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This study examines the impact of banks loan to SMEs on manufacturing output in Nigeria for the period spanning 1992 to 2010. The study employed an error correction modeling technique and observed that banks loan to the SME sector had insignificant impact on manufacturing output both in the long and short run. Based on the findings, the study recommended the need for greater deliberation and conscious effort by the government in ensuring that loans are given to ultimate users. There is also the need for moderation of collaterals and interest rate attached to banks loan to SMEs, to make it more attractive to stakeholders in the SMEs sector.

The Arab Spring in the Middle East and North Africa (MENA) region has brought to the forefront key challenges: the need to create job opportunities, equal access, a level playing field, transparency and accountability, and a fair and competitive environment. Crony capitalism, the privileged access of certain elites to favorable legal and regulatory treatment, access to markets, and the coincidence of political and economic power, was a major concern contributing to the uprising. Many saw privilege and corruption as the source of unemployment and inequality, effectively raising barriers to entry and growth for the majority of entrepreneurs. At the same time, practices such as connected lending and preferential land allocations, contributed to poor performance of key institutions, underpinning the market economy. It is critical for the MENA countries to achieve the aspirations of their people and attain sustainable and inclusive development by expanding private-led employment and creating entrepreneurship opportunities. This report assesses the supply and demand of financial services to small and medium enterprises (SMEs) in the MENA region, as well as the regulatory, institutional and policy environment that determines the cost, risk, and scale of SME finance. Emerging and promising SME finance models for banks, investors, government and regulators are outlined. These could significantly improve the outreach, viability, risk management, and development impacts of SME finance in the MENA region. SMEs need access to longer term credit products and equity, in addition to working capital loans and trade finance. They also need payment and card services, deposit facilities, liquidity management, risk management tools and insurance. The principal role of the state is as an enabler and regulator, providing the financial infrastructure, and legal and policy frameworks that financial institutions need to be able to meet the range of SME financial needs profitably. All this will contribute to attaining a more sustainable and inclusive system that can play a more important role in economic growth, and the regions prosperity.

This book covers all important financial innovations for SME financing, and combines theoretical analysis and real world practices employed in China's financial market. As China is increasingly becoming a key player in the global economy, the book helps readers gain a better understanding of the current structure and operation of, as well as future changes in, the Chinese economy. Given the high likelihood of RMB joining the IMF's SDR in the near future, this book offers a well-timed publication that will prove valuable for a broad readership, either as a reference book or as a guide to understanding, researching, teaching on and making business decisions about China and related issues

Small and Medium Enterprises (SMEs) are organized through people's creativity in developing human and natural resources. However, investment challenges often affect their implementation and production processes, necessitating solutions, such as capital loans from banks and other entities. Crowdfunding is an online loaning service that provides easily accessible loans to SME startups, though a warrant to protect creditors from losing money to ingenuine people is necessary. Therefore, this study examines the appropriateness of a fiduciary warrant as a SMEs collateral object. When fiduciary is used as a loan warrant, debtors are allowed to use collateral objects in their production processes. To make a fiduciary warrant effective, legal protection is required. This study used juridical-normative that relied on legal norms in legislation and court verdicts dealing with societal organizational issues. The results showed that crowdfunding-based credit is an alternative with more straightforward procedures compared to conventional entities.

This paper develops a conceptual framework and offers new statistical evidence on the access to credit by micro, small, and medium enterprises (MSMEs) in Guatemala and Nicaragua. To this end, and after reviewing the existing literature on the topic, it produces new empirical evidence drawn from the official Household Survey and the World Bank's Investment Climate Survey, conducted in both countries in 2006. The core contribution of the paper lies in the critical revision of three pieces of common knowledge, namely: (1) A large fraction of MSMEs has an excess demand for credit; (2) In the presence of credit market failures, governments must and actually do assist MSMEs in gaining access to loan facilities; and (3) Alternative credit instruments, such as leasing, factoring, microcredit, and third-party guarantee schemes, can be a suitable and massive solution for the lack of financing. Our analysis refutes to a large extent these assertions and advances some basic policy prescriptions that should help improve the resource allocation and impact of specific MSME financial programs.

