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ICC discusses the need of diversified funding options for SMEs in World Commerce Review

Vincent O'Brien- high resDespite playing a vital role in facilitating trade – both as principal traders and as part of global supply chains – small and medium-sized enterprises (SMEs) are struggling to access funding.

Indeed, data from ICC’s latest Global Survey on Trade Finance – which surveyed 482 banks across 112 countries – shows that SMEs are finding it significantly more challenging to access trade finance than their large corporate counterparts. Vincent O’Brien, trade finance expert and chair of the ICC Banking Commission Market Intelligence Group, explains in this month’s World Commerce Review why bank funding constraints remain a major obstacle in trade finance, and identifies new and alternative sources of financing for SMEs.

To read the full article, please click here and turn to p16

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