Internal resources, bank credit and other funding sources : what are the alternatives for businesses in Belgium?
研究了比利时企业除留存收益外依赖的融资来源，指出银行信贷对中小企业主导但创新企业因风险高而更多依赖非银行贷款。
Businesses are partly reliant on whatever sources of funding they can find for their activity and development. Quite independently of the resources they generate through retained earnings, the financing instruments actually used by firms depend on their respective costs, as well as on the nature of the funding requirements and the firms’ own characteristics. Firms forming part of a group have certain facilities at their disposal, such as access to liquidity reserves common to their group. Other companies, which make up the lion’s share of Belgian firms, do not have such financing facilities and usually resort to bank credit which plays a predominant role in funding SMEs. However, some firms have more limited access to bank loans ; this is particularly true of innovative companies, that have a more risky profile, and, for this reason, are reliant on other sources of funding (non-bank loans in particular).