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Access to finance

Denmark


				Denmark

Summary

The Small Business Act (SBA) Fact Sheets indicate that the 2008-09 crisis has hit Denmark’s SME sector hard. It has led to a significant fall in employment, value added and numbers of firms. Since 2009, Danish firms have experienced a modest recovery, but that lost momentum in 2012. SMEs were more affected than large companies, their contribution to the GDP falling about 2.3 % each year over 2008-12, while larger firms managed to hold their value added over the same period. The prognosis for 2013 and 2014 anticipates more sustained growth. The economy is expected to gain momentum again, on the back of the reforms implemented by Denmark to boost investment and internal demand and improve export competitiveness. However, a full recovery to pre-crisis levels is not yet within sight, especially regarding employment.

Denmark offers a favourable business environment for small firms, which are widely considered to be the main generators of future wealth and employment. The SBA profile for Denmark clearly exceeds the EU average in half of the SBA areas. Denmark’s performance is close – albeit slightly below - par in environment and state aid and public procurement, and entrepreneurship. However, Denmark is the lead performer in fields such as skills and innovation, framework conditions for internationalisation, responsive administration and second chance.

Key indicators on access to finance
SMAF
SMAF gif - 20 KB [20 KB]

Denmark ranked 19th 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
Loans gif - 36 KB [36 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]

Venture capital
Venture capital gif - 37 KB [37 KB]

Source: Chart compiled using EVCA data

Download data excel12book - 69 KB [69 KB]

 

Appendix: ACTIONS SUPPORTING ACCESS TO FINANCE FOR SMEs pdf - 295 KB [295 KB]

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