Financing innovation in SMEs: a systematic review of financing channels

What is it about?

This article provides a comprehensive overview of the various channels available for financing innovation in SMEs. By systematically reviewing the existing literature, it identifies the key factors that contribute to successful innovation funding and highlights the most effective channels. The study also explores the differences in the impact of these channels across different regions and sectors, pointing out gaps in the current research. The findings emphasize the importance of a strategic approach to managing a mix of traditional and emerging financing options to maximize innovation in SMEs. Additionally, the study offers practical recommendations for policymakers and financial institutions to develop financial products that cater to the unique needs of SMEs, ensuring that they have access to the resources necessary for innovation.

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