Acquiring capital is always at least an issue if not outright problem for entrepreneurs. If you've been going to the bank and finding things considerably cooler than this summer's weather, don't be surprised. According to a report from the Organization for Economic Co-operation and Development (OECD), you've got plenty of company on the boat.
According to the OECD, business start-up rates around the world are still limping since the start of the global economic crisis. Look at the patterns in Australia, a number of EU countries, the Russian Federation, and the U.S.
Some countries--Australia, Norway, and the U.K.--have seen some significant trending above others. But even there, the numbers can be deceiving. As the OECD said in a press release about the subject, "Australia and the United Kingdom are showing tentative signs of a pick-up in start-ups but this is driven by an increase in sole-proprietor self-employed businesses, which may reflect readjustment strategies to unemployment."
The OECD's take is that start-up money is hard to come by (entrepreneurs find themselves dogged by "restrictive lending conditions"). For example, the 2012 level of venture capital investments in most companies was about 60 percent of 2007 levels.
Banks have been up and down when it comes to lending to small and mid-sized business lending, but things may be moving in a better direction. According to CreditDaily, loan approvals have been up at big banks so far this year. Big banks did drop acceptances down in June. Credit unions got even tighter, having approved 44.8 percent of loans in June, down from 55.8 percent last year. But, still, the overall pace for the first half of 2013 is far better than in 2012.
With a little bit of luck, the OECD data will prove to be only backward looking and not indicative of where things are going. However, to be safe, here are a few steps to consider, in case you're looking for money:
The main point is that entrepreneurs must find ways to make things happen even when the approved paths seem closed.