Financial Inclusion, Regulation, and Education in Germany

8/20/2019 Financial Inclusion, Regulation, and Education in Germany

1/28

MJBK T`reknd _mpcr Wcrkcs

Aknmngkmi Kngiusk`n, Rcduimtk`n, mnj Cjugmtk`n kn Dcrlmny

J`rks Ncubcrdcr

N`. 37?Func 2?=3

Mskmn Jcvci`plcnt Bmne Knstktutc


2/28

Zhc T`reknd _mpcr scrkcs ks m g`ntknumtk`n à thc a`rlcriy nmlcj Jksgussk`n _mpcr scrkcs5thc nulbcrknd à thc pmpcrs g`ntknucj wkthùt kntcrruptk`n `r ghmndc. MJBK‛s w`rekndpmpcrs rcaicgt knktkmi kjcms `n m t`pkg mnj mrc p`stcj `niknc a`r jksgussk`n. MJBK cngùrmdcsrcmjcrs t` p`st thckr g`llcnts `n thc lmkn pmdc a`r cmgh w`reknd pmpcr (dkvcn kn thcgktmtk`n bci`w). W`lc w`reknd pmpcrs lmy jcvci`p knt` `thcr a`rls à pubikgmtk`n.

Wuddcstcj gktmtk`n6

Ncubcrdcr, J. 2?=3. Aknmngkmi Kngiusk`n, Rcduimtk`n, mnj Cjugmtk`n kn Dcrlmny. MJBK

T`reknd _mpcr 37?. Zèy`6 Mskmn Jcvci`plcnt Bmne Knstktutc. Mvmkimbic6

http6//www.mjb.`rd/pubikgmtk`ns/aknmngkmi-kngiusk`n-rcduimtk`n-mnj-cjugmtk`n-dcrlmny/

_icmsc g`ntmgt thc muth`r a`r kna`rlmtk`n mbùt thks pmpcr.

Clmki6 j`rks.ncubcrdcrOunk-r`st`ge.jc

J`rks Ncubcrdcr ks _ràcss`r mt thc Jcpmrtlcnt à Cg`n`lkgs, Snkvcrskty à R`st`ge,Dcrlmny5 Rcscmrgh Jkrcgt`r mt thc Knstktutc a`r Aknmngkmi Wcrvkgcs, Hmlburd5 Rcscmrgh_ràcss`r mt thc Dcrlmn Knstktutc a`r Cg`n`lkg Rcscmrgh, Bcrikn5 mnj m lclbcr à thclmnmdknd b`mrj mt thc Gcntcr a`r Rcimtk`nshkp Bmneknd mnj Cg`n`lkgs GCRBC, R`lc.

Zhc muth`r wùij ikec t` thmne Nm`yuek [`shkn`, Dmncshmn Tkdnmrmfm, _ctcr L`rdmn,Sj` Rckancr, mnj Wtcamnkc Iêllcrlmnn a`r hcipaui jksgussk`ns, mnj Iksm Jùndci a`rvmiumbic rcscmrgh msskstmngc.

Zhc vkcws cxprcsscj kn thks pmpcr mrc thc vkcws à thc muth`r mnj j` n`t ncgcssmrkiyrcaicgt thc vkcws `r pìkgkcs à MJBK, MJB, kts B`mrj à Jkrcgt`rs, `r thc d`vcrnlcntsthcy rcprcscnt. MJBK j`cs n`t dumrmntcc thc mggurmgy à thc jmtm kngiujcj kn thks pmpcrmnj mggcpts n` rcsp`nskbkikty a`r mny g`nscqucngcs à thckr usc. Zcrlknì`dy uscj lmyn`t ncgcssmrkiy bc g`nskstcnt wkth MJB àakgkmi tcrls.

T`reknd pmpcrs mrc subfcgt t` a`rlmi rcvksk`n mnj g`rrcgtk`n bca`rc thcy mrc aknmikzcjmnj g`nskjcrcj pubikshcj.

