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The Single Market and Competitiveness Scoreboard

Access to finance

Access to finance and the Single Market – why does it matter?

Several policy tools under the Single Market (e.g. State-aid, the Late Payment Directive) promote the availability of finance to entrepreneurs, notably small and medium-sized enterprises (SMEs) and innovative firms.

The indicators in this section shed light on the Single Market’s performance in terms of access to finance conditions. The indicators focus on stakeholders’ perceptions as to the availability of public support, the payment delays in business-to-business (B2B) transactions and the availability of venture capital.

Access to public financial support: share of business that indicated a deterioration

The indicator measures the share of SMEs perceiving a deterioration in the ease of accessing public financial support. A lower share therefore indicates a more positive perception of the conditions for access to public financial support.

Source: European Commission, SAFE Survey

Time to get paid by businesses

This indicator measures the number of days it takes for a company to get its invoices paid by the customer, focusing only on business-to-business (B2B) payments. Lower figures on the indicator are better because the goal is to reduce payment times. Unlike the public administration indicator, this measures the total number of days to get paid, not the payment delays over contractual deadlines. Negative figures are therefore not possible.

Source: Intrum, European Payment Report 2024

Venture capital to GDP

Venture capital is a form of equity financing that is particularly relevant for young companies with innovation and growth potential but untested business models and no track record. It replaces and/or complements traditional bank financing.

The chart measures venture capital investments in a Member State as a percentage of its GDP.

Member States with the highest values are more effective in attracting venture capital investment.

Sources: Invest Europe, Eurostat, OECD and Statista

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