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Financing SMEs and Entrepreneurs 2019

An OECD Scoreboard

image of Financing SMEs and Entrepreneurs 2019

Sufficient and affordable access to different sources of finance is crucial to allow SMEs and entrepreneurs to reach their full potential. The 8th edition of the Scoreboard on SME and Entrepreneurship Finance report provides data from 46 countries around the world on debt finance, alternative finance instruments and financing conditions, as well as information on policy initiatives to improve their access to finance.

In 2017, SME bank credit increased at a modest pace in many countries and declined in some others, in the context of broadly positive macroeconomic conditions, improvements in the business environment and accommodative credit conditions. In contrast, volumes were generally up for most other sources of finance relevant for SMEs and entrepreneurs, such as leasing, factoring, online alternative finance, and venture capital investments. At the same time, a growing share of SMEs relied on self-financing for their investment needs and cash flow requirements in 2017.

The thematic chapter of this publication investigates the potential for SMEs to leverage their intangible assets to access external finance, especially debt.

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United States

During the 2010-2017 recovery period U.S. real GDP posted an average annual growth rate of 2.2%. While this growth rate was slightly lower than the 2.9% average recorded during the longer Post WW II period, it was sufficient to absorb excess labor supply created during the 2008-2009 recession: The employment to population ratio rose continuously from 42 percent during march of 2010 to 45 percent during July of 2018, not far from the recent peak ratio 47 percent recorded during March of 2000. During this period, the index of real output per hour posted an average annual growth rate of 0.7 percent, while the index of real compensation per hour posted an average annual growth rate of 0.6 percent.

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