Mskmn Jcvci`plcnt Bmne KnstktutcEmsulkdmscek Bukijknd 8A

7-2-3 Emsulkdmscek, Ghky`jm-euZèy` =??-1??8, Fmpmn

Zci6 +8=-7-73;7-33??Amx6 +8=-7-73;7-334=SRI6 www.mjbk.`rdC-lmki6 knaÒmjbk.`rd

© 2?=3 Mskmn Jcvci`plcnt Bmne Knstktutc

mailto:[email protected]:[email protected]


3/28

MJBK T`reknd _mpcr 37? Ncubcrdcr

Mbstrmgt

Dcrlmny‛s bmne-bmscj aknmngkmi systcl pr`vkjcs m hkdh icvci à aknmngkmi kngiusk`n,lcmsurcj by bmne ùtrcmgh mnj usc à aknmngkmi scrvkgcs. H`wcvcr, thc l`st vuincrmbicknjkvkjumis mnj slmii cntcrprkscs kn Dcrlmny tcnj t` bc cxgiujcj `r grcjkt g`nstrmkncj. Zhcqumikty à aknmngkmi kngiusk`n ks klpmkrcj by m i`w icvci à aknmngkmi iktcrmgy, whkgh ks mis`g`ngcntrmtcj ml`nd spcgkakg p`puimtk`n subdrùps. Zhc hkdh icvci à aknmngkmi kngiusk`n gmnbc mttrkbutcj t` rcimtk`nshkp icnjknd by pubikg smvknds bmnes, grcjkt g``pcrmtkvcs, pubikgpr`l`tk`nmi bmnes, mnj dumrmntcc bmnes usknd thc ’hùscbmne“ l`jci, mnj aknmngkmig`nsulcr pr`tcgtk`n mnj grcjkt rcp`rtknd rcduimtk`ns mnj knstktutk`ns. _r`drmls knvìvkndlkgràknmngc knstktutk`ns hmvc bccn st`ppcj. Aknmngkmi kngiusk`n à g`nsulcrs wkth thc mklà rcsp`nskbic aknmngc lmy bc klpr`vcj by klpiclcntknd thc rkdht t` m bmskg bmne mggùntwkth mn `vcrjrmat amgkikty mnj pr`tcgtk`n mdmknst mttmghlcnt, cstmbikshknd pubikg grcjktburcmus, rcjkrcgtknd bmneknd rcduimtk`n t`wmrj thc pr`tcgtk`n à b`rr`wcrs kn i`nd-tcrl grcjktrcimtk`nshkps, mnj strcndthcnknd aknmngkmi cjugmtk`n kn sgh`ìs. Z` a`stcr cntrcprcncurshkp

mnj mggcss t` aunjknd a`r stmrt-ups mnj knn`vmtkvc WLCs, cntrcprcncurshkp cjugmtk`n mnjthc vcnturc gmpktmi lmrect nccj t` bc aurthcr jcvci`pcj.

FCI Gimsskakgmtk`n6 D2=, D28, K22, @=1


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G`ntcnts

=. Kntr`jugtk̀ n ................................................................................................................ 7

2.

@vcrvkcw à thc Dcrlmn aknmngkmi systcl .................................................................. 7

7. Aknmngkmi Kngiusk`n ..................................................................................................... 1

:. Aknmngkmi Rcduimtk`n mnj Wupcrvksk`n ........................................................................ 8

:.=

Rcduimt`ry mnj Wupcrvks`ry Muth`rktkcs ......................................................... 8

:.2 _ubikg Wmvknds Bmnes .................................................................................... ; :.7 _r`l`tk`nmi Bmnes ....................................................................................... =? :.: Dumrmntcc Bmnes ......................................................................................... == :.3 Lkgràknmngc Knstktutk`ns ............................................................................... == :.1

Aknmngkmi G`nsulcr _r`tcgtk`n .................................................................... =7

:.4

Rkdht t` m Bmskg Bmne Mggùnt ..................................................................... =: :.8 Grcjkt Rcp`rtknd Wystcl .............................................................................. =:

3. Aknmngkmi cjugmtk`n .................................................................................................. =3

3.= Ncgcsskty, G`ngcpt, mnj D`mis à Aknmngkmi Cjugmtk`n ................................ =3 3.2 Wtmtus à Aknmngkmi Cjugmtk`n ....................................................................... =3 3.7 Aknmngkmi Cjugmtk`n kn Wgh`ìs .................................................................... =4 3.: _r`vkjcrs à Aknmngkmi Cjugmtk`n .................................................................. =4

1.

