warned

CS-Wednesday, February 13, 1980 - North Shore News

economy

Small businesses should
adopt a cautious approach
during present “abnormal”
economic conditions, ac-
cording to a bank specialist
in small business financing.

The unprecedented level
of interest rates has
dramatically increased the
cost of borrowing par-
ticularly for smal}
businesses, says F.A. (Al)
Droppo, chairman of the
small business committee of

the Canadian Banker's
Association.

REVIEW PLANS

Speaking to a conference
on small business sponsored
by Queen’s University in
Kingston, Ont., Droppo
suggested that small firms
review their operations and
plans in the light of present
government economic
policy.

Droppo, group manager,
commercial banking for the
Bank of Montreal, said non-
essential capital  ex-
penditures should be
delayed and current
operating expenses reviewed
with bank branch managers.

“For their part, banks are
acutely aware of the
financing problems of small
businesses. They recognize
that this period is abnormal
and hopefully a passing set
of economic conditions ...”

KEY FACTORS

Droppa said that basic
management ability is one of
the key factors in the suc-
cessful financing of smaller
firms. The banker can
calculate all the relevant
financial ratios, but the final
decision often hinges on a
personal assessment of the

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