The financial position of SMEs in 2009: a financial structure that has proven resilient to the crisis.

Abstract

In 2009, the crisis affected SME’s profitability more than their financial structure. Major differences remain between SMEs, with increasing numbers of failures in this category. The decline in investment, which was already weak before the crisis, is compromising their ability to recover in the medium term.SME, business activity, profitability, debt, investment, corporate failures.