Financing options for micro/small and medium-sized enterprises in Portugal

  • Inês Isabel Ventura Pepe (Student)

Student thesis: Master's Thesis


When the business structure of a country is dependent on micro, small and mediumsized enterprises it seems essential to understand and try to mitigate, one of their main challenges. Although having access to finance is an important element for enterprises’ development, small and medium enterprises still have credit restrictions. Mainly because of its size, risk and lack of financial history. SMEs create jobs and play a crucial role in the economy of every country; therefore this dissertation is based on a research process that shows in one document the several financial options available. Portugal is still a conservative country regarding the way companies finance themselves. However, a new tendency of alternative ways of funding is emerging and becoming more relevant. Five solutions were studied: Crowdfunding, Business Angels, Venture Capital, Bank and Governmental Solutions. Parallel to this thesis, a consulting project was developed with the company Perfect Fit Services, a microenterprise that is searching for financial aid for its expansion, fact that led to the development of this thesis. The results of this research show that it is even more challenging for a SME that does not have a technological base and is a small scale business to get alternative funding. And the solutions offered always depend on the business idea and the stage of the enterprise’s life cycle.
Date of Award2015
Original languageEnglish
Awarding Institution
  • Universidade Católica Portuguesa
SupervisorRute Xavier (Supervisor)


  • Micro, Small and medium-sized enterprises
  • Financial options
  • Crowdfunding
  • Business angels
  • Capital venture
  • Bank solutions
  • Governmental solutions


  • Mestrado em Gestão: Programa Internacional

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