FINANCIAL TIMES
By Jane Bird
Print Edition: 3 June 2010
Online Published: 2 June 2010

READ THE FULL ARTICLE ONLINE USING THE LINK ABOVE

"Sharon Vosmek of Astia: banks need to be more patient in early years."

Banks also often fail to accommodate companies with high growth plans. A small company might sign a lucrative contract with a big customer, under which payment will not arrive for several months, says Sharon Vosmek, chief executive of California-based Astia, an organisation that is focused on women entrepreneurs. “Meanwhile, working capital is needed to meet the payroll.”

Many rapidly expanding new businesses are not even given the option of an overdraft or extended credit with high interest rates, says Ms Vosmek. “The bank simply won’t recognise that there is any value in a business that hasn’t been established for a long time. We need more banks that understand the first one or two years.”