Detail publikace

What are the biggest obstacles to growth of SMEs in developing countries? - A picture emerging from an enterprise survey

Autor: Msc Yao Wang PhDr,
Typ: IES Working Papers
Rok: 2016
Číslo: 9
ISSN / ISBN:
Publikováno v: IES Working Papers 9/2016
Místo vydání: Prague
Klíčová slova: SMEs; Obstacles to Growth; Financing Dilemma; Developing Countries, firm characteristics, internal and external barriers
JEL kódy:
Citace: Wang Y. (2016). "What are the biggest obstacles to growth of SMEs in developing countries? - A picture emerging from an enterprise survey” IES Working Paper 9/2016. IES FSV. Charles University.
Abstrakt: SMEs are drivers of economic growth and job creation in developing countries. It is paramount to determine the factors that hinder their growth. This paper uses the Enterprise Survey from the World Bank which covers data from 119 developing countries to investigate the biggest obstacles SMEs are confronting and the determinants that influence the obstacles as perceived by enterprise managers. The results show that SMEs perceive access to finance as the most significant obstacle which hinders their growth. The key determinants among firms’ characteristics are size, age and growth rate of firms as well as the ownership of the firm. The latter – the role of the state in financing SME - is particularly intriguing. External reasons for the financing dilemma are also examined. It is shown that the main barriers to external financing are high costs of borrowing and a lack of consultant support.
Ke stažení: wp_2016_09_wang

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