Introduction to Access to Finance Portal
Small and medium enterprises (SMEs) account for majority of the firms in Uganda. SMEs play a critical role and are significant contributors to employment. SMEs face greater financing obstacles than larger firms—they enjoy less access to external finance and face higher transactions costs and higher risk premiums. Lack of information on available financing options further constraints SMEs access to finance and presents a unique challenge. Compared to larger firms, it can be more difficult for an SME to navigate the financing industry, assess and determine the best option for their growth. There is currently no central depository data base on all financing options available to start ups or those looking to grow and expand their businesses.
Recognizing the importance of SMEs, the European Union, the Government of Uganda, and its partners are working collaboratively to improve access to finance for SMEs.
The Access to Finance Portal has been set up to provide information on available sources of finance from development banks, commercial banks, equity investors, government, and donor projects. Once logged into the portal, the user can get information on available finance, terms and who to contact. This facility will help improve access to finance and is one way to reduce financing obstacles for SMEs by strengthening access to information.