Transcript Presentation by Mr Erich Kühnelt, EuroCommerce and the Austrian

SME Finance for
Internationalisation
Erich Kühnelt
Wirtschaftskammer Österreich (WKÖ)
Austrian Federal Economic Chamber
Wirtschaftskammer Österreich




public law Chamber with currently 440.000 members
social and economic partner in Austria
Gives advice to companies in questions of finance
operates ADVANTAGE AUSTRIA as an Internationalization
Agency for Austrian businesses




115 offices in 70 countries, run by chamber trade
professionals, acting as Commercial Counsellors of Austrian
Embassies, employing 800 people of 81 nationalities
20.000 Austrian companies are serviced every year
service and information activities (like events)
„go international“: various activities to support
internationalisation, co-sponsored by Ministry of Economy
Access to finance – current situation
 loan finance as most important external source of finance
 demand side: companies reluctant to invest due to
uncertainties over economic outlook (debt crisis)
 supply side:



banks are deleveraging due to refinancing conditions for
banks and Basel III; EBA goal of increased capital for 70
systemically important banks per June 30th
banks are cautious in loan policy due to uncertain economic
outlook
banks demand more collateral and have tightened lending
standards
necessary actions
 Basel III:


reduction of risk weights for SMEs and increasing the retail
threshold up to 2 Mio €
prevention of negative effects on trade finance
 preservation of the diverse banking structure in Europe
(big, medium-sized and small banks)
 EU Guarantee Fund for MFF 2014 – 2020


counter-guarantees for national/regional guarantee
institutions
Commission intends to make more use of financial
instruments in 2014 – 2020
 promotion of alternatives to bank financing (venture
capital, mezzanine finance, etc)
necessary actions
 short-term export credit insurance: simplified and faster
procedure for application of „escape clause“ for
situations of market failure (Commission Communication
on short term export insurance)
thank you for your attention
Erich Kühnelt
Wirtschaftskammer Österreich
Tel. +43 5 90 900-3739
e-mail: [email protected]