Like Switzerland, SMEs in the euro area provide around 70 percent of jobs. We compare the present Swiss survey data with the European survey conducted between 8 March and 22 April 2021 among more than 10,000 SMEs in the euro area. The survey covered developments from October 2020 to March 2021.
It shows that classic bank credits such as current accounts and loans are used significantly more frequently in the euro area (Figure 3). Supplier credit and factoring are also much more common than in Switzerland.
Factoring is used five times more frequently in the euro area, but it is not one of the most important financing instruments, with a six per cent share. It is striking, however, that private loans – the second most frequently used instrument in Switzerland (23%) – play a much less important role in the euro area (7%).
Pactum AG, in cooperation with the Lucerne University of Applied Sciences and Arts, has published a study that takes a close look at alternative SME financing in Switzerland (only in German):