capital in relation to job creation and provide the strongest channel for development and innovation. Innovation is recognized … them to access finance through traditional means. The current economic environment has brought SME needs into particular … to provide financing. In order to improve the access to finance for SMEs, the efforts should be focused at the European …

financial crisis 2008/2009 on their business customers’ innovation activity. Using a matched bank-firm data set for Germany, we … find that having relations with a more severely affected bank seriously hampers firms’ current innovation activities due to … initiate new product and process innovations and to reallocate human resources to innovation during the financial crisis. …

benefit from more elaborate Treasury operations, economies of scale also in their financing operations and, in particular … potential and, in particular when it comes to lack of risk capital, their innovation and R&D activity. Against this background …, a conference on "Financing SMEs in Europe" was jointly organised by SUERF and the Banque de France on 11 and 12 …

consequence of new capital requirements. Moreover, a longstanding financing gap exists for SMEs with a high risk/return profile …, such as start-ups, fast-growing and highly innovative SMEs. While bank financing will continue to be crucial for SMEs …, broadening the financing options would enable SMEs to better seize growth opportunities and reduce their vulnerability to changes …

We use the recent financial crisis to investigate financing constraints of private small and medium-sized enterprises …

reduced significantly during and after the financial crisis. We find that both internal and external financing sources had a …