National and International Practices of Innovative SME Financing

Abstract

In market economy, the small and medium-sized enterprise (SME) sector is an important segment of the national economy, which contributes significantly to the development of society. Its role is undeniable in stimulating production, growth and diversification, triggering innovation, improving quality and increasing competitiveness, creating the supply and meeting the demand for goods, creating new jobs. The development of small and medium-sized enterprises mainly depends on the company's ability to access and successfully gather its existing financial resources. This option gains even more importance when the lack of funding represents one of the basic problems that entrepreneurs face in trying to organize and expand their business to achieve high performance and to be competitive and innovative.