SCCI discusses credit report, score for SME businesses

SCCI discusses credit report, score for SME businesses

SHARJAH, 25th September, 2022 (WAM) -- The Sharjah Chamber of Commerce and Industry (SCCI), represented by "Tijarah 101", has hosted a webinar in cooperation with Al Etihad Credit Bureau (AECP) to discuss the importance of AECP credit report and score for SME businesses.

The webinar discussed various topics including the comprehensive credit protection solutions provided by Al Etihad Credit Bureau to help companies improve risk management and make the right decisions when interacting with customers.

Mohammad Ahmed Amin Al Awadi, Director-General of SCCI, Marwan Ahmed Lutfi, CEO of Al Etihad Credit Bureau, and Mona Omran Ali, Director of Small and Medium Enterprises Centre (Tijarah 101), took part in the virtual event. Also present were members of Tijarah and several entrepreneurs in the UAE.

The discussions also touched on how SMEs can regularly upgrade their working practices to meet the needs of various industry sectors and why it is important for them to understand the duties of financial institutions and the acceptability of their credit records. The online meeting also tackled how SMEs may take advantage of a variety of benefits and opportunities offered by the AECP.

Al Awadi stressed that the webinar comes in line with the chamber's ongoing efforts to support Sharjah’s SMEs, which are seen as a major contributor to the national economy and one of the key pillars of the nation's flexible, diverse, and sustainable economic model.

"The online event has discussed a very important topic, that is the importance of the credit report and score for small and medium enterprises, to foster entrepreneurs’ expertise and empower them to advance their projects in accordance with best practices," he added.

Al Awadi said that the chamber is committed to providing business owners with all support by launching creative initiatives that advance the entrepreneurship sector and fulfil the goals of young people who are enthusiastic about leading enterprises. In addition to furnishing them with the information and skills required to ensure the continuity of their initiatives, the chamber will work side by side with entrepreneurs to support and allow them to overcome any obstacles they may encounter.

Mona Omran Ali underlined the importance of the webinar and its role in directing business owners toward the right and scientific methods in their firms' financial transactions.

She noted that the Sharjah Chamber, represented by Tijarah 101, will continue to organise courses and workshops in cooperation with strategic partners to support entrepreneurs considering the rapid changes taking place in the business world.

It is worth noting that the credit report is a collection of historical credit data from various financial institutions, utility companies, government agencies, etc. on individuals and companies in the UAE.