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EUROCHAMBRES demands “genuine” single market for SME finance

Posted at November 11, 2014 | Categories : News

Fragmented European rules for lenders and borrowers and a lack of risk culture are the major obstacles to providing a better investment climate for small and medium-sized enterprises, according to research from EUROCHAMBRES.

The group, which represents chambers of commerce throughout the EU, highlights other difficulties facing SMEs including:

  • slowness of decision making process for debt or equity financing
  • barriers – largely regulatory – to acquiring financing from other member states
  • tax regimes that discourage investment

Entrepreneurs also complained about the difficulties they encounter acquiring adequate start-up capital and supplementary financing to support growth and innovation.

With bank borrowing increasingly disregarded as a potential source of financing, EUROCHAMBRES wants to see the EU create a genuine single market for SME finance and address regulatory obstacles to acquiring and offering cross-border financing.