The global accountancy body commends MEP Othmar Karas’ report “Access to finance for SMEs and increasing the diversity of sme funding in a CMU”. ACCA fully shares the view that the diversity of SMEs should be mirrored by more diversity of choices of funding and a tailor–made regulatory approach.
[...] Rosana Mirkovic, Head of SMES Affairs at ACCA says: 'We fully endorse the call from MEPs to support businesses in their start-up, growth and transfer phases, taking into account their size, turnover and financing needs. Businesses are changing and innovating more rapidly than ever. Having the right financial capabilities remains vital throughout the life of a business, whether you are just starting out, have an established business or are looking towards a final exit from a firm.'
'We also welcome the call to make sure that programmes aimed at facilitating access to finance for SMEs do not disfavour women entrepreneurs”, Rosana Mirkovic adds.
ACCA also welcomes the call on the Member States to foster a risk-taking and capital market culture, in particular by improving the financial literacy and access to financial skills and knowledge of SMEs.
Rosana Mirkovic explains: 'Bank financing is very likely to remain the preferred funding choice for the large majority of SMEs. But not every demand for finance manifests itself through applications for bank credit, and diversification is needed to allow for a wider range of choices. We should also all encourage a more entrepreneurial and risk-taking culture. Capital markets will not flourish across Europe unless SMEs and other investors are willing to embrace non-debt finance and be comfortable with the risks in doing so. We also need the political action and will to achieve this goal.' [...]
Full press release
© ACCA - Association of Chartered Certified Accountants
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