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.
- 19 Apr 2012
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Hungary defines SMEs using the standard criteria provided by the European Union. An SME is an enterprise with fewer than 250 employees and which has an annual turnover not exceeding EUR 50 million. The total number of active, employer enterprises in Hungary was 547 440 at the end of 2010, almost all of which were SMEs. This included those which were legal entities as well as non-legal (informal) entities. It also includes self-employed persons, which is in keeping with the EU definition of an SME but departs from the OECD practice of reporting only on employer enterprises.