The market is agile and is looking for solutions to the underlying problems. New financing mechanisms are appearing to alleviate the credit shortage, especially to help SMEs to enter foreign markets and to innovate.
Towards growing SMEs
An example of this is the fund that they are jointly preparing (according to Europa Press), Banca March, European Investment Fund and Oquendo Capital 100 million to finance projects of small and medium-sized enterprises in Spain and Portugal.
Another example is funding initiatives for projects that help to improve the competitiveness of SMEs such as specialised Energy Efficiency funds such as Cross-check and Corsica EE.
Public funding for growth projects, especially internationalisation and innovation
El ICO 2013 has focused on two main areas of activity: SMEs and internationalisation.
ICO Companies and Entrepreneurs Line. It has a financial endowment of 18,000 million euros. The aim of this line is to provide the self-employed and Spanish companies with financing to undertake their investments in Spain and to cover their liquidity needs.
ICO International Line. It has a budget of 4,000 million euros. The aim of this line is to provide the self-employed and Spanish companies with financing to undertake their investments outside the national territory and to cover the liquidity needs arising from these investments. At present, the ICO is strongly committed to supporting internationalisation and exports, the cornerstones of the Spanish economy's growth in the current situation.
New SME culture of openness to financial partners
In order to improve their competitiveness, SMEs need to increase their size and go to foreign markets. To do this, in this new stage, it must be open to allying itself with alternative sources of financing. Unlike banks, these alternative sources (such as venture capital) consolidate the company's own funds and provide business experience in growth processes. But the SME must prepare itself and train its professionals to manage with these new partners.
Diego Gutiérrez Zarza
ABRA INVEST
Web: www.abra-invest.com