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The Role of Factoring for Financing Small and Medium Enterprises

The Role of Factoring for Financing Small and Medium Enterprises PDF Author: Leora Klapper
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 39

Book Description
"Around the world, factoring is a growing source of external financing for corporations and small and medium-size enterprises (SMEs). What is unique about factoring is that the credit provided by a lender is explicitly linked to the value of a supplier ' s accounts receivable and not the supplier ' s overall creditworthiness. Therefore, factoring allows high-risk suppliers to transfer their credit risk to their high-quality buyers. Factoring may be particularly useful in countries with weak judicial enforcement and imperfect records of upholding seniority claims because receivables are sold, rather than collateralized, and factored receivables are not part of the estate of a bankrupt SME. Empirical tests find that factoring is larger in countries with greater economic development and growth and developed credit information bureaus. In addition, the author finds that creditor rights are not related to factoring ... " -- Cover verso.

The Role of Factoring for Financing Small and Medium Enterprises

The Role of Factoring for Financing Small and Medium Enterprises PDF Author: Leora Klapper
Publisher: World Bank Publications
ISBN:
Category :
Languages : en
Pages : 39

Book Description
"Around the world, factoring is a growing source of external financing for corporations and small and medium-size enterprises (SMEs). What is unique about factoring is that the credit provided by a lender is explicitly linked to the value of a supplier ' s accounts receivable and not the supplier ' s overall creditworthiness. Therefore, factoring allows high-risk suppliers to transfer their credit risk to their high-quality buyers. Factoring may be particularly useful in countries with weak judicial enforcement and imperfect records of upholding seniority claims because receivables are sold, rather than collateralized, and factored receivables are not part of the estate of a bankrupt SME. Empirical tests find that factoring is larger in countries with greater economic development and growth and developed credit information bureaus. In addition, the author finds that creditor rights are not related to factoring ... " -- Cover verso.

Financing Small and Medium-size Enterprises with Factoring

Financing Small and Medium-size Enterprises with Factoring PDF Author: Marie-Renée Bakker
Publisher:
ISBN:
Category : Factoring (Finance)
Languages : en
Pages : 56

Book Description


Expanding Access to Finance

Expanding Access to Finance PDF Author:
Publisher: World Bank Publications
ISBN: 0821371789
Category : Social Science
Languages : en
Pages : 122

Book Description
This book's prime audience is government policy-makers. It provides a policy framework for governments to increase micro, small and medium enterprises' access to financial services?one which is based on empirical evidence from around the world. Financial sector policies in many developing countries often work against the ability of commercial financial institutions to serve this market segment, albeit, often unintentionally. The framework guides governments on how to best focus scarce resources on three things: ? developing an inclusive financial sector policy; ? building healthy financial ins

Matarenda/Talents in Zimbabwean Pentecostalism

Matarenda/Talents in Zimbabwean Pentecostalism PDF Author:
Publisher: BRILL
ISBN: 9004446672
Category : Religion
Languages : en
Pages : 244

Book Description
In Matarenda/Talents in Zimbabwean Pentecostalism, the contributors reflect on how Pentecostalism contributes to the empowerment of marginalised societies, empowers women through the matarenda practices, and contributes to the development of wider society.

Small Business Management and Control of the Uncertain External Environment

Small Business Management and Control of the Uncertain External Environment PDF Author: Konstantinos Biginas
Publisher: Emerald Group Publishing
ISBN: 1839096268
Category : Business & Economics
Languages : en
Pages : 219

Book Description
This edited collection investigates the potential impact of long-term planning and strategic awareness on the ability of SMEs to remain competitive. The authors demonstrate that whether SMEs are able to identify and act upon external forces and factors, or not, is the defining indicator of their likelihood to struggle, survive, or thrive.

Financing SMEs and Entrepreneurs 2020 An OECD Scoreboard

Financing SMEs and Entrepreneurs 2020 An OECD Scoreboard PDF Author: OECD
Publisher: OECD Publishing
ISBN: 9264598537
Category :
Languages : en
Pages : 224

Book Description
The 9th edition of the Scoreboard on Financing SMEs and Entrepreneurs report provides data from 48 countries around the world on SME lending, alternative finance instruments and financing conditions, as well as information on policy initiatives to improve SME access to finance.

The European Observatory for SMEs

The European Observatory for SMEs PDF Author: European Observatory for SMEs
Publisher:
ISBN:
Category : Arbejdsmarkedet
Languages : en
Pages : 444

Book Description
Against the background of completing the European Single Market is the observance and monitoring of small and medium-sized enterprises (SMEs). With about 20 million such businesses, employing some 117 million people, SMEs represent an economic lynchpin to the success of the Single Market concept. This 6th report, from the Observatory, and prepared by a consortium led by KPMG Consulting, focuses on the economic and financial needs of SMEs. Specific chapters look at their products and services, the recruitment and training of staff, particulary vocational training, and their access to investment. The report is concluded with the set of policy recommendations, which are aimed at strengthening the entrepreneurial culture. These recommendations include: to provide more information on public procurement to SMEs; to promote further resarch on the impact of electronic commerce on the position of SMEs.

Financial Inclusion of Small and Medium-Sized Enterprises in the Middle East and Central Asia

Financial Inclusion of Small and Medium-Sized Enterprises in the Middle East and Central Asia PDF Author: Mr.Nicolas R Blancher
Publisher: International Monetary Fund
ISBN: 1484398173
Category : Business & Economics
Languages : en
Pages : 73

Book Description
The importance of financial inclusion is increasingly recognized by policymakers around the world. Small and medium-sized enterprise (SME) financial inclusion, in particular, is at the core of the economic diversification and growth challenges many countries are facing. In the Middle East and Central Asia (MENAP and CCA) regions, SMEs represent an important share of firms, but the regions lag most others in terms of SME access to financing.

formal versus informal finance: evidence from china

formal versus informal finance: evidence from china PDF Author: Vojislav Maksimovic
Publisher: World Bank Publications
ISBN:
Category : Access to Finance
Languages : en
Pages : 77

Book Description
Abstract: China is often mentioned as a counterexample to the findings in the finance and growth literature since, despite the weaknesses in its banking system, it is one of the fastest growing economies in the world. The fast growth of Chinese private sector firms is taken as evidence that it is alternative financing and governance mechanisms that support China's growth. This paper takes a closer look at firm financing patterns and growth using a database of 2,400 Chinese firms. The authors find that a relatively small percentage of firms in the sample utilize formal bank finance with a much greater reliance on informal sources. However, the results suggest that despite its weaknesses, financing from the formal financial system is associated with faster firm growth, whereas fund raising from alternative channels is not. Using a selection model, the authors find no evidence that these results arise because of the selection of firms that have access to the formal financial system. Although firms report bank corruption, there is no evidence that it significantly affects the allocation of credit or the performance of firms that receive the credit. The findings suggest that the role of reputation and relationship based financing and governance mechanisms in financing the fastest growing firms in China is likely to be overestimated.

Doing Business in 2004

Doing Business in 2004 PDF Author: Simeon Djankov
Publisher: World Bank Publications
ISBN: 9780821353417
Category : Juvenile Nonfiction
Languages : en
Pages : 222

Book Description
A co-publication of the World Bank, International Finance Corporation and Oxford University Press