G`ngiusk`ns mnj _ìkgy Rcg`llcnjmtk`ns ............................................................. =8

Rcacrcngcs ......................................................................................................................... 2?


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=. KNZR@JSGZK@N

Aknmngkmi kngiusk`n ks klp`rtmnt a`r cg`n`lkg wciamrc mnj sustmknmbic cg`n`lkgjcvci`plcnt. Br`mjcnknd mggcss à hùschìjs mnj akrls t` aknmngkmi scrvkgcs cmscsthc aknmngknd à pràktmbic knvcstlcnt pr`fcgts, miicvkmtknd p`vcrty mnj spurrkndcg`n`lkg dr`wth. Mggcss t` aknmngc lmy cvcn bc g`nskjcrcj m bmskg nccj (_cmghymnj R`c 2??1) mnj aknmngkmi kngiusk`n ’gmn bc br`mjiy jcakncj ms mn cg`n`lkg stmtcwhcrc knjkvkjumis mnj akrls mrc n`t jcnkcj mggcss t` bmskg aknmngkmi scrvkgcs bmscj `nl`tkvmtk`ns `thcr thmn caakgkcngy grktcrkm“ (MlkjžkĄ, Lmssmrm, mnj Lkmiù 2?=:6 3).Aknmngkmi cxgiusk`n, kn g`ntrmst, rcacrs t` jkaakguitkcs kn mggcssknd `r usknd aknmngkmiscrvkgcs thmt mrc mppr`prkmtc t` thc nccjs à knjkvkjumis mnj thmt ’cnmbic thcl t` icmj mn`rlmi s`gkmi ikac kn thc s`gkcty kn whkgh thcy bci`nd“ (Cur`pcmn G`llkssk`n 2??8).Cxgiusk`n lmy bc vìuntmry ka pc`pic j` n`t usc aknmngkmi scrvkgcs bcgmusc thcy j` n`tnccj thcl‚`r thkne thcy j` n`t nccj thcl‚`r bcgmusc à guiturmi `r rcikdkùsrcms`ns. Ka thcy gh``sc n`t t` usc aknmngkmi scrvkgcs bcgmusc à m imge à aknmngkmi

iktcrmgy, aknmngkmi cxgiusk`n ks m g`nscqucngc à m amkiurc kn thc cjugmtk`n systcl.Knvìuntmry cxgiusk̀ n lmy rcsuit ar`l caakgkcngy grktcrkm (c.d., knsuaakgkcnt kng`lc `r hkdhgrcjkt rkse) `r ar`l lmrect `r d`vcrnlcnt amkiurcs sugh ms jksgrklknmtk`n, imge àkna`rlmtk`n, bmj pr`jugts, hkdh prkgcs, `r wcme g`ntrmgt cna`rgclcnt (T`rij Bmne2?=:5 MlkjžkĄ, Lmssmrm, mnj Lkmiù 2?=:).

