Presenting your best side

DESPITE it being such a key aspect to running a business, banks agree that small and medium-sized enterprises (SMEs) in general are not well-versed in the importance of creating a credit profile early on in a business' life. The situation becomes particularly dire for young or micro companies. "In general, most SMEs are more concerned about how to grow their business and to clinch their next business deal. Less priority is being placed on building their financial resilience," says Eric Tham, managing director, group commercial banking, at UOB Group.