Fostering Markets for SME Finance : Matching Business and Investor Needs

Kris Boschmans ; Lora Pissareva

Organisation for Economic Co-operation and Development

关键词: Financial Crisis;    Non-bank Finance;    Financial Skills;    SME Finance;    Equity;    Public Policy;   

DOI  :  https://doi.org/10.1787/0bd38639-en

学科分类：社会科学、人文和艺术（综合）

来源: OECD iLibrary

【 摘 要 】

The 2008-09 global financial crisis had a profound impact on the availability of bank credit for SMEs. Although a decline in the demand for bank credit played an important role, banks have also become more reluctant to lend, including as a consequence of new capital requirements. Moreover, a longstanding financing gap exists for SMEs with a high risk/return profile, such as start-ups, fast-growing and highly innovative SMEs. While bank financing will continue to be crucial for SMEs, broadening the financing options would enable SMEs to better seize growth opportunities and reduce their vulnerability to changes in credit market conditions and economic downturns. The present study analyses key impediments to SMEs’ uptake of alternative financial instruments, both on the demand- and supply-side. The study discusses the role of policy in fostering SME finance markets and reviews recent trends in policy measures to support the development of alternative financial instruments for SMEs.