Ar`l m pìkgy pcrspcgtkvc, mppr`prkmtc aknmngkmi kngiusk`n j`cs n`t rcqukrc thmt miiknjkvkjumis `r akrls hmvc mggcss t` mii pr`jugts, but thmt thcy mrc mbic t` mggcsspr`jugts thmt jcikvcr rcmi bcncakts. Zhc cxpcrkcngc wkth thc di`bmi aknmngkmi grksks, thclkgràknmngc grksks, mnj shmrp kngrcmscs kn thc nulbcr à `vcr-knjcbtcj knjkvkjumis knlmny gùntrkcs hms shkatcj thc pìkgy a`gus à Dcrlmn mnj kntcrnmtk`nmi jcvci`plcntg``pcrmtk`n mwmy ar`l kngrcmsknd mggcss t` aknmngc mt mny g`st t` rcsp`nskbic aknmngc(Dr`ss 2?=:). Rcsp`nskbic aknmngc lcmns ’g``rjknmtcj pubikg mnj prkvmtc scgt`rkntcrvcntk`ns thmt cngùrmdc mnj msskst aknmngkmi scrvkgcs pr`vkjcrs mnj thckr gikcnts knklpr`vknd thckr unjcrstmnjknd mnj mppr`mghcs, prmgtkgcs, mnj bchmvk`rs t` grcmtcl`rc trmnspmrcnt, kngiuskvc, mnj cquktmbic aknmngkmi lmrects bmimngcj kn amv`r à miikng`lc drùps“ (BLV/GDM_/KAG 2?==6 =). Kt cng`lpmsscs amkr scrvkgc jcikvcry t`cntcrprkscs mnj g`nsulcrs. Zhc lmf`r lcmsurcs a`r mghkcvknd rcsp`nskbic aknmngc a`rg`nsulcrs mrc rcduimtk`n mnj supcrvksk`n à aknmngkmi g`nsulcr pr`tcgtk`n, scia-rcduimtk`n à thc knjustry, mnj aknmngkmi cjugmtk`n (BLV/DKV/KAG 2?=7). Aìi`wknd thcdukjciknc à m ’hulmn s`gkmi lmrect cg`n`ly,“ thc Dcrlmn d`vcrnlcnt mkls t`pr`vkjc cqumi `pp`rtunktkcs t` mii gktkzcns a`r m d``j ikac thrùdh arccj`l, ruic à imw,pìktkgmi stmbkikty, cg`n`lkg strcndth, mnj fustkgc. M pìkgy thmt l`vcs hulmns knt`gcntrc stmdc lust lmec cvcry caa`rt t` cnsurc thmt n` aknmngkmi mgt`r, pr`jugt, `r pimgc

rclmkn wkthùt mjcqumtc rcduimtk`n (Lcreci 2?=:).Zhc prcscnt pmpcr pr`gccjs ms aìi`ws. Wcgtk`n 2 pr`vkjcs mn `vcrvkcw à thc Dcrlmnaknmngkmi systcl, Wcgtk`n 7 rcvkcws thc stmtus à aknmngkmi kngiusk`n, Wcgtk`n : jcmiswkth aknmngkmi rcduimtk`n mnj supcrvksk`n, mnj Wcgtk`n 3 cxmlkncs aknmngkmi cjugmtk`n.Wcgtk`n 1 g`ngiujcs wkth pìkgy rcg`llcnjmtk`ns.

2. @QCRQKCT @A ZHC DCRLMN AKNMNGKMI W[WZCL

Zhc Dcrlmn aknmngkmi systcl ks bmne bmscj. Bmne grcjkt t` thc prkvmtc scgt`r wms=?7.8% à DJ_ (vcrsus 32.12% kn thc Snktcj Wtmtcs) kn 2?== mnj st`ge lmrectgmpktmikzmtk`n wms :7.78% à DJ_ (vcrsus ==:.;2% kn thc Snktcj Wtmtcs) kn 2?=2

(Di`bmi Cg`n`ly 2?=:). Zhc Dcrlmn aknmngkmi systcl ks bmscj `n mn `rkdknmi thrcc-

7


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pkiimr strugturc à unkvcrsmi bmnes, g`lp`scj à prkvmtc g`llcrgkmi bmnes, pubikgsmvknds bmnes, mnj g``pcrmtkvc bmnes. Zhc shmrc à pubikg bmnes ks lugh hkdhcr thmnkn `thcr Cur`pcmn Snk`n gùntrkcs. Kn Jcgclbcr 2?=7, prkvmtc g`llcrgkmi bmnesmggùntcj a`r 71.:%, pubikg smvknds bmnes a`r 2;%, mnj g``pcrmtkvc bmnes a`r =7.1%à t`tmi msscts (scc Akdurc =). Zhc g`llcrgkmi bmne pkiimr g`lprkscs bkd bmnes,rcdk`nmi mnj `thcr g`llcrgkmi bmnes, mnj brmnghcs à a`rckdn bmnes. Kt ks j`lknmtcjby aùr bkd st`ge g`rp`rmtk`n bmnes, whkgh, h`wcvcr, mggùnt a`r `niy 21.7% à thc t`tmimsscts à thc whìc bmneknd lmrect.=

Akdurc =6 Lmrect Whmrcs à Bmneknd Drùps, Jcgclbcr 2?=7(% à t`tmi msscts)

?.? ?.2 ?.: ?.1 ?.8 =.? =.2 =.: =.1 =.8 2.?

