Evolución y análisis de la financiación de la PYME en España

Joaquín López Pascual (2014). «Evolución y análisis de la financiación de la PYME en España«, en Revista de Economía ICE. Nº879. Ed. Ministerio de Economía y Competitividad,  pags. 113-124.

This article analyses the evolution of the financing of small and médium-sized enterprises, paying special attention to traditional financing and other sources of alternative financing to be fostered and considered by companies. The importance of small and medium-sized enterprises as a driver of growth and employment makes them a key element in economic growth policies.

This study analyses the economic context as a determining factor of their financing, chiefly the intensity of the crisis emerging with particular force from 2008 onwards, which modified the financing structures of companies and made their access to financing more complex. Various sources of financing are discussed, with a focus on bank lending, as most of the financing of these businesses comes from financial entities.

Other sources of financing are also discussed in a special section on sources that have still not reached a significant weight but could become a supplementary alternative to other more traditional sources used by our business fabric (i.e., business angels, crowdfunding, etc.), allowing SMEs to access different financing alternatives with a greater future projection-sources that are being implemented with the relevant regulatory developments on a national and a European level.

orcid.org/0000-0002-6236-9853