In Part 1, I talked about the fundamental flaw in the relationship between entrepreneurs and banks in the UAE, and which has led to both parties suffering severe and increasing pains since early 2015.
In this Part 2, and as promised, I’m offering my thoughts on some solutions to remedy this imbalance.
I will provide suggestions to both entrepreneurs as well as banks.
Small businesses and banks in the UAE are in a crisis since the beginning of 2015.
Banks accuse entrepreneurs of running away, leaving behind unpaid debts.
Entrepreneurs retort that banks are being unreasonable and are choking their businesses to death.
I believe that the problem is much more fundamental that just "intentions": there is a serious flaw in the structure of the relationship between banks and small business owners, and this needs to be addressed asap if we are to get out of this crisis.
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