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News from 2020-03-09 / KfW Research
Financing of digitalisation and capital expenditure in SMEs – a comparison
Do digitalisation projects have specific characteristics that conflict with external financing? To answer this question, this study compares the financing structure of digitalisation projects with that of investments using a statistical procedure from evaluation research.
The central finding is that the financing structure of both types of projects differs significantly – even when comparing companies that are similar in size, age, credit rating and the respective project scope. This indicates that special characteristics of digitalisation projects are an obstacle to financing with bank loans.
Financing of digitalisation and capital expenditure in SMEs – a comparison
