Enhancement of MSMEs Earning Power
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1 2015/SMEMM/019 Agenda Item: Enhancement of MSMEs Earning Power Purpose: Information Submitted by: Japan 22 nd Small and Medium Enterprises Ministerial Meeting Iloilo, Philippines 25 September 2015
2 Enhancement of MSME's earning power September 2015 Parliamentary Vice-Minister of Economy, Trade and Industry Yoshihiro Seki 1
3 The presence of SMEs: Japan SMEs account for 99.7% of all enterprises, 68% of all employees and about 50% of added value. Small enterprises account for 87% of all companies and 26% of all employees, especially they account for larger employee ratio in the local economy. 10 thousand enterprises 0.3% Number of enterprises(3.86 million in total) 3.34 million enterprises 86.5% million million 25.8% 510 thousand enterprises 13.2% Large Enterprises Medium Enterprises Small Enterprises Number of employees (43 million in total) million 30.3% 100 (%) % 53.9% 29.9% Outside of three metropolitans Value added (Non-manufacturing industry) 56% 25,640,000employees Medium enterprises 44% Large enterprises Small Enterprises Three metropolitans (Tokyo, Nagoya, Osaka) Value added (manufacturing industry) LEs SMEs 17,330,000employees 51% 46.1% 38.5% 15.4% 49% 2
4 Case #1 AMAIKE Super-Organza Scarf named Robe of a celestial maid also known as AMAIKE Super- Organza in overseas markets. This scarf is woven from threads that are 1/5 1/6 the thickness of hair. The technology to weave extremely thin threads that are easy to cut was established by years of research and development. The lightest material weighs only 5g/ m2, swings as smoothly as air and shines brilliantly like water surface. 3
5 Case #2 High-quality childcare services High-quality childcare services with focus on Security, Safety, and Information Disclosure Webcams are installed for real-time streaming of children in the facility so that their parents can watch them from workplace or home and rest assured. This is a nursery school started up by a housewife who once gave up her career as a kindergarten teacher. 4
6 Support for Small Business Cooperation Promotion Project for Creation of Innovative Monozukuri Industries (Supporting Industry Project) Provide support to small- and medium-sized enterprises and small-business owners engaging in research and development utilizing Monozukuri technologies in cooperation with highereducation and public institutions. Subsidization rate: 2/3 Maximum: 45 million JPY Subsidiary for Reform of Monozukuri, Commerce, and Services Support small- and medium-sized enterprises and small-business owners for the cost of business innovation such as development of new products and services, improvement of operational processes, and introduction of new sales methods. Subsidization rate: 2/3 Maximum: 10 million JPY (development of new services, new products, and prototypes) 50 million JPY (5 million JPY/company; joint investment in equipment by multiple companies) Subsidy for Small-Business Owners to Make Their Business Sustainable Support small-business owners for the cost of market development initiatives implemented in collaboration with associations and chambers of commerce and industry. (e.g., cost for preparation of fliers, transportation cost for attending business conventions) Subsidization rate: 2/3 Maximum: 0.5 mil. JPY, 1 mil. JPY (measures for employment and disadvantaged consumers), 5 mil. JPY (joint initiatives by multiple business owners) 5
7 Why do we need SME finance policy? Bottlenecks of SME finance 1. Examination of application for new loans and subsequent monitoring don t become simpler with smaller loan amount. Private sector banks tend to prioritize lending to larger companies 2. Information asymmetry difficult to capture the financial condition of SMEs Private sector banks hesitate to take risks in SME finance 3. When economic crisis occur, this trend is accelerated. Private sector banks try to keep capital adequacy ratio and reduce lending to SMEs Solution 1.Credit guarantee Credit guarantee system covers some risk of loans enabling easier access by SMEs to private sector financing. 2.Government affiliated banks provide special loans Government affiliated banks provide special loans for SMEs to take more risk (entrepreneurship and new business) 3.Safety-net Government affiliated banks provide low interest loans for SMEs when economic crisis hit.(lehmanshock and Huge earthquake.) 6
8 Mitigation of crises (Financial Crises, Disasters, etc) Government (Ministry of Finance, Ministry of Economy,Trade and Industry) Loan Scheme Investment Subsidies Credit Guarantee Scheme Subsidies Japan Finance Corporation (JFC) Credit Guarantee Corporation (CGC) 1Two Step Loan 2Loss compensation Partial compensation for unrepaid amount 3Interest subsidies 4Direct Loan (Safety-net Loan) Guarantee Designated financial institutions [The Shoko Chukin Bank/ Development Bank of Japan] v Financial Institutions v Loan Low-interest loan Guaranteed Loan SMEs 7
9 Thank you for your attention 8
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