This paper develops a conceptual framework and offers new statistical evidence on the access to credit by micro, small, and medium enterprises (MSMEs) in Guatemala and Nicaragua. To this end, and after reviewing the existing literature on the topic, it produces new empirical evidence drawn from the official Household Survey and the World Bank's Investment Climate Survey, conducted in both countries in 2006. The core contribution of the paper lies in the critical revision of three pieces of common knowledge, namely: (1) A large fraction of MSMEs has an excess demand for credit; (2) In the presence of credit market failures, governments must and actually do assist MSMEs in gaining access to loan facilities; and (3) Alternative credit instruments, such as leasing, factoring, microcredit, and third-party guarantee schemes, can be a suitable and massive solution for the lack of financing. Our analysis refutes to a large extent these assertions and advances some basic policy prescriptions that should help improve the resource allocation and impact of specific MSME financial programs. ; Centro de Estudios Distributivos, Laborales y Sociales (CEDLAS)

The Czech banking system is an innovation market driven by the power of new low-cost banks focused on young internet clients. We could say that it is profitable and one the most stable market in Eastern Europe. The purpose of this article is to analyse the effect of the interest rates on the loan product policy of selected banks in the Czech Republic, specifically in connection with the banking products offered to the SME segment. In particular, the final report focusses on measuring bank profitability based on interest rates on different products within a specific time period. Final touch of this article is complemented by a calculation of the additional ROE for the commercial bank using model based on itnerest margin and profitability of provided loans. We found out that the usage of different approaches of internal models with different combinations of key determinants can potentially increase the bank's profitability in the interval from 1,042 mil. to 24,300 mil. CZK. ; peer-reviewed

In today's worldwide economy, industrial expansion and technology drive national development. Globalization's emphasis on entrepreneurship has spurred new graduates to start enterprises and boost economic growth. Due to Oman's high unemployment rate, the government promotes SMEs to create jobs and enhance the economy. SMEs struggle to get capital, limiting their growth. They have trouble getting bank loans due to their size and lack of collateral. SMEs rely on trade financing due to its flexibility and cash flow relief. This study addresses SMEs' trade credit management issues. It develops and implements a trade credit management plan to streamline credit operations, improve cash flow, eliminate bad debt, and improve financial health. This research also evaluates SMEs' profitability, trade credit risks, and ways to reduce cash flow and financial stress. It also examines how Blockchain Technology can help SMEs. This research examines trade credit risks, returns, and costs and uses blockchain technology to propose solutions for SMEs and decision-makers. This research uses quantitative and qualitative analysis to survey SME businesses and bank officials in Oman's South Al Batinah region about trade credit and Block chain technology usage. The experts suggested SMEs embrace Blockchain technology solutions matched to their size and business needs and hire an accountant for financial management.

It is imperative for a country to make relevant and business friendly legislation that would enable SMEs growth in the country. They contribute greatly in jobs creation and GDP. SMEs in Zambia employ 50 percent of the working class, similar to countries like Indonesia, Tanzania and Kenya. Over 90 percent of SMEs operate in the informal sector and this makes it difficult for the government to support the sub sector efficiently. So, SMEs contribution to the country's development is not very clear. Because, majority of SMEs operate in the informal sector, attracting-funding from micro finance institutions (MFIs) is a challenge and this makes (SME) sector weak. Entrepreneurs Financial Centre (EFC) was used as a case study. This is a specialized micro finance institution that provides SMEs lending. The period considered in this research was from 2016-2018. Whereas, SME loans constitute about 60 percent of EFC's loan portfolio, the loans given out are small value ranging from USD133 with a maximum of USD 46,667. The process of acquiring these loans is cumbersome and those without security may stand no chance. This does not give borrowing appetite and thus, such a trend would keep the sector underdeveloped. Findings revealed that with an organized sector platform, SMEs contribute immensely in the development of the country. Primary and secondary data were collected through using questionnaires, interviews and observation.

ÖZETKÜÇÜK VE ORTA ÖLÇEKLİ İŞLETMELERİN (KOBİ) YETKİNLİĞİNİN ÖLÇÜLMESİ: DİNAMİK BİR MODEL Küçük ve Orta ölçekli işletmeler (KOBİ) ülkeler için büyük önem arz etmekte ve dünya ekonomisinin bel kemiğini oluşturmaktadırlar. KOBİ'lerin güçlü hale gelmesi ülke gelişimi içinde çok önemlidir. Her ülke kendi işletmelerini geliştirmek, işletmelerin hem kendilerine hem de devlete olan faydasını arttırabilmek için çeşitli şekillerde destek programları oluşturmaktadır. Bu destek programlarının en verimli şekilde kullanılabilmesi ve hedeflenen faydayı oluşturması, doğru işletmelerin desteklenmesi ve doğru desteklerin verilmesine bağlıdır. Dolayısı ile, destek almak isteyen KOBİ'leri belirli özelliklerine göre değerlendirecek, doğru şekilde seçilmelerine rehberlik edecek modellere ihtiyaç bulunmaktadır.Bu gereksinime bağlı olarak farklı ülkeler kendi siyasi ve ekonomik şartlarına göre oluşturdukları bazı değerlendirme yöntemlerini kullanarak destek talep eden işletmeleri belirlemektedirler. Özellikle gelişmekte olan ülkelerde Küçük ve Orta Ölçekli İşletmelerin çok fazla olması ve büyük çoğunluğunun destek almak istemesi hem kısıtlı olan kaynakların dağıtımını daha zorlaştırmakta hem de değerlendirme sürecinin adil olmasını gerekli kılmaktadır. Desteğe ihtiyacı olan en uygun işletmelerin belirlenebilmesi için etkin bir değerlendirme sisteminin kurulması gerekmektedir. Devletin sağladığı desteklerin bir çoğu geri ödemesiz ve hibe şeklinde olduğundan doğru işletmenin belirlenmesi ülke ekonomisi açısından büyük önem arz etmektedir. Benzer şekilde özelikle bankalar kredi verecekleri işletmeleri belirli kriterler ve yöntemler kullanarak değerlendirebilmekte ve işletmelerin alacağı krediyi geri ödeyip ödeyemeyeceğini tahmin etmeye çalışmaktadırlar. Ancak uygulanan yaklaşımların çoğu işletmelerdeki finansal yapıyı temel aldığından, firmaların geleceğe yönelik durumları için yapılan değerlendirmeler yeterli olmamaktadır.Bu araştırma ile Küçük ve Orta Ölçekli İşletmelerin belirli açılardan değerlendirilmesini sağlayacak ve KOBİ yetkinliklerinin ölçülmesine olanak verecek bir çerçeve model geliştirilmesi amaçlanmıştır. İşletmelerin değerlendirilmesinde kullanılacak model genel olarak beş yetkinliğin ölçülmesini hedeflemektedir. Bu yetkinlikler; "Teknolojik Yetkinlik", "Stratejik Yetkinlik", "Finansal Yetkinlik", Entelektüel Yetkinlik" ve "Arge & İnovasyon Yetkinliği" dir. Etmen tabanlı bir yapı önerilerek hem dinamik ve esnek hem de uyarlanabilir zeki bir sisteme dönüştürülmesine yönelik yeni bir yaklaşım sunulmaktadır.Measurıng the competency of small and medıum enterprıses (sme): a dynamıc modelSmall and Medium Sized Enterprises (SMEs) are of major importance to countries and form the backbone of the world economy. Strengthening the SMEs are also important for the development of the countries. Due to this fact, every country provides various support programs to improve its local enterprises and to increase the number of those in order to create benefit for both industry and the government. To use such support programs in the most efficient way and to achieve the respective objectives, the enterprises must be assessed and the right ones are to be selected for the sake of right supports to be provided. Therefore, SMEs applying for particular support program must be assessed in terms of certain scientific criteria.Countries already employ certain assessment methods. They developed those models in accordance with their respective political and economic conditions in order to identify the enterprises to be supported. Since there are too many SMEs, especially in the developing countries and since most of them require the governmental support, it is important to find out a just distribution scheme for the national benefit an efficient assessment system must therefore be introduced to determine the most appropriate enterprises eligible to deserve governmental support. Since most of the supports provided by the governments are no-payback funds, selecting the right enterprises is of major importance for the national economy as well. Similarly, banks use such a certain criteria and employ various methods to determine credit worthiness of the enterprises, and aim to estimate whether or not they are capable of repaying the loans provided. However, most of the methods employed in this way focus on the financial structures of the enterprises making the real assessment insufficient and narrow scoped.This study aims to generate a general framework for generating an assessment model for SME evaluation through certain measures regarding their competencies. The provided model aims to measure five general competencies that are so called as; "Technological Competency", "Strategic Competency", "Financial Competency", "Intellectual Competency", "R&D and Innovation Competency". This study presents a new approach to facilitate the proposed model in order to generate an agent-based structure and a dynamic, flexible and adaptable intelligent system.

