What financing options do SMEs have?
October 2024 - Although their small scale gives them advantages, SMEs often struggle with limited financial resources to invest in innovation. To address this problem, the FPS Economy launched a campaign to inform SMEs about the various financing options available.
In Belgium, the vast majority of SMEs have fewer than 10 employees. Their small size makes them flexible, but many SMEs are not fully aware of their rights when applying for credit or of the alternative forms of financing available. In addition, small SMEs often experience difficulties in obtaining bank loans, especially due to a lack of collateral, a weak financial position or insufficient equity. During the corona crisis, many SMEs relied on public support to avoid bankruptcy, and even now, financial support remains crucial for their survival and growth.
Better protection
The federal government has introduced new regulations to better protect the rights of SMEs and create a more transparent relationship with lenders. The FPS Economy campaign aims to inform SMEs about their rights as borrowers, the obligations of banks, and financing options beyond traditional bank loans. The campaign focuses on the main challenges SMEs face, such as expanding their infrastructure, improving their IT systems or increasing their vehicle fleet.
The campaign uses recognisable themes and makes practical information accessible via social media and a dedicated landing page. The aim is not to take over the advisory role of banks, but to provide SMEs with the tools and knowledge needed to make informed financing decisions and realise their growth plans, contributing to a healthy and sustainable Belgian economy, according to the FPS Economy.
