Second, financial information provided by SMEs could be improved by user-friendly accounting systems.

Second, financial information provided by SMEs could be improved by user-friendly accounting systems.

Hopefully, the Working Group's eighteenth session would result in guidance on a user-friendly accounting system that could satisfy the needs of both the users and preparers of financial statements of SMEs.

One difficulty in servicing the SME sector was the lack of reliable and transparent financial information and the need to develop a user-friendly accounting system for SMEs that could generate information for creditors, investors and SME managers.

Promoting user-friendly accounting and reporting systems for SMEs that would provide uniform (within the country) and useful financial information to managers, creditors and investors;

Providers of business services are often better placed than financial institutions to identify potential clients, ascertain their creditworthiness, pre-screen project proposals, disseminate user-friendly financial and accounting systems, monitor repayment, exert peer pressure and maintain one-to-one contacts during the entire payback period.

When dealing with capacity building, development agencies should be ready to enter into full partnerships with public and private stakeholders and share risks and responsibilities; Promoting user-friendly accounting and reporting systems for SMEs that would provide uniform (within the country) and useful financial information to managers, creditors and investors; Disseminating information on financial innovations and assisting commercial banks in developing core competencies in credit policy making, risk management, credit information and management systems, and efficient marketing and distribution; Developing/strengthening programmes that assist commercial banks in developing countries to train bank management and staff to better appraise SME credit risk, particularly in the case of women entrepreneurs; Encouraging banks to develop contractual relations with business development service providers to better identify opportunities and to provide efficient follow-up services; Joining with Governments and private partners in creating public-private venture capital funds and investment banks to assist SMEs; Urging development banks to adopt a sectoral approach to: