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Innovative financing to promote SMEs

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Frame of Image Institutions like WBG
Why are SMEs important?
• Most formal jobs in emerging markets are SME jobs [7 in 10 formal jobs provided by SMEs, rises to 9 in 10 in some low income countries]; • SMEs are estimated to create 4 out of 5 new formal jobs in emerging markets – although their net contribution may well be lower due to “job churn”; • 600 million new jobs are needed over the next 15 years to absorb a growing workforce a nd tackle unemployment; • SMEs can be important channels for supporting increased economic participation by women and youth; • Competitive SME sectors create more diversified, agile and resilient economies – improving p roductivity and competitiveness; • A vibrant SME sector can enhance innovation; • SMEs can also be a key channel for supporting other development goals such as food security, better geographic dispersion of development, better health and education and a reduction in climate change
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SMEs and Employment
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Outline
• Why are SMEs important?
• Constraints to SME development
• The SME financing gap • Innovative Financing Opportunities for SMEs • Broad Policy Recommendations for Facilitating Innovations • Role of International Financial Institutions like WBG
Job creation in EMs is stunted by lack of finance, electricity, business climate & skills
Percent of Enterprises citing biggest obstacle
(SMEs between 5 -100 employees)
Source: Enterprise Surveys database 2014
In 71% of countries, SMEs cite Access to Finance as the biggest obstacle
Access to Elec


Full Text
Title Innovative financing to promote SMEs
Similar Titles
Material Type Proceedings
Author(English)

Goyal, Sameer

Publisher

World Bank Group

Date 2015-11
Pages 29
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Financial Policy
Industry and Technology < Entrepreneurship