The European Commission’s most recent analysis of SME financing in Portugal makes unsettling reading. Access to finance is “much more difficult for Portuguese firms than for most of their peers in other EU countries,” says the 2012 SBA (Small Business Act) fact sheet. “What is worse,” this adds, “is that this happened in the face of a drastically improved credit climate in the EU overall.”
One reason for this is that Portugal has an unusually large but relatively unproductive SME sector by eurozone standards.
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