Financing SMEs and Entrepreneurs 2013

An OECD Scoreboard

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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. The OECD Scoreboard on financing SMEs and entrepreneurs represents a major step in addressing this obstacle by establishing a comprehensive international framework for monitoring SMEs’ and entrepreneurs’ access to finance over time. 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.

This second edition comprises 25 countries, including Canada, Chile, the Czech Republic, Denmark, Finland, France, Hungary, Ireland, Italy, Korea, the Netherlands, New Zealand, Norway, Portugal, the Russian Federation, Serbia, the Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Thailand, Turkey, the United Kingdom and the United States. It includes an overview of SME financing trends and conditions across participating countries, focusing in particular on the changes which occurred between 2010 and 2011, and of government policy responses intended to improve SMEs’ access to finance. The second edition also includes a Reader's Guide, a thematic focus on Credit Guarantee Schemes and methodological Annexes.

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Thematic Focus: Credit Guarantee Schemes

This chapter provides an overview of Credit Guarantee Schemes in Scoreboard countries. The evidence on public schemes provided in the country profiles is complemented by information on private guarantee schemes as well as mixed guarantee schemes (public-private). The chapter sets this evidence within a conceptual framework, discussing the rationale of credit guarantee systems and illustrating the diversity of CGSs, in terms of ownership structure, funding, programme design and operational characteristics. It explores these dimensions in specific credit guarantee schemes in Scoreboard countries and reviews the main policy measures introduced during the crisis to support credit guarantee operations. The chapter then addresses structural and emerging challenges for the effectiveness and sustainability of these schemes. For this purpose, key dimensions for evaluation and performance indicators are examined. The chapter concludes with policy considerations.

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