Baromètre Financement des PME et des startups – 3rd edition

Access to financing remains difficult

Digital SMEs are characterized by significant financing needs, for the growth of their activities in France as well as for innovation and R&D (top objectives for 51% of companies), and the financing of their working capital requirements (top for 43% of companies). Yet access to financing is still perceived as difficult, even if 2016 saw an improvement in the situation: 40% of companies say they have difficulty finding or obtaining financing (53% in 2015, 43% in 2014).

In addition to the usual problematic stages of seed financing (for 17% of companies) and development capital (29%), the entire financing chain is judged severely by more than a third of companies (31%).

In addition to financing, price competition, low margins and high labor costs are the main difficulties facing digital startups and SMEs.

Paradoxical relations with banks

Banks remain the primary source of financing for 49% of companies, and 72% are satisfied with their relationship with their banker. Business angels are judged more positively (by 51% of companies) than investment funds (35%) or banks (24%).

Digital startups and SMEs increasingly turn to public funding

The Research Tax Credit (CIR) scheme has become a must-have for digital startups and SMEs: 94% know about it and 64% use it. 50% of companies rate Bpifrance’s action positively; and 60% have already used its services (54% in 2015 and 43% in 2014).

“Digital startups and SMEs report that they are finding it less difficult to find and obtain financing, particularly through public schemes such as Bpifrance, and we hope that this trend will be confirmed in the coming months. Development in new markets, both in France and internationally, as well as innovation and R&D, remain the main objectives in the search for financing. We hope that this new five-year term will create the conditions for the development of the entire digital sector, and in particular its startups and SMEs.” concludes Laurent Baudart, General Delegate of Syntec Numérique.