Cambridge Centre for Business Research : Three Surveys of the Financing of Small and Medium-sized Enterprises in Western Europe, 2001

These surveys focus on the funding of small and medium-sized enterprises (SMEs) in three different regions in Europe: South East England, Bavaria in southern Germany and Emilia-Romagna in Italy, against the background of increasing integration of Europe’s financial space, and the specific context of dramatic transformation of regional and local banking systems and the emergence of a venture capital market. <br> <br> The research focused on the implications of the restructuring, reorganisation and transformation of local and regional banking systems across Europe for the role of such banks in funding and supporting the SME sector. Local and regional banks are being rationalised as part of a wave of merger and reorganisation activity that is sweeping through Europe’s financial system. The concern is that what appears to be increasing centralisation of banking will have detrimental effects on the links between local firms, especially small and medium sized enterprises, and local banks, and the access of such firms to loan capital.