Special report: Italian SME- Capital Structure Analysis

CRIF Ratings (‘CRIF’) has analyzed the evolution of the financial structure of more than 15,000 Italian Small and Medium Enterprises (SMEs), with a turnover between EUR10m and EUR500m over the last decade. The main finding of the study is the lack of financial flexibility that in CRIF’s view is a major factor  constraining the companies’ growth.

Limited banks disintermediation, large recourse to short term debt and a relatively little amount of cash on balance sheet compared to short term debt are the most common features of SMEs’ financial structures. As a consequence, the financial profile of Italian SMEs remains generally weak and too much reliant upon the banking system to support the short and long term financial needs.

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The Association of International Wealth Management of India (AIWMI) is a not-for-profit organization and a globally recognized membership association for finance professionals. AIWMI primarily focuses on the broad and strategic role of developing a more robust and forward-looking training infrastructure for the financial services sector and to promote more active industry involvement and collaboration in training and continuing education. AIWMI is offering advanced international certification programs along with a wide variety of high-quality executive education programs. AIWMI programs combine state-of-the-art knowledge and skills with practical experience and insights into the functioning of the financial sector. All AIWMI courses and educational events have an intense and pragmatic curriculum. Participants are exposed to the latest developments within the financial services sector. AIWMI plays a key role in guiding the development of the financial services sector. AIWMI works with key industry participants’ viz. the Government, the Regulators, the Industries/Associations, the Corporate, the Media and the General Public to achieve its objectives. Besides enhancing technical competence and professionalism in the industry, AIWMI organizes events and facilitates discussions to promote best practices in leadership and talent development in the financial sector with an aim to become Asia’s premier center of excellence for financial education.

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