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Developing EU Capital Markets for SMEs: Mission impossible?

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  • Thomadakis, Apostolos

Abstract

Bank lending is the most common source of external finance for SMEs, but it doesn�t suit all of them. Young, innovative and fast-growing SMEs, in particular, do not have the required cash flows and collateral for bank financing and need alternatives to unlock their growth potential. Market-based finance is one alternative to help finance the activities of these SMEs. The European Commission�s renewed activities to develop market-based financing need to be stepped up in order to develop a credible capital market to finance SMEs in the EU.

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  • Thomadakis, Apostolos, 2017. "Developing EU Capital Markets for SMEs: Mission impossible?," ECMI Papers 12961, Centre for European Policy Studies.
    • Handle: RePEc:eps:ecmiwp:12961
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    File URL: https://www.ceps.eu/publications/developing-eu-capital-markets-smes-mission-impossible
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