News item | 29-09-2023 | 2:45 PM
A well-functioning financing market is crucial for small and medium-sized enterprises (SMEs). Only then can SMEs find suitable financing for growth, innovation and investments in sustainability. Minister Adriaansens of Economic Affairs and Climate wrote this in a letter to the House of Representatives. In it, she explains her strategy to improve the SME financing market and calls on the parties involved to reach an SME financing agreement. The aim is to create the best financing environment for Dutch SMEs in Europe.
The Netherlands has a diverse and rich financing landscape of financiers, financing advisors and government schemes to support the financing of SMEs. Yet entrepreneurs cannot always find their way in this financing landscape. It also appears that SMEs in the Netherlands have relatively difficulty obtaining financing compared to other countries and often pay higher interest rates.
Minister Adriaansens: “SMEs are of great value to the Dutch economy and we must cherish them. SMEs are responsible for more than 70% of employment. It is therefore important that they can quickly find suitable financing to continue to grow, innovate and invest.”
Funding Hub
To improve the findability of suitable financing, Minister Adriaansens instructed the SME Financing Foundation (SMF) to develop a so-called financing hub. This provides an overview of private financiers, advisors, public services and financing. The hub will play a central role in the referral and guidance of entrepreneurs towards financing solutions.
Other parts of the strategy to strengthen the SME financing market are a varied public and private financing offering, a professionalized alternative financing market, adequate support for entrepreneurs and improving data on the SME financing market.
SME financing agreement
Good access to financing for SMEs is necessary for a promising business climate and economic dynamism. Because of this shared social interest, Minister Adriaansens calls on financiers, advisors, business organizations, governments and supervisors to enter into discussions to conclude an SME financing agreement. These discussions are now being held and should lead to an agreement in the short term. The intended result is the best SME financing environment in Europe.