ACCESS TO CREDIT INSTRUMENTS: THE CHALLENGE OF SMALL AND MEDIUM ENTERPRISES TO OBTAIN FINANCING

Resumo

This article studies the access of Small and Medium-sized Enterprises (SMEs) to financial resources for maintenance, growth and innovation. As they are a fundamental segment in generating employment and income in countries, SMEs face the challenge of managing their own financial resources in addition to seeking access to third-party capital for financing through loans, investments, tax incentives or subsidized resources. Based on bibliographical research, it was possible to identify and evaluate access to credit for SMEs when subjected to the traditional credit analysis method, which is still dominant. Furthermore. alternative instruments to the traditional financial system, especially Equity Crowdfunding, was identified as an option in the face of the current difficulty in accessing credit, presenting itself as a channel to bring these companies closer to a greater number of investors. In this way, this instrument, which has been applied in several countries, is consolidated as a new channel for companies, contributing to changing the scenario of demand for credit and resulting in an increase in the level of innovation and competitiveness of the economy.