The COVID-19 crisis caused profound disruptions in the global economy, with SMEs and entrepreneurs, particularly hard hit. Swift measures implemented by governments and public financial institutions provided a crucial lifeline for liquidity-strapped SMEs. The 10th edition of Financing SMEs and Entrepreneurs 2022: An OECD Scoreboard sheds light on the impacts of the crisis on SME finance, tracking the latest developments in debt, equity, asset-based finance, and framework conditions, along with recent policy developments for 48 countries around the world.

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.

This report monitors SME and entrepreneur access to finance in 37 countries.

Financing SMEs and Entrepreneurs 2024: An OECD Scoreboard monitors SME and entrepreneurship financing trends, conditions and policy developments in close to 50 countries.

Sufficient and affordable access to different sources of finance is crucial to allow SMEs and entrepreneurs to reach their full potential. The 8th edition of the Scoreboard on SME and Entrepreneurship Finance report provides data from 46 countries around the world on debt finance, alternative finance instruments and financing conditions, as well as information on policy initiatives to improve their access to finance. In 2017, SME bank credit increased at a modest pace in many countries and declined in some others, in the context of broadly positive macroeconomic conditions, improvements in the business environment and accommodative credit conditions. In contrast, volumes were generally up for most other sources of finance relevant for SMEs and entrepreneurs, such as leasing, factoring, online alternative finance, and venture capital investments. At the same time, a growing share of SMEs relied on self-financing for their investment needs and cash flow requirements in 2017. The thematic chapter of this publication investigates the potential for SMEs to leverage their intangible assets to access external finance, especially debt.

Over the past few years, the global economy has suffered profound shocks that have had a marked impact on small and medium-sized enterprises (SMEs) and entrepreneurs. While government support protected SMEs from the economic impact of the COVID-19 pandemic, new threats have emerged.

Small and medium-sized enterprises (SMEs) that scale up have long raised policy interest for their extraordinary potential in terms of job creation, innovation, competitiveness and economic growth. Yet, little is known about which firms could effectively become scalers, and what policies could effectively promote SME growth.

Evaluation is the foundation of evidence-based policy. Yet there is a dearth of reliable impact evaluation in the area of SME and entrepreneurship policy. This publication issues OECD guidance on how governments can promote reliable SME and entrepreneurship policy evaluation.

“We were in absolute crisis, and we were risking a major, major meltdown of financial conditions, economic conditions and health conditions simultaneously.” —Steven Mnuchin, Secretary of the US Treasury, September 2020 “We packed months of legislative process into five days.” —US Senator Charles Schumer, March 2020 “Be fast, have no regrets. You must be the first mover. The virus will always get you if you don’t move quickly.” —Dr. Michael Ryan, World Health Organization/epidemiologist, March 2020 ____________________________________________ In early 2020, the American economy was roaring. Unemployment was historically low, and small business optimism was on the rise. And then the coronavirus changed everything. Lockdowns, massive unemployment claims, and small business closures spread throughout the country. Those who could do so worked from their homes, virtually educating their children and trying to maintain some sense of normalcy for their families. All they could do was watch the news as the media reported that millions of Americans were infected with the virus, and that many would ultimately lose their lives to complications associated with the disease. Along Main Streets across the country, the dreams of countless entrepreneurs faced permanent ruin; their hopes hung in the balance in the halls of Congress and within the walls of the Oval Office. The CARES Act was passed and signed into law in March 2020, with a price tag of over $2 trillion. Small businesses and their workers relied on various programs, including the now famed Paycheck Protection Program, which ultimately sought to inject $800 billion into the US economy. This is the story of that time, and what the world learned about the resilience of the entrepreneur. In Plandemic, former US Small Business Administration Acting Administrator and White House Senior Policy Advisor Chris Pilkerton contends that when the next pandemic hits, policymakers must be prepared with a focused action plan to support the economic engine of the United States of America: small business.

Digital technologies not only offer a vast potential to enhance firm productivity, they can also help enhance resilience and support economic recovery in times of war. The government has made significant strides in accelerating the digital transformation and has reinforced support for digitalisation since the onset of Russia’s full-scale invasion in February 2022. While digital technologies have brought significant benefits to the country, Ukraine’s SMEs are yet to fully tap into the potential of digitalisation. Beyond war-related challenges, lack of awareness, digital skills shortages, sectoral specificities, and financial constraints complicate their digital development. The government aims to further promote SME digitalisation and is currently preparing its SME Strategy 2024-27. Throughout 2023, the OECD provided guidance to Ukraine on how to help SMEs leverage digitalisation for productivity, resilience, and recovery. This report presents an overview of the findings, looking at i) ways to strengthen the national and subnational institutional and policy framework for SME digitalisation; ii) avenues for targeted digitalisation support services for SMEs, building on the OECD’s blueprint; and iii) specific ways digitalisation can help SMEs weather war-related challenges.