Results can guide public policies to foster innovation
ABES conducted a survey among technology companies on access to bank financing, with the objective of understanding how these companies have been refinancing themselves in the Brazilian market, considering interest rates, size, services provided, maturity, billing and location. The study also sought to understand the companies' perception of investment funds, another way of raising funds.
Applied between September and October 2016, the survey heard companies from all regions of the country, with the support of Softsul and TecnoPuc (RS); Acate (SC); CITs and PTI (PR); Brasscom, Cietec, RPI and Softex Campinas (SP); Tec Vitória (ES) and Porto Digital (PE), who contributed to the distribution of the questionnaires.
184 companies responded to the questionnaire. “This sample brings a perception of the profile of technology companies in Brazil and can help banks create investment lines appropriate to the reality of these businesses”, explains Jamile Sabatini Marques, director of Innovation and Promotion at ABES.
“Among the main results of the study, we can highlight the profile of technology companies and the indications regarding difficulties in accessing credit. The majority, 58.7%, is active in software development, affirming the innovative characteristic of the sector. The responses in relation to commercial banks and public resources demonstrate a mismatch between the needs of companies and the offers of support lines to serve the sector ”, analyzes Jamile.
Company Profile
Of the total sample, 22.8% of the companies have between 5 and 9 years of experience in the market. The majority, 54%, have their headquarters located in the southern region of the country; 39% in the Southeast region, 27% being only in the State of São Paulo. Only 7% of the interviewees are from the North, Northeast and Midwest.
Regarding the performance of companies in the last four years, 52% said that their company became more competitive nationally and 25% of them said they had doubled sales in four years. Regarding international operations, 20,65% export their products. About 4% of national companies have employees hired abroad and only 1,09% has foreign share control.
Main sources of public financial resources
Among the main sources of public support, adopted in the last four years, the BNDES card was the most cited, with 16%. Regional IFDs (Development Financial Institutions) (indirect access with BNDES card) came in second, with 12%. Of the sample, 40% stated that they already had some public support, 27% accessed some BNDES product (7% Prosoft and 11% the Innovative MPME Line).
Main restrictions
When asked what relevant restrictions are faced to access credit at commercial banks, 61,33% stated the “High cost of bank interest” as the main constraint. The “requirement for real guarantees” was pointed out in second place with 46,67%, followed by the generic term “Bureaucracy” with 33,15%, which is usually attributed to the way banks refuse credit to companies.
Regarding the total interest rate per year, 47% said to pay between 0 to 20% per year and 53% from 20% to more than 50% per year. It reached 30% companies that said they had never used a commercial bank loan. Among the payment guarantees indicated by the companies are: Personal Guarantee (partners), 50%; Security of Receivables from Customers, 47.83%; Bank Guarantee, 26,63%, and Real Guarantee (usually mortgage), 23,37%.
Investment Funds
Regarding investment funds, 44.02% said they were interested, but that they never had the opportunity to talk to a fund; 21,74% do not know enough about the subject and only 3,8% have already received investment from a participation fund. Among the benefits that the company would receive from the investment of a fund, 78,26% indicated the “Financial contribution”; 64,13% cited the “Adoption of Strategic Planning aimed at significant growth”.
“In addition to the need to offer more adequate lines of credit in terms of fees and guarantees, these results demonstrate that there is still a long way to go for the dissemination of lines of financing. They also demonstrate that there is room to help companies internationalize their products and the interest of this sector in approaching investment funds ”, concludes Jamile. Access the ABES Survey - Access to Financing here.
Applied between September and October 2016, the survey heard companies from all regions of the country, with the support of Softsul and TecnoPuc (RS); Acate (SC); CITs and PTI (PR); Brasscom, Cietec, RPI and Softex Campinas (SP); Tec Vitória (ES) and Porto Digital (PE), who contributed to the distribution of the questionnaires.
184 companies responded to the questionnaire. “This sample brings a perception of the profile of technology companies in Brazil and can help banks create investment lines appropriate to the reality of these businesses”, explains Jamile Sabatini Marques, director of Innovation and Promotion at ABES.
“Among the main results of the study, we can highlight the profile of technology companies and the indications regarding difficulties in accessing credit. The majority, 58.7%, is active in software development, affirming the innovative characteristic of the sector. The responses in relation to commercial banks and public resources demonstrate a mismatch between the needs of companies and the offers of support lines to serve the sector ”, analyzes Jamile.
Company Profile
Of the total sample, 22.8% of the companies have between 5 and 9 years of experience in the market. The majority, 54%, have their headquarters located in the southern region of the country; 39% in the Southeast region, 27% being only in the State of São Paulo. Only 7% of the interviewees are from the North, Northeast and Midwest.
Regarding the performance of companies in the last four years, 52% said that their company became more competitive nationally and 25% of them said they had doubled sales in four years. Regarding international operations, 20,65% export their products. About 4% of national companies have employees hired abroad and only 1,09% has foreign share control.
Main sources of public financial resources
Among the main sources of public support, adopted in the last four years, the BNDES card was the most cited, with 16%. Regional IFDs (Development Financial Institutions) (indirect access with BNDES card) came in second, with 12%. Of the sample, 40% stated that they already had some public support, 27% accessed some BNDES product (7% Prosoft and 11% the Innovative MPME Line).
Main restrictions
When asked what relevant restrictions are faced to access credit at commercial banks, 61,33% stated the “High cost of bank interest” as the main constraint. The “requirement for real guarantees” was pointed out in second place with 46,67%, followed by the generic term “Bureaucracy” with 33,15%, which is usually attributed to the way banks refuse credit to companies.
Regarding the total interest rate per year, 47% said to pay between 0 to 20% per year and 53% from 20% to more than 50% per year. It reached 30% companies that said they had never used a commercial bank loan. Among the payment guarantees indicated by the companies are: Personal Guarantee (partners), 50%; Security of Receivables from Customers, 47.83%; Bank Guarantee, 26,63%, and Real Guarantee (usually mortgage), 23,37%.
Investment Funds
Regarding investment funds, 44.02% said they were interested, but that they never had the opportunity to talk to a fund; 21,74% do not know enough about the subject and only 3,8% have already received investment from a participation fund. Among the benefits that the company would receive from the investment of a fund, 78,26% indicated the “Financial contribution”; 64,13% cited the “Adoption of Strategic Planning aimed at significant growth”.
“In addition to the need to offer more adequate lines of credit in terms of fees and guarantees, these results demonstrate that there is still a long way to go for the dissemination of lines of financing. They also demonstrate that there is room to help companies internationalize their products and the interest of this sector in approaching investment funds ”, concludes Jamile. Access the ABES Survey - Access to Financing here.
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