Workshop on Advisory Support for SME Access to Finance

The action plan on building a capital markets union of the European Commission identifies the strong need to support SMEs in obtaining access to more financing and a broader range of funding sources. To overcome information barriers that limit this access, it envisages a mapping of the existing support and advisory capacities assisting SMEs seeking finance in order to identify best practices and promote the replication of successful approaches across the European Union. The rationale for this action is to support the development of information architectures that help SMEs to identify, understand and access a wide range of funding sources which might be suitable for their financing needs.

As part of this policy action and based on the outcome of a survey of the Member States on the existing local or national support and advisory capacities on alternative finance across the European Union conducted in the spring of 2016, the Directorate-General for Financial Stability, Financial Services and Capital Markets Union organised a first workshop on advisory support for SME access to finance in Brussels. During this event, different categories of support and advisory capacities assisting SMEs seeking finance were presented, examples of online platforms showcased and recent national initiatives to facilitate SME access to alternative finance highlighted.

Presentations

Day 1

Session I – The case for raising SME awareness and understanding of alternative finance

• The case for raising SME awareness of alternative finance – presentation by Tania Ziegler, Research Programme Manager, Cambridge Centre for Alternative Finance
• How to support SMEs in accessing and understanding alternative finance? - The views of the SME Envoys Network – presentation by Pieter Waasdorp, Director Entrepreneurship and EU SME Envoy, Dutch Ministry of Economic Affairs

Session II –  National legislative initiatives to help SMEs gain access to finance

• Spanish Law 5/2015 for the promotion of business financing – presentation by Fernando Álvarez-Cienfuegos Rico, Spanish Ministry of Economy and Competitiveness
• UK structural reforms to make it easier for SMEs to gain finance from lenders other than their main bank – useful links to additional information

Day 2

• Opening speech: How technology innovation in finance facilitates SME access to finance? – presentation by Louise Beaumont, Head of Public Affairs & Marketing, GLI Finance Limited

Session III –  Information and advisory on-line portals on SME access to finance

• Finance Desk of the Netherlands Chamber of Commerce – presentation by Iman Merison, Manager Product Management, Netherlands Chamber of Commerce
• Information and advisory services on SME access to finance from the Flemish Agency for Innovation & Entrepreneurship – presentation by Iris Detavernier, Account Manager and Bie Boudolf, Coordinator of the project FINMIX, Flemish Agency for Innovation & Entrepreneurship
• The Irish Government’s Supporting SMEs Online Tool – presentation by Helena Quilty, Irish Department of Finance and Paula Cunniffe, Department of the Taoiseach

Session IV –  Intermediating platforms connecting SMEs to investors and alternative lenders

• VentureUp – presentation by Giovanni Fusaro, Head of VentureUp, Italian Private Equity, Venture Capital and Private Debt Association
• EuroQuity – presentation by Gilles Le Cocguen, Head of EuroQuity, Bpifrance
• FINK – presentation by Paul van Dijk, Programme Manager of Fink, Dutch Ministry of Economic Affairs