New approaches to SME and entrepreneurship financing : broadening the range of instruments


The challenges and benefits of alternative finance for SMEsThe new reality for SME financeBroadening the range of financing instruments for SMEs and entrepreneursKey challenges and policy implicationsReferencesTraditional debt finance and alternative financing instruments for SMEsSME finance in the post-crisis environmentTraditional debt financeTraditional lending technologiesSmall business credit scoringCredit risk mitigation in traditional lendingAlternative financing instrumentsReferencesAsset-based finance for SMEsForms of asset-based finance Asset-based lendingModalitiesEnabling factorsFactoringEnabling factorsPurchase Order Finance ModalitiesWarehouse receiptsLeasing ModalitiesProfile of firmsEnabling factorsTrends in asset-based financePolicies to enhance asset-based finance for SMEs Regulatory frameworkPolicy programmesNotesReferencesAlternative debt as a source of finance for SMEsCorporate bonds ModalitiesTrends in corporate bond marketsPolicies to foster corporate bond markets for SMEsDebt securitisation and covered bonds ModalitiesTrends in securitisation marketsPolicies to enhance SME debt securitisationNotesReferencesCrowdfunding for SMEsForms of crowdfundingTrends in crowdfunding activityPolicies to ease the development of crowdfundingNotesReferencesHybrid finance instruments for SMEsForms of hybrid instruments Subordinated debtParticipating loans“Silent” participationConvertible debt and warrantsMezzanine financeProfile of firmsEnabling factorsTrends in mezzanine financePolicies to support the development of mezzanine finance for SMEsNotesReferencesEquity finance for SMEsForms of private equity: venture capital and business angel investingVenture capital ModalitiesTrends in venture capital marketsBusiness angels ModalitiesBusiness angels vs venture capitalTrends in business angel investmentsPolicies to sustain business angel investmentPublic equity: specialised platforms for public listing of SMEs ModalitiesTrends in SME public listingsPolicies to support the development of SME public listingsNotesReferences
 
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