Bkd bmnes

Rcdk`nmi mnj `thcr g`llcrgkmi bmnes

Brmnghcs à a`rckdn bmnes

Imnjcsbmnecn

Wmvknds bmnes

Rcdk`nmi knstktutk`ns à grcjkt g``pcrmtkvcs

Grcjkt g``pcrmtkvcs

L`rtdmdc bmnes

Bukijknd mnj i`mn mss`gkmtk`ns

Bmnes wkth spcgkmi aungtk`ns

_ k i i m

r K 6 G ` l l c r g k m i

b m n e s

_ k i i m r K K 6

W m v k n d s

b m n e s

_ k i i m r K K K 6

G ` ` p c r m t k v c

b m n e s

S n k v c r s m i b m n e s

W p c g k m i k z c j g r c j k t

k n s t k t u t k ` n s

Z`tmi msscts kn ₩ lkiik`n (Jcgclbcr 2?=7)

22.12%

=?.4:%

7.?7%

=:.74%

=:.1=%

3.83%

=?.?2%

7.3;%

=2.:8%

2.4?%

Wùrgc6 Jcutsghc Bunjcsbmne (2?=:m)5 muth`r‛s gmiguimtk`ns.

Zhc smvknds bmne pkiimr g`lprkscs :=4 lunkgkpmi smvknds bmnes `wncj by gktkcs mnji`gmi muth`rktkcs, mnj ; Imnjcsbmnecn `wncj by acjcrmi stmtcs mnj smvknds bmnes.Cvcn thùdh thc stmtc dumrmntccs à thc Dcrlmn smvknds bmnes wcrc mbìkshcj kn2??3, thcsc bmnes mrc stkii kn pubikg hmnjs. Zhc lunkgkpmi smvknds bmnes mrc subfcgt t`thc rcdk`nmi prkngkpic thmt rcstrkgts thcl t` thckr i`gmi g`llunktkcs. Zhcy a`gus `n rctmkigust`lcrs mnj hmvc thc pubikg lkssk`n t` pr`vkjc smac mnj kntcrcst-bcmrknd knvcstlcnt`pp`rtunktkcs mnj mggcss t` i`mns t` thc i`gmi p`puimtk`n mnj slmii mnj lcjkul-skzcjcntcrprkscs (WLCs). Imnjcsbmnecn mrc imrdc whìcsmic bmnes a`r thc smvknds bmnes.Thkic thckr trmjktk`nmi rìc wms t` aknmngc rcdk`nmi jcvci`plcnt mnj thc kntcrnmtk`nmibuskncss à WLCs, t`jmy thcy mrc unkvcrsmi, pràkt-`rkcntcj bmnes mgtkvc kn kntcrnmtk`nmi

lmrects. Zhc smvknds bmne pkiimr g``pcrmtcs ms m drùp mnj pr`vkjcs smacty t`jcp`skt`rs by kts f`knt ikmbkikty sghclc.

Zhc g``pcrmtkvc bmne pkiimr g`lprkscs =,?8= grcjkt g``pcrmtkvcs mnj tw` gcntrmiknstktutk`ns. Grcjkt g``pcrmtkvcs mrc `rkcntcj t`wmrj i`gmi rctmki gust`lcrs, aìi`wknd thcn`n-pràkt lkssk`n t` scrvc thc kntcrcsts à thckr lclbcrs (usumiiy amrlcrs `r slmiibuskncsscs). Ikec thc smvknds bmnes, thcy g``pcrmtc ms m drùp mnj pr`vkjc smactythrùdh m lutumi dumrmntcc systcl.

Zhc rclmknknd spcgkmikzcj grcjkt knstktutk`ns mggùnt a`r 2=% à t`tmi msscts mnjg`lprksc =4 (prkvmtc) l`rtdmdc bmnes, 22 (pubikg mnj prkvmtc) bukijknd mnj i`mn

=

Thkic Jcutsghc Bmne, Snkgrcjkt Bmne, mnj G`llcrzbmne mrc hkdhiy kntcrnmtk`nmikzcj mnj a`gus `n imrdcg`rp`rmtc gust`lcrs mnj wcmithy knjkvkjumis, _`stbmne ks `rkcntcj t`wmrj rctmki gust`lcrs.

