Published on November 6, 2023 at 10:33 am.Updated November 6, 2023 at 11:01 am
For SMEs, this year 2023 could well act as a turning point. Resilient despite multiple crises, they now face an increase in rates triple penalty. First effect: the increase in the cost of credit, which affects SMEs more seriously than large groups.
Although large companies can opt for their own funds, but also finance themselves through the issuance of bonds or private placements, SMEs are more limited. High credit risks, lack of market knowledge, associated costs and legal complexity make debt issuance an Everest for many small businesses. Bank debt then constitutes the only leverage to innovate, finance transitions or make acquisitions.