SME Finance for Internationalisation Erich Kühnelt Wirtschaftskammer Österreich (WKÖ) Austrian Federal Economic Chamber
Wirtschaftskammer Österreich public law Chamber with currently members social and economic partner in Austria Gives advice to companies in questions of finance operates ADVANTAGE AUSTRIA as an Internationalization Agency for Austrian businesses 115 offices in 70 countries, run by chamber trade professionals, acting as Commercial Counsellors of Austrian Embassies, employing 800 people of 81 nationalities Austrian companies are serviced every year service and information activities (like events) „go international“: various activities to support internationalisation, co-sponsored by Ministry of Economy
Access to finance – current situation loan finance as most important external source of finance demand side: companies reluctant to invest due to uncertainties over economic outlook (debt crisis) supply side: banks are deleveraging due to refinancing conditions for banks and Basel III; EBA goal of increased capital for 70 systemically important banks per June 30th banks are cautious in loan policy due to uncertain economic outlook banks demand more collateral and have tightened lending standards
necessary actions Basel III: reduction of risk weights for SMEs and increasing the retail threshold up to 2 Mio € prevention of negative effects on trade finance preservation of the diverse banking structure in Europe (big, medium-sized and small banks) EU Guarantee Fund for MFF 2014 – 2020 counter-guarantees for national/regional guarantee institutions Commission intends to make more use of financial instruments in 2014 – 2020 promotion of alternatives to bank financing (venture capital, mezzanine finance, etc)
necessary actions short-term export credit insurance: simplified and faster procedure for application of „escape clause“ for situations of market failure (Commission Communication on short term export insurance)
thank you for your attention Erich Kühnelt Wirtschaftskammer Österreich Tel