Bank financing to SMEs in the Republic of North Macedonia: Evidence from Survey Data

Tanja Jakimova and Neda Popovska Kamnar ()
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Tanja Jakimova: National Bank of the Republic of North Macedonia
Neda Popovska Kamnar: National Bank of the Republic of North Macedonia

No 2019-01, Working Papers from National Bank of the Republic of North Macedonia

Abstract: This paper presents the main findings of the Survey for bank financing to small and medium enterprises (SMEs). The key objective was to capture the main features of the “supply side” of SMEs financing in the Republic of North Macedonia and to identify institutional and policy constraints of banks involvement with SMEs. The findings reveals that banks considered SMEs lending market as large, competitive, not very saturated, but with very positive outlook. While the main driver for bank involvement with SMEs sector is profitability and the good prospects of the SME segment, a number of obstacles are present, including SME-related factors, macroeconomic factors, legal and contractual environment and some bank-specific factors. The overall conclusion is that SMEs access to finance should be further supported and encouraged in order to increase their contribution to growth of the economy.

Keywords: small and medium enterprises; bank finance; survey data (search for similar items in EconPapers)
JEL-codes: G20 (search for similar items in EconPapers)
Pages: 33
Date: 2019
New Economics Papers: this item is included in nep-ban, nep-cfn, nep-ent, nep-fdg and nep-tra
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