News from 2019-10-15 / KfW Research

KfW SME Panel 2019

After a record year, dark clouds are gathering – SMEs between all-time highs and recession fears

Last year was again characterised by all-time highs for Germany’s SMEs (‘Mittelstand’). Employment in small and medium-sized enterprises (SMEs) broke another record, turnovers continued to soar and investment increased again. The KfW SME Panel 2019 also reveals that enterprises were more successful than ever in loan negotiations. Borrowing preferences once again shifted towards long-term bank loans. SMEs continue on the path of growth in 2019 but the momentum is clearly slowing. As the economic outlook dims, SMEs’ recession fears are growing – if on a high level for the time being. Overall, businesses face a year of uncertainty.

KfW SME Panel 2019

Press release

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