Small business creates 50% of jobs in G20, receives 6% of investment: Ernst & Young
by Canadian Manufacturing Daily Staff
Small businesses see investments of US$714-billion of the total US$11.5-trillion in all forms of investments
Toronto—Small- to medium-sized businesses across the G20 receive just six per cent of investment despite creating 50 per cent of jobs, according to new report.
Ernst & Young’s recently released report, Funding the Future, found small- to medium-sized enterprises (SME) see investments of US$714-billion of the total US$11.5-trillion in all forms of investments.
According to Ernst & Young, bank lending is still difficult to obtain—particularly in the early stages of growth—despite intervention by a number of governments throughout the G20.
Almost two thirds of more than 1,000 entrepreneurs surveyed from G20 nations found access to finance difficult in their respective countries, according to the advisory firm.