Business angels - possibility for European SMEs [small and medium‐sized enterprises]
2015
Dibrova, A., University of Latvia, Riga (Latvia)
Access to finance remains one of the top problems for SMEs in Europe, mainly because of their high relevance on traditional bank loans. In this paper, the main characteristics of European SMEs will be analysed. As one of the top problems for this class of enterprises in European Union is access to finance - the paper will evaluate the possibilities of Business Angels in solving this issue. The paper will also seek the answer of whether the possibilities of Business Angels meet the financial needs of SMEs and what could be done in order to enhance the positive outcome of their possible cooperation. The main conclusion of the paper stands that while having a great potential to finance and enhance the outcome of SMEs, so far, the performance of Business Angles had been rather poor. The broad fragmentation of the market, the lack of unified terminology and the absence of well-formed unified legislative base are highlighted as the main reasons for poor private investments in European SMEs.
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