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Research and development (R&D) in SMEs: internal funding capacity determines scope of R&D expenditure

News from 2017-12-05 / KfW Research

German SMEs’ internal funding capacity determines whether they conduct R&D and how much they spend on it. Credit rating, on the other hand, is not a factor. R&D funding thus differs fundamentally from capital expenditure funding. This is probably because R&D projects involve high uncertainty of success and little investment in tangible assets.

Research and development (R&D) in SMEs: internal funding capacity determines scope of R&D expenditure  (PDF, 276 KB, non-accessible)

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Economic Research

Economic Research

Economic development in Germany and around the world, studies on topics relevant to society such as environmental and climate protection, demography, globalisation, innovation and sustainability, impact of KfW promotional programmes.

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