Preface - Foreword - Acknowledgements -- Reader's Guide -- Indicators -- Data collection -- Cross-country comparability -- methodological advances and recommendations for data improvements -- Acronyms and abbreviations -- Executive summary --1. Recent Trends in SME and Entrepreneurship Finance -- 1.1. Business environment and macroeconomic context -- Trade and business investment -- Financial conditions -- Lending to SMEs -- New SME loans -- Outstandingstock of SME loans -- SME loan shares -- Short-term versus long-term lending -- Credit conditions for SMEs -- Interest rates -- Collateral requirements -- Rejection rates SME loan applications -- Additional evidence on credit conditions from survey data -- Asset-based finance -- Leasing and hire purchases -- Factoring -- Self-financing -- Equitysources of financing Venture capital - Private debt -- Listings on stock exchanges -- Online alternative finance -- Business angel investments -- Payment delays, bankruptcies and non-performing loans -- Payment delays --Bankruptcies 59 -- Non-performing loans (NPLs) -- Government policy responses in 2017-18 -- Credit guarantee schemes are either in strong expansion or being reformed to better fit the needs of beneficiaries -- Governments increasingly implement policies to tackle payment delays -- Regulator:, approaches and targeted policies are in place to support Fintech developments -- New public senture capital fluids are being established and others expanded -- Recommendations for data improvements -- References -- 2. Fostering the use of Intagibles to strengthen SME, access to finance - introduction and rationale -- What are intangible assets and why do they matter The potential market failure to secure debt financing Challenges in funding intangibles -- Valuation -- Difficulties in obtaining effective security over intangible assets -- Redeployment issues and absence of liquid secondary markets -- Transaction costs -- Current practices of public support to intangible-backed financing --Europe -- China -- Japan -- Korea -- Malaysia -- Singapore -- United States -- Common features and variations of policy interventions -- Policy implications and lessons learned -- Reaching scale will require lowering transaction costs and the adoption of a long-term approach -- Guarantees (and insurance) appear to be crucial elements of the policy mix -- The private sector needs to be engaged -- A strong evidence base needs to be established and shared -- The market would benefit from more standardised valuations methods -- Patents are a solid starting point, but other types of intangibles should also be considered for collateralisation -- Potential future research -- References --Part L Country snapshots -- 3. Australia -- 4. Austria -- 5. Belgium -- 6. Brazil -- 7. Canada -- 8. Chile -- 9. Colombiu -- 10. Crech Republic -- II Denmark -- 12. Estonia -- 13. Finland -- 14. France -- 15 Georgia -- 16. Greece -- 17 Hungary - 18 Indonesia - 19 Ireland --20. Israel --21. Italy -- 22 Japan --23. Kazakhstan --24. Korea --25. Latvia -- 26. Lithuania --27. Luxembourg --28. Malaysia -- 29. Mexico -- 30. New Zealand -- 31. Norway -- 32. People's Republic of China -- 33. Peru -- 34. Poland -- 35. Portugal -- 36. Russian Federation -- 37. Serbia -- 38. Slovak Republic -- 39. Slovenia -- 40. South Africa -- 41. Spain -- 42. Sweden -- 43. Switzerland -- 44. Thailand -- 45. The Netherlands -- 46. Turkey -- 47. United Kingdom -- 48. United States -- Annex A. The EIB Group's support to SMEs and midcaps -The FIB Group's support to SMEs and midcaps -- The EIB Group's offer -- Increasing Policy Priorities -- Annex B. Effective approaches for implementing the G20/OECD High-level Principles on SME financing -- Annex C. Methodology for producing the national Scoreboards -- Scoreboard indicators and their definitions -- Core indicators -- Data sources and preferred definitions Inflation-adjusted data -- SM target population -- Timeframe for data collection -- Data sources -- Deviations from preferred definitions of indicators -- SME loans -- SME loans requested, authorised and used -- Government loan guarantees and guaranteed loans -- SME credit conditions -- Equity financing -- Asset-based finance -- Non-performing loans -- Payment delays and bankruptcies --ifferences in definitions of an SME -- Impact of diversity in definitions -- Recommendations for data improvements -- Standardised template -- Core indicators -- Medium and long-term objectives Notes --Annex D. Standardised table for SME finance data collection