Once upon a time there were three little merchants Each had a beautiful small shop in their village
Minimum was a very busy community leader and ran her shop as a side business
– so she did just enough to get by Panic merchant had big ideas but was disorganized The Practical merchant,
however, always made good business decisions
Soon they each had many customers and thriving businesses
They realized their shops needed more investments to grow -- like hire assistants and introduce new products
Minimum asked her parents to lend her money,
which they happily did as they trusted her to pay it back
No sooner had she spent her parents' money than a terrible storm blew her shop down She was left with no business
When her parents needed their money back they were angry with Minimum for losing it all as they needed it for their retirement
Panic had no family or friends so he borrowed from a mean loan shark at a high interest rate
He used the loan to buy tutti-frutti ice-cream but nobody liked it except him
The refrigerator broke down and it all melted;
ruining his shop The loan shark chased Panic all over town to repay the money he owed plus interest and penalties
Practical learned for the mistakes of others and thought he knew the right way to borrow
He took his account book and a nice business plan to the friendly local banker to ask for a small business loan
The bank manager listened, then announced his decision about giving him the loan
Bank manager: No!
Panic: What? That's all? Minimum: Don't we get a happy ending? Practical: What's the moral of the story?
Well, if the government is smart and listens to ADB Institute
they could set up a data base with basic information on small to medium sized businesses like you three
-- then it becomes much easier for banks to assess your credit rating. What is an SME database?
To read this text, please pause the video
For more information and links, please see the description box below
SME database key requirements
equity, total liabilities, net sales,
accounts receivable
Find out more from Naoyuki Yoshino and Farhad
Taghizadeh-Hesary analysis of credit ratings for small and medium-sized enterprises
evidence from Asia
Remember
Don't be a minimum shopkeeper or a panic merchant. Do be a practical small business owner.
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