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International Financing Strategies for SMEs: Insights from Austria's Federal Economic Chamber

This presentation by Erich Kühnelt from the Austrian Federal Economic Chamber (WKÖ) discusses the financing landscape for Small and Medium Enterprises (SMEs) in the context of internationalization. With 440,000 members, WKÖ serves as a vital social and economic partner in Austria, assisting businesses with finance-related queries through its international agency, ADVANTAGE AUSTRIA. It highlights the current challenges in loan finance due to economic uncertainties and Basel III regulations, and emphasizes the necessity for diverse financing options to support Austrian companies in their global ventures.

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International Financing Strategies for SMEs: Insights from Austria's Federal Economic Chamber

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  1. SME FinanceforInternationalisation Erich Kühnelt Wirtschaftskammer Österreich (WKÖ) Austrian Federal EconomicChamber

  2. Wirtschaftskammer Österreich • publiclawChamberwithcurrently 440.000 members • socialandeconomicpartner in Austria • Givesadvicetocompanies in questionsoffinance • operates ADVANTAGE AUSTRIA as an Internationalization Agency for Austrian businesses • 115 offices in 70 countries, runbychambertradeprofessionals, actingas Commercial Counsellorsof Austrian Embassies, employing 800 peopleof 81 nationalities • 20.000 Austrian companiesareservicedeveryyear • serviceandinformationactivities(likeevents) • „go international“: variousactivitiestosupportinternationalisation, co-sponsoredbyMinistryof Economy

  3. Access tofinance – currentsituation • loanfinanceasmostimportantexternalsourceoffinance • demandside: companiesreluctanttoinvest due touncertaintiesovereconomicoutlook (debtcrisis) • supplyside: • banksaredeleveraging due torefinancingconditionsforbanksand Basel III; EBA goalofincreasedcapitalfor 70 systemicallyimportantbanks per June 30th • banksarecautious in loanpolicy due touncertaineconomicoutlook • banksdemandmorecollateralandhavetightenedlendingstandards

  4. necessaryactions • Basel III: • reductionofriskweightsfor SMEs andincreasingtheretailthresholdupto 2 Mio € • preventionof negative effects on tradefinance • preservationofthe diverse bankingstructure in Europe (big, medium-sizedandsmallbanks) • EU Guarantee Fund for MFF 2014 – 2020 • counter-guaranteesfor national/regional guaranteeinstitutions • Commissionintendstomakemoreuseoffinancialinstruments in 2014 – 2020 • promotionof alternatives tobankfinancing (venturecapital, mezzaninefinance, etc)

  5. necessaryactions • short-termexportcreditinsurance: simplifiedandfasterprocedureforapplicationof „escapeclause“ forsituationsofmarketfailure (Commission Communication on shorttermexportinsurance)

  6. thankyouforyourattention Erich Kühnelt Wirtschaftskammer Österreich Tel. +43 5 90 900-3739 e-mail: erich.kuehnelt@wko.at

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