News from 2016-10-25 / KfW Research

KfW SME Panel 2016

SMEs are using their financial buffers – but not boosting investment

Germany’s small and medium-sized enterprises presented themselves superbly in 2015 and lived up to their reputation as the country's job engine. Their turnovers grew steadily, their European business expanded, and their profitability and equity base remained high. SMEs used the financial buffer they built up in the past and employed more funds of their own than ever before to finance their investments. Despite the favourable financing environment, however, investment remained stagnant. But the outlook for the future remains positive and optimism is increasingly gaining the upper hand. Buoyed by a robust labour market, domestic demand will remain a reliable source of growth as well. This points to robust growth for SMEs.


KfW SME Panel 2016

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