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BIAC B20 Event : Financing SMEs in Global Markets
Conscious of the financing challenge facing small- and medium-sized enterprises (SMEs) and the consequences for growth and investment, BIAC and B20 Turkey hosted a special event on Business Access to Global Value Chains and Financing SMEs on 4 June 2015 at the OECD Headquarters in Paris. Participants included senior representatives from SME associations, financial firms, multinational companies, governments, international organizations, and business federations. The event sought to pave the way for actions to support SMEs in GVCs, in contribution to the G20 Leaders’ Summit in November 2015. As our economies endure the slowest post-crisis global investment recovery since the early 1970s, there is a pressing need to unlock growth, investment and jobs. More must be done to enable businesses to serve their clients through global value chains (GVCs), which form the centerpiece of world trade and investment, and thereby enhance companies’ competitiveness, productivity, and propensity to invest. However, SMEs – which account for about 60 to 70 percent of employment and over 50 percent of value-added in OECD countries – have struggled to access the financing they require to participate in and across world markets, as banks have deleveraged to meet new regulatory requirements. Following the event, BIAC and B20 Turkey released a publication to convey key priorities to the G20 agenda in 2015. It presents a compilation of chapters by prominent thinkers on the financing of SMEs in GVCs, and draws upon the discussions held at the special event held on 4 June. The final chapter of the publication presents three overarching recommendations to G20 Leaders: 1. Focus on coordination, consultation and impact assessment 2. Raise SME access to finance and skills through an integrated approach 3. Maximize the sharing of information through digital platforms The publication is intended to serve as a key point of reference in preparing the G20 Leaders’ Summit Communiqué in 2015. For more information, please see here: http://biac.org/biac-b20-event-business-access-to-global-value-chains-and-financing-smes/ BIAC and B20 give appreciation to the following co-sponsors of the event and report: Lloyds Banking Group, Toronto-Dominion Bank Group, the Association of Chartered Certified Accountants (ACCA), the SME Finance Forum, and Willis Ltd. Video credits: Antoine Magne.
2016 Roundtable on Financing SMEs in Global Value Chains
This Roundtable builds upon the 2015 work BIAC undertook with the Turkish B20 and G20 Presidencies on SME financing. In contribution to B20 inputs to the G20 Leaders’ Summit in September 2016, the Roundtable identified synergies across the various B20 Task Forces’ recommendations and specifically how they can support the financing of SMEs in global markets in order to fuel investment and growth. Business leaders and senior government representatives discussed the opportunities and challenges associated with issues such as digitalization and cyber security, innovation, financial inclusion, green finance, and financial regulation. The Roundtable was co-organized by BIAC, B20 China, OECD, World SME Forum, and SME Finance Forum. The discussions are supported by a compilation of perspectives from leading thinkers on the topic, available online at: http://biac.org/wp-content/uploads/2016/06/Financing-Growth-SMEs-in-Global-Value-Chains.pdf