Market Gaps on Access to Finance - Bank of Valletta

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D5 – How would you classify the current stage of your company? (Prompt) - Still an idea / Developing prototype [Pre-seed]................................................................ 1 - Developing Business Plan / Setting up the company [Seed]............................................... 2 - Just formed the company / Product has been created / Introducing product to the market /<strong>Market</strong> testing the product [Start-up] ........................................................................... - Company registered its first profits recently / Hiring additional employees [Emerginggrowth]........................................................................................................................ - Focusing on maintaining loyal customers / Strengthening market position [Developmentgrowth (domestic)]........................................................................................................ - Reducing costs / Making production process more efficient/ Introducing an additional new product [Development-growth (domestic)]..................................................................... - Building new factory/ offices/ Planning to export in the near future/ Exporting product/ [Expansion-growth (export/internationalisation)]............................................................. - Other (Please specify) _____________________________________________________________ 8 Q1 - Who are the owners of your firm? - One owner only............................................................................................................. 1 - Family or entrepreneurs [more than one owner].............................................................. 2 - Other firms or business associates.................................................................................. 3 - Company is listed on the stock market (public shareholders)............................................. 4 - Other (Please specify) _____________________________________________________________ 5 - Don’t know/Not Available.............................................................................................. 6 Q2 – Can you kindly provide a rough indication of the current source/s of your funding? (Prompt) Page | 84 YES NO (Can’t say) A Own financing (incl. retained earnings) 1 2 99 B Financing from family/ friends 1 2 99 C Bank overdraft, credit line or credit cards overdraft 1 2 99 D Bank loans (excluding overdraft and credit lines) 1 2 99 E Trade credit (purchase of goods/ services from another business without making immediate cash payment) 1 2 99 F Other (please specify) ______________________ 1 2 99 2 Financing – A Company perspective In this section we will overview respondents’ perception of the availability of financing assistance to their particular SME. Q3 - How would you rate your company’s ability to raise finance (from a scale of 1 to 5, with 1 being “very hard” and 5 being “very easy”) for each of the following company requirements? (Prompt A to F) Very hard Hard Not so hard Easy Very easy (Can’t say) A Normal Day to day operations – internal finance 1 2 3 4 5 99 B Normal day to day operations -external finance 1 2 3 4 5 99 C Specific projects or investments – internal finance D Specific projects or investments – external finance 1 2 3 4 5 99 1 2 3 4 5 99 3 4 5 6 7
E Internal finance in your start-up phase [FOR COMPANIES IN EMERGING GROWTH, DEVELOPMENT GROWTH OR EXPANSION GROWTH AS PER Q5] F External finance in your start-up phase [FOR COMPANIES IN EMERGING GROWTH, DEVELOPMENT GROWTH OR EXPANSION GROWTH AS PER Q5] 1 2 3 4 5 99 1 2 3 4 5 99 Please provide your comments on Question 3: ____________________________________________________________________________________ ____________________________________________________________________________________ Q4 - Have you ever used/ applied for any of the following sources of finance and if not, why? (Prompt A to I) Yes, used Yes, applied Yes, applied but rejected / refused to proceed further Yes, applied but partially rejected Did not use them – unaware of advanta ges Page | 85 Did not use them – not available in Malta Did not use them – tradition al bank finance suffices Did not use them – internal finance suffices Did not use them – internal and tradition al bank finance suffice Did not use them – not relevant to my firm A National Grants/ Public aid 1 2 3 4 5 6 7 8 9 10 11 B EU funds 1 2 3 4 5 6 7 8 9 10 11 C Bank overdraft, credit line or credit card overdraft 1 2 3 4 5 6 7 8 9 10 11 D Bank loans 1 2 3 4 5 6 7 8 9 10 11 E Trade credit 1 2 3 4 5 6 7 8 9 10 11 F Other loan (e.g. related company/ shareholders, family, friends) G Leasing/ hirepurchase/ factoring H Equity from other sources (ex: business angels, venture capital funds I Public issue of own shares or own bonds Did not use them – other (PLEASE SPECIFY IN SPACE BELOW) 1 2 3 4 5 6 7 8 9 10 11 1 2 3 4 5 6 7 8 9 10 11 1 2 3 4 5 6 7 8 9 10 11 1 2 3 4 5 6 7 8 9 10 11 Please provide your comments on Question 4: ____________________________________________________________________________________ ____________________________________________________________________________________ Q5 – [TO BE ASKED TO RESPONDENTS WHOSE APPLICATION WAS REJECTED/ PARTIALLY MET IN Q9] What was the reason for your request being rejected/ only partially met/ your decision not to proceed further? General economic outlook Company’s sector of operation Stage in company lifecycle Lack of firm collateral Company’s credit history Refused - Cost too high Refused - Unacceptabl e T&Cs A National Grants/ Public aid (incl. Tax rebates) 1 2 3 4 5 6 7 8 B EU funds (grants) 1 2 3 4 5 6 7 8 C Bank overdraft, credit line or credit card overdraft 1 2 3 4 5 6 7 8 D Bank loans 1 2 3 4 5 6 7 8 E Trade credit 1 2 3 4 5 6 7 8 F Other loan (e.g. related company/ shareholders, family, friends) 1 2 3 4 5 6 7 8 G Leasing/ hire-purchase/ factoring 1 2 3 4 5 6 7 8 H Equity from other sources 1 2 3 4 5 6 7 8 I Public issue of own shares or own bonds 1 2 3 4 5 6 7 8 Other (PLEASE SPECIFY)
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