:


7/28


mss`gkmtk`ns mnj 2= bmnes wkth spcgkmi aungtk`ns (pubikg mnj prkvmtc pr`l`tk`nmibmnes). L`rc`vcr, thcrc mrc =8 pubikg dumrmntcc bmnes n`t kngiujcj kn thc bmnekndstmtkstkgs (Jcutsghc Bunjcsbmne 2?=7) mnj 73 lkgràknmngc knstktutk`ns (LAKs) wkthùtbmneknd ikgcnscs (Bcnjkd Sntcrbcrd, mnj Wmrp`nd 2?=:).

Zmbic = sh`ws thmt rctmki bmneknd lmrects mrc j`lknmtcj by pubikg smvknds bmnes.Zhcy pr`vkjc 73% à mii brmnghcs, :=% à g`nsulcr jcp`skts, 7=% à g`nsulcr i`mns,:7% à gurrcnt mggùnts, :3% à gust`lcr bmne gmrjs, :2% à i`mns t` j`lcstkgcntcrprkscs mnj :2% à i`mns t` scia-clpi`ycj. Akdurc 2 sullmrkzcs thc vmrkùs wmysby whkgh smvknds mrc ghmnncicj t` gmpktmi uscrs by bmne i`mns `r lkgr` i`mns.

Zmbic =6 Lmrect Whmrcs à Bmneknd Drùps, Jcgclbcr 2?=7(% à t`tmi nulbcr à brmnghcs mnj rctmki bmneknd vìulcs)

_kiimr K6G`llcrgkmi

Bmnes

_kiimr KK6Wmvknds Bmnes

_kiimr KKK6G``pcrmtkvc Bmnes

WpcgkmikzcjGrcjkt

Knstktutk`ns

Brmnghcs 24 73 77 3

Jcp`skts ar`l knjkvkjumis 77 := 24 ?.:I`mns t` knjkvkjumis 7? 7= 27 =3Gurrcnt mggùnts 2; :7 28 ?

`niknc thcrcà 78 7: 28 ?Gust`lcr bmne gmrjs 28 :3 24 ?.2I`mns t` j`lcstkgcntcrprkscs

24 :2 =2 =8

I`mns t` scia-clpi`ycj =; :2 7= 8

N`tc6 Knjkvkjumis mrc cg`n`lkgmiiy jcpcnjcnt knjkvkjumis mnj ̀ thcr prkvmtc pcrs`ns.

Wùrgcs6 Jcutsghc Bunjcsbmne (2?=:m, 2?=:b)5 Jcutsghcr Wpmremsscn- unj Dkr`vcrbmnj (2?=7b)5 muth`r‛sgmiguimtk`ns.

Akdurc 26 Aknmngkmi Kntcrlcjkmtk`n thrùdh thc Dcrlmn Bmneknd Wystcl

WLC < slmii mnj lcjkul-skzcj cntcrprksc.

Wùrgcs6 Jcutsghc Bunjcsbmne (2?=:m)5 Jcutsghcr Wpmremsscn- unj Dkr`vcrbmnj (2?=7b)5 muth`r‛s `wn

g`lp`sktk`n mnj gmiguimtk`ns.

Snkvcrsmi Bmnes

Knjkvkjumis

G`rp`rmtc

gust`lcrs

(gkty rcdk`ns, nmtk`nmi

mnj kntcrnmtk`nmi

lmrects)

Rctmki gust`lcrs

(gkty mnj rurmi

rcdk`ns, rcdk`nmi mnj

nmtk`nmi lmrects)

WLCs (;;.1% ̀ aj`lcstkg

cntcrprkscs)

G`nsulcrs

Snbmnecj knjkvkjumis

7= %

27 %

=2 %

:2 %

24 %

24 %

:= %

77 %

7? %

G`llcrgkmi bmnes

• Bkd : bmnes

• Rcdk`nmi mnj ̀ thcr g`llcrgkmi bmnes

• Brmnghcs ̀ a a`rckdn bmnes

Wmvknds bmnes (stmtc-`wncj)

• Imnjcsbmnecn

• (Lunkgkpmi) smvknds bmnes

G``pcrmtkvc bmnes

• Rcdk`nmi knstktutk`ns ̀ a grcjkt

g``pcrmtkvcs

• Grcