Closing the Credit Gap for Formal and Informal Micro, Small, and Medium Enterprises

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dc.creatorStein, Peer
dc.creatorArdic, Oya Pinar
dc.creatorHommes, Martin
dc.date2015-04-13T18:11:47Z
dc.date2015-04-13T18:11:47Z
dc.date2013-08
dc.date.accessioned2026-07-01T00:50:20Z
dc.descriptionJob creation and economic growth through private sector development have become primary areas of focus for policy makers around the world in the aftermath of the global financial crisis. Recent evidence points to the importance of small and medium enterprises (SMEs) in providing employment across countries. In addition to employing the largest number of people in aggregate, SMEs generate the most new jobs. But SMEs also face many challenges in day-to-day operations and to grow. This note is a report back on the state of the credit gap for MSMEs with this new and updated data, while providing additional focus on the sizable informal enterprise sector in the developing world. In addition, this report examines various operational challenges that small and informal firms face, and some formalization obstacles they often cite as the primary reasons for not registering their business. A framework to differentiate the informal sector is offered, with the intention of segmenting the vast landscape of informal firms some of which exist today due to opportunistic behavior, while others are just trying to survive and to better design specific interventions depending on the stage of development and the willingness of the firm to register its business. The rest of this report is organized as follows. Section I focuses on the credit gap for formal MSMEs, and offers some innovative models and interventions that can be used to more fully meet the financial and non-financial needs of formal MSMEs. Section II focuses exclusively on informal enterprises, and goes beyond the access to finance paradigm, describing the operational challenges faced by informal firms, reviewing the experiments that have tried to induce higher rates of formalization, and looking at a series of private sector models that if combined, could more fully meet the needs of informal firms.
dc.formatapplication/pdf
dc.formattext/plain
dc.identifierhttp://documents.worldbank.org/curated/en/2013/01/24162672/closing-credit-gap-formal-informal-micro-small-medium-enterprises
dc.identifierhttps://hdl.handle.net/10986/21728
dc.identifierhttps://doi.org/10.1596/21728
dc.identifier.urihttp://hdl.handle.net/123456789/411768
dc.languageEnglish
dc.languageen_US
dc.publisherInternational Finance Corporation, Washington, DC
dc.rightsCC BY-NC-ND 3.0 IGO
dc.rightshttp://creativecommons.org/licenses/by-nc-nd/3.0/igo/
dc.rightsInternational Finance Corporation
dc.subjectACCESS TO BANK ACCOUNTS
dc.subjectACCESS TO CREDIT
dc.subjectACCESS TO EDUCATION
dc.subjectACCESS TO FINANCE
dc.subjectACCESS TO FINANCIAL SERVICES
