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Financing SMEs and Entrepreneurs 2020

An OECD Scoreboard

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Sufficient and affordable access to different sources of finance is crucial to enable SMEs and entrepreneurs to contribute to inclusive growth. The 9th edition of the Scoreboard on Financing SMEs and Entrepreneurs provides data from 48 countries around the world on SME lending, alternative finance instruments and financing conditions, as well as information on policy initiatives to improve SME access to finance.

Lending conditions remained broadly favourable in the run-up to the COVID-19 outbreak, despite some early signals of tightening. Nevertheless, SME bank credit increased only at a modest pace in many countries and declined in some others in 2018. At the same time, the take-up by SMEs of other sources of finance, including leasing and factoring, equity crowdfunding and venture capital investments expanded significantly, suggesting that SMEs are increasingly turning to a combination of instruments.

The thematic chapter provides an overview of the evolution of SME financing policies over the last decade, from the immediate post-crisis period and the early recovery years, to the most recent policy trends.

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Georgia

In 2016, pursuant to the National Strategy of SME Development, the Georgian National Statistics office introduced a new methodology and new definitions to gather statistics on the country’s SMEs. According to the new methodology, as of 2018, 99.70% of active enterprises in Georgia are SMEs. In total, SMEs account for 63.3% of total private employment and contribute to 53.0% of total business sector turnover and 59.1% (GEL 24.1 million) of value of all production in the business sector (GEL 40.9 million).

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