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
The Slovak Republic joined the OECD Scoreboard on financing SMEs and entrepreneurs in 2010. It is in the process of amending its methodology to collect statistics on SME financing. Thus, the data in the current Scoreboard are likely to change as data collection improves. The current framework uses the EU definition for an SME which is an enterprise with less than 250 employees. However, not all banks use this definition. As shows, SMEs dominate the Slovak economy.