dc.subjectACCESS TO INFORMATION
dc.subjectACCESS TO MARKET
dc.subjectACCESS TO MARKETS
dc.subjectACCESS TO RESOURCES
dc.subjectACCESSIBILITY
dc.subjectACCOUNTING
dc.subjectACCOUNTS RECEIVABLE
dc.subjectADVISORY SERVICES
dc.subjectAFFILIATES
dc.subjectAGRICULTURAL ACTIVITIES
dc.subjectAVAILABILITY OF CREDIT
dc.subjectBANK ACCOUNT
dc.subjectBANK ACCOUNTS
dc.subjectBANK FINANCING
dc.subjectBANK LENDING
dc.subjectBANKING MODELS
dc.subjectBANKING SECTOR
dc.subjectBANKING SERVICES
dc.subjectBANKS
dc.subjectBORROWER
dc.subjectBRANCH
dc.subjectBRANCH NETWORK
dc.subjectBRIBE
dc.subjectBRIBES
dc.subjectBUSINESS ASSOCIATION
dc.subjectBUSINESS ASSOCIATIONS
dc.subjectBUSINESS ENABLING
dc.subjectBUSINESS ENABLING ENVIRONMENT
dc.subjectBUSINESS OPPORTUNITY
dc.subjectBUSINESS OWNERS
dc.subjectBUSINESS PLAN
dc.subjectCAPACITY BUILDING
dc.subjectCAPITAL LOANS
dc.subjectCAPITAL STOCK
dc.subjectCASH FLOW
dc.subjectCASH FLOWS
dc.subjectCHECKING
dc.subjectCHECKING ACCOUNT
dc.subjectCHECKING ACCOUNTS
dc.subjectCOLLATERAL
dc.subjectCOLLATERAL REQUIREMENTS
dc.subjectCOMMERCIAL BANKING
dc.subjectCOMMERCIAL BANKS
dc.subjectCOMMERCIAL LOANS
dc.subjectCOMPANY
dc.subjectCOMPETITORS
dc.subjectCONSULTING SERVICES
dc.subjectCONTRACT ENFORCEMENT
dc.subjectCORPORATION
dc.subjectCORPORATIONS
dc.subjectCORRUPTION
dc.subjectCOUNTRY COMPARISONS
dc.subjectCREDIT BUREAUS
dc.subjectCREDIT CONSTRAINT
dc.subjectCREDIT DECISIONS
dc.subjectCREDIT GAP
dc.subjectCREDIT GUARANTEE
dc.subjectCREDIT HISTORY
dc.subjectCREDIT MARKET
dc.subjectCREDIT RISK
dc.subjectCREDITWORTHINESS
dc.subjectCULTURAL BARRIERS
dc.subjectCUSTOMER BASE
dc.subjectDEMAND FOR CREDIT
dc.subjectDEPOSIT
dc.subjectDEPOSIT ACCOUNT
dc.subjectDEPOSIT PRODUCTS
dc.subjectDEPOSITS
dc.subjectDEVELOPING COUNTRIES
dc.subjectDEVELOPMENT FINANCE
dc.subjectDEVELOPMENT FINANCE INSTITUTIONS
dc.subjectE-LEARNING
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC COOPERATION
dc.subjectECONOMIC DEVELOPMENT
dc.subjectECONOMIC GROWTH
dc.subjectEMERGING MARKETS
dc.subjectEMPLOYER
dc.subjectEMPLOYERS
dc.subjectEMPLOYMENT GROWTH
dc.subjectEMPLOYMENT OPPORTUNITIES
dc.subjectENTERPRISE FINANCE
dc.subjectENTREPRENEUR
dc.subjectENTREPRENEURIAL ACTIVITY
dc.subjectENTREPRENEURSHIP
dc.subjectEXCLUSION
dc.subjectEXTERNAL FINANCE
dc.subjectFACILITATION
dc.subjectFINANCE INITIATIVE
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL INFRASTRUCTURE
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL INTERMEDIARIES
dc.subjectFINANCIAL LITERACY
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL NEEDS
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL SERVICES FOR WOMEN
dc.subjectFINANCIAL SUSTAINABILITY
dc.subjectFINANCING SHORTFALL
dc.subjectFIRMS
dc.subjectFORMAL ECONOMY
dc.subjectFORMAL FINANCIAL SECTOR
dc.subjectFORMAL FINANCIAL SERVICES
dc.subjectGENDER
dc.subjectGENDER EQUALITY
dc.subjectGREATER ACCESS
dc.subjectGUARANTEE SCHEMES
dc.subjectHUMAN CAPITAL
dc.subjectHUSBAND
dc.subjectID
dc.subjectINCOME GROUP
dc.subjectINFORMAL ECONOMY
dc.subjectINFORMAL FINANCE
dc.subjectINFORMAL FINANCING
dc.subjectINFORMATION DISSEMINATION
dc.subjectINFORMATION SYSTEMS
dc.subjectINFORMATIONAL ASYMMETRIES
dc.subjectINSURANCE
dc.subjectINSURANCE AGENCIES
dc.subjectINTEREST RATES
dc.subjectINTERNAL FUNDS
dc.subjectINTERNATIONAL FINANCE
dc.subjectINVENTORY
dc.subjectJOB CREATION
dc.subjectLACK OF ACCESS
dc.subjectLACK OF COLLATERAL
dc.subjectLACK OF CREDIT
dc.subjectLACK OF INFORMATION
dc.subjectLARGE ENTERPRISES
dc.subjectLAWS
dc.subjectLEASING
dc.subjectLENDERS
dc.subjectLIMITED ACCESS
dc.subjectLIMITED ACCESS TO FINANCE
dc.subjectLINES OF CREDIT
dc.subjectLOAN
dc.subjectLOAN GUARANTEES
dc.subjectLOANS FOR WOMEN
dc.subjectLOANS FOR WOMEN ENTREPRENEURS
dc.subjectLOANS TO WOMEN
dc.subjectMANAGEMENT INFORMATION SYSTEMS
dc.subjectMANUFACTURERS
dc.subjectMEDIUM ENTERPRISE
dc.subjectMEDIUM ENTERPRISES
dc.subjectMICRO ENTERPRISES
dc.subjectMICRO-ENTERPRISES
dc.subjectMICROENTERPRISES
dc.subjectMICROFINANCE
dc.subjectMICROFINANCE INSTITUTIONS
dc.subjectMONETARY FUND
dc.subjectMOVABLE COLLATERAL
dc.subjectMULTINATIONAL
dc.subjectMULTINATIONAL COMPANIES
dc.subjectMULTINATIONALS
dc.subjectNEEDS OF WOMEN
dc.subjectNEEDS OF WOMEN ENTREPRENEURS
dc.subjectNET LOSS
dc.subjectNEW BUSINESSES
dc.subjectNEW MARKET
dc.subjectNEW MARKETS
dc.subjectOUTREACH
dc.subjectOVERDRAFT
dc.subjectOVERDRAFTS
dc.subjectPARTIAL CREDIT
dc.subjectPARTIAL GUARANTEE
dc.subjectPEER REVIEW
dc.subjectPENETRATION RATES
dc.subjectPOINT OF SALE
dc.subjectPRIVATE COMMERCIAL BANKS
dc.subjectPRIVATE COMPANIES
dc.subjectPRIVATE CREDIT
dc.subjectPRODUCTIVITY
dc.subjectPROFITABILITY
dc.subjectPROPERTY LAW
dc.subjectPUBLIC FUND
dc.subjectPUBLIC POLICY
dc.subjectREAL ESTATE
dc.subjectREAL SECTOR
dc.subjectRECEIPTS
dc.subjectREGISTRATION PROCESS
dc.subjectREGULATORY BURDEN
dc.subjectREGULATORY REFORM
dc.subjectREGULATORY REFORMS
dc.subjectRETURN ON INVESTMENT
dc.subjectRISK MANAGEMENT
dc.subjectSAVINGS
dc.subjectSAVINGS ACCOUNTS
dc.subjectSECURITIES
dc.subjectSHOPS
dc.subjectSIZE OF FIRM
dc.subjectSMALL BUSINESS
dc.subjectSMALL BUSINESS BANKING
dc.subjectSMALL ENTERPRISES
dc.subjectSMALL FIRMS
dc.subjectSMART CARDS
dc.subjectSME
dc.subjectSME FINANCE
dc.subjectSME FINANCING
dc.subjectSME LENDING
dc.subjectSME SECTOR
dc.subjectSOCIAL SECURITY
dc.subjectSTATE OWNED BANKS
dc.subjectSTORE
dc.subjectSUBSIDIARY
dc.subjectSUPPLIERS
dc.subjectSUPPLY CHAIN
dc.subjectSUPPLY CHAINS
dc.subjectTAX LIABILITY
dc.subjectTERMS OF LOANS
dc.subjectTIME DEPOSITS
dc.subjectTRANSACTION COSTS
dc.subjectTRANSPORTATION SERVICES
dc.subjectUNEMPLOYMENT
dc.subjectWOMAN
dc.subjectWOMEN ENTREPRENEURS
dc.subjectWORKING CAPITAL
dc.titleClosing the Credit Gap for Formal and Informal Micro, Small, and Medium Enterprises
dc.typeWorking Paper
dc.typeDocument de travail
dc.typeDocumento de trabajo

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