{
  "id": 18692877,
  "title": "Mittelstand: Finanzierung: Wie Unternehmen sich neue Geldquellen erschließen",
  "url": "https://urgent.news/2026/11/07/mittelstand-finanzierung-wie-unternehmen-sich-neue-geldquellen",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-07T10:35:18.000Z",
  "source": {
    "name": "Handelsblatt",
    "slug": "handelsblatt",
    "url": "https://www.handelsblatt.com/unternehmen/mittelstand/mittelstand-wie-unternehmen-sich-neue-geldquellen-erschliessen/100265269.html"
  },
  "original_language": "de",
  "account": "Tiny Space, a Berlin-based company, provides its customers with dedicated space for uninterrupted discussions at trade fairs through mobile houses equipped with conference rooms. The growth of the company has required additional financing, as each new house must be pre-financed before generating rental income. The company's equity base was insufficient to secure larger bank loans. To address this, a quiet participation from the Mittelstandischen Beteiligungsgesellschaft Berlin was sought. The company's managing director, Hans-Gert Stuke, explained that this strengthens their equity without relinquishing shares or decision-making rights. The study by KfW Funding Bank revealed that only 27 percent of small and medium-sized enterprises consider bank loans for investment financing, down from 66 percent in 2017. Only a quarter of annual investment volume still comes from traditional bank credits. Michael Euchner, a partner at RSM Ebner Stolz, noted that the classic bank loan loses its dominance as the sole funding source for German small and medium-sized enterprises. The primary source of funds for investments is the company's reserves, which account for about 43 percent of the annual investment volume, including retained earnings and existing liquidity. According to KfW research, many German small and medium-sized enterprises prefer to rely on internal financing over external sources. A case in point is the motorsaw manufacturer Stihl, which funds all its investments with its own liquid assets without any external capital. To finance investments without external capital, companies can free up bound capital by reducing inventory, collecting receivables, or extending payment terms with suppliers. This internal financing is often the most convenient and fastest solution in a challenging environment, according to Euchner. Another quick way to raise funds is factoring, where companies sell off their open invoices to a financial service provider and receive a large portion of the money immediately, avoiding the wait for customers to pay their bills. The German factoring market reached 423.5 billion euros in 2025, a 6.2 percent increase, according to RSM Ebner Stolz. Reducing capital binding can also be achieved through leasing machinery, vehicles, or IT systems, known as regular payments for their use. A BDL survey found that 62 percent of German small and medium-sized enterprises regularly consider leasing for investments. Leasing has become a strategic investment tool for many companies, especially for rapidly obsolescent technologies. Depending on the contract, a portion of the risk can be transferred to the leasing provider while still leaving more money available for day-to-day operations. When one instrument is not enough, such as for a large project, companies can combine multiple financing methods. Pierre Schmidt, Head of Debt Advisory at Falkensteg Transformation Consulting, cited an internationally operating automotive supplier with over 500 million euros in annual sales. By combining factoring, leasing, sale-and-lease-back, and expanded bank financing, the company was able to fund both expansion and technological modernization, which would not have been possible with bank loans alone. However, with more lenders comes increased complexity, so it's crucial to consider the interests of each lender from the start, according to Schmidt. The decisive factor is which financing is best suited to the specific financing need, the company's situation, and current market conditions, as noted by KfW expert Schwartz. Companies should align the terms, costs, and risks of each financing method accordingly. The example of Tiny Space shows how a quiet participation can improve a company's creditworthiness, leading to better bank loans and leasing financing. This additional funding can then be used to expand Tiny Space's portfolio of mobile conference rooms. The company now aims to grow in European trade fair metropolises, with Stuke noting that this quiet participation is a valuable component in their financing architecture that enables further financing.",
  "summary": "Mittelständler finanzieren Investitionen immer seltener über Bankkredite. Welche alternativen Wege es gibt, welche Vorteile sie bieten und wie man den richtigen Finanzierungsmix findet.",
  "key_points": [
    "Tiny Space uses mobile houses for uninterrupted trade fair discussions.",
    "Company seeks quiet participation from Mittelstandischen Beteiligungsgesellschaft Berlin.",
    "Factoring and leasing become primary financing methods for German SMEs."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}