HSBC and FSVC joined forces to create a web-portal in 2010 to provide Egyptian entrepreneurs and small businesses with financial information that is relevant to maintaining their businesses as efficiently viable concerns. The web-portal provided information on business financial management, readiness for access to bank finance and capacity building resources. The web-portal was designed in a manner which allows for replicability in regional financial ecosystems of similar standing.
The program involved commissioning a professional web-site company to design the portal and load on the content that was jointly developed by HSBC and FSVC and included information on how to apply for a bank loan, basic accounting for small businesses, local laws and regulations, and much more. The portal was also used as a springboard from which to organize training sessions and seminars for SMEs, and an advocacy platform to address challenges in the SME financial ecosystem through calling for improvements in the policy environment.
Program Impact
- Creation of a web portal for SMEs that contained vital information on registration, financial documentation, accounting and operational materials.
- 43 SMEs received training on financial and business development skills.