In recent times, financial inclusion and financial stability issue have become a priority on policy agendas across the world. However, there is relative dearth of empirical studies addressing and establishing the link between the same. This study fills this gap. Using panel data of 2001-2013, this study empirically investigated whether financial inclusion contributes to country's financial stability, measured by Z-score. Robust results from GMM dynamic panel data estimator show that financial inclusion variables as measured by number of SME borrowers to total borrowers and ratio of outstanding SME loans to total loans have significant positive contributions to financial stability. Findings also indicate that GDP per capita, liquidity, proportion of private credit to GDP are positively and proportion of domestic credit provided to private sector and financial crisis are negatively associated with financial stability. Empirical findings of this study is of greater significance to the policymakers as it will invoke the attention of governments and policymakers to undertake such policies to accelerate financial inclusion of their countries which in turn will lead to country's greater financial stability. This study also contributes to empirical literatures of the issue of financial inclusion and financial stability by reconfirming (or otherwise) findings of previous studies.

Purpose – This paper aims to investigate the effects of accessibility to bank branches on the capital structure of small- and medium-sized enterprises (SMEs) by analysing the change in three different leverage measures (total, short-term and long-term leverage). Design/method/approach – The analysis was conducted using random effects models on two data samples. The full sample consists of 19,064 SMEs while the other sample used to estimate the long-term leverage consists of 8,707 SMEs for two years, 2007 and 2013. Findings – The results show that the distance to the nearest bank branch has a negative relationship with total leverage and short-term leverage but a small positive relationship with long-term leverage. An interesting result from the robustness test shows that the distance to the nearest bank has a negative relationship with long-term leverage in SMEs in rural areas. Practical implications – SME owners and policy-makers may benefit from this research amidst the changing banking landscape; policy-makers can help to increase access to other types of funding to SMEs in bank deserts by increasing the volume of governmental loans. Originality/value – To the best of the authors' knowledge, the distance to the nearest bank branch office has not been examined in earlier literature as a determinant of leverage for SMEs. ; QC 20211124

In literature, there is inconsistent view of how the size of a company affects the level of credit risk. The aim of this research is to to determine whether the exposure to systemic risk increases with the size of the borrower. Empirical analysis of the time series of loan default rates, as dependent variable, on the one hand, and macroeconomic factors, as regressors, on the other hand, is based on the error correction model. Parallel to this, a panel data analysis was applied where panel units are defined at the level of the risk segment of the loan portfolio. Research results confirm that there is statistically significant impact of macroecnomic determinants on loan default rate in banking sector of Republic of Serbia. However, in the segment of small and medium-sized enterprises, the adjustment coefficient is not statistically significant. Along with this, in the short run, there is a statistically significant negative impact of the one-quarter lagged default rate on the default rate in the SMEs segment. Based on the research results, it can be inferred that the credit risk of the SMEs segment is the most resistant to the influence of macroeconomic factors. SME are the most flexible because they are not burdened by size, and on the other hand, they are not endangered as micro businesses by the risk of concentration of one large customer and weak negotiating position in relation to creditors and suppliers.