Temelkov, Zoran and Gogova Samonikov, Marija (2018) The need for fintech companies as non-bank financing alternatives for sme in developing economies. International Journal of Information, Business and Management, 10 (3). pp. 25-33. ISSN 2076-9202
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Abstract
Stricter banking regulation implemented in the post crisis period limited the access to finance for
SMEs even further. Limited access of funds combined with the riskiness of SMEs influenced banks’
readiness to lend funds to this sector. Thus, the development of small and medium enterprises is
significantly hindered. Considering the importance of SMEs for economic development, limited access to
finance consequently results in impeded economic growth.
Aside of obstructing the traditional financing channels, the post crisis period is characterized with
development of new financing alternatives. These non-bank financing alternatives enabled the expansion
of SMEs by providing new financing channels.
While in the developed countries fintech companies are going through a boom period, developing
countries still lag behind. Even though the fintech financing is offering numerous benefits for SMEs,
some countries are neglecting them and postpone their implementation.
| Item Type: | Article |
|---|---|
| Subjects: | Social Sciences > Economics and business |
| Divisions: | Faculty of Tourism and Business Logistics |
| Depositing User: | Zoran Temelkov |
| Date Deposited: | 03 Oct 2018 10:49 |
| Last Modified: | 03 Oct 2018 10:49 |
| URI: | https://eprints.ugd.edu.mk/id/eprint/20440 |
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