News from 2016-06-16 / KfW Research
SMEs face a wide range of barriers to innovation – support policy needs to be broad-based
SME innovation is hampered by various obstacles. Small and young enterprises grapple primarily with funding problems. Construction firms struggle mainly with bureaucratic barriers. Companies in “low-tech” segments and the skilled crafts sector mostly face problems with organisation and personnel, in combination with funding difficulties. These findings suggest that innovation support should be broad-based and must comprise both financial and non-financial support.
SMEs face a wide range of barriers to innovation – support policy needs to be broad-based
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