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Access to finance




According to the Small Business Act (SBA) Fact Sheets, Germany offers a very hospitable business and political environment for SMEs. As a consequence, the German SME sector showed great resilience throughout the crisis that started in 2008. In fact, it even grew in this period, creating some 1 100 000 jobs since 2009. This performance set Germany apart from all other Member States during the crisis. German SMEs continue to be more innovative and internationally-oriented than most of their EU counterparts. In recent years, the policy framework has contributed to this success. The areas of concern are more for the long than the short term, but are nonetheless critical. Germany´s ageing demographics are already taking their toll on the economy. One obvious effect is the increasing shortage of young qualified professionals, which is being felt – especially by SMEs – in some sectors and regions of the economy. Another may be a gradual decrease in the numbers of young entrepreneurs, which has yet to really set in. Germany may have to work harder in future to counteract the effects of an ageing society. Political efforts to better exploit the untapped potential for entrepreneurship will need to be stepped up and better coordinated at all levels: nationally, but in particular regionally.

Key indicators on access to finance
SMAF gif - 18 KB [18 KB]

Germany ranked 1st out of 27 countries in the 2012 SMAF Index.

For details on SMAF index and methodology please click here.

Download data excel12book - 593 KB [593 KB]

Loans gif - 35 KB [35 KB]

Source: Chart compiled using ECB data

Note: Loan volumes and interest rate data for 2013 are to the period September 2013 only (due to data availability as at November 2013).

Download data excel12book - 69 KB [69 KB]

Guarantees gif - 37 KB [37 KB]

Source: Chart compiled using AECM data

Download data excel12book - 48 KB [48 KB]

Venture capital
Venture capital gif - 39 KB [39 KB]

Source: Chart compiled using EVCA data

Download data excel12book - 69 KB [69 KB]

Business angels finance
Business angels finance gif - 25 KB [25 KB]



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