Access to finance represents one of the most significant challenges for entrepreneurs and for the creation, survival and growth of small businesses. As governments address this challenge, they are running up against a major and longstanding obstacle to policy making: insufficient evidence and data. Better data is needed to understand the financing needs of SMEs and entrepreneurs and to provide the basis for informed institutional and public policy decisions.
This first edition of "Financing SMEs and Entrepreneurs: An OECD Scoreboard" represents a major step in addressing this obstacle by establishing a comprehensive international framework for monitoring SMEs’ and entrepreneurs’ access to finance over time. Comprising 18 countries, including Canada, Chile, Denmark, Finland, France, Hungary, Italy, Korea, the Netherlands, New Zealand, Portugal, Slovak Republic, Slovenia, Sweden, Switzerland, Thailand, the United Kingdom and the United States, the Scoreboard presents data for a number of debt, equity and financing framework condition indicators. Taken together, they provide governments and other stakeholders with a tool to understand SMEs’ financing needs, to support the design and evaluation of policy measures and to monitor the implications of financial reforms on SMEs’ access to finance.
- Publication Date :
- 19 Apr 2012
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The Canadian statistics are based on SMEs when possible, but in many instances, due to data limitations, the country profile reports on only small businesses with 1-99 employees which represent 98.0% of businesses. As medium-sized enterprises, those with 100-499 employees, only represent 1.7% of Canadian businesses, their exclusion does not have a significant impact on the data or results. In 2010, the Canadian small businesses employed 48.3% of the private sector. Among those employees, 76.3% are employed in the services sector and 23.7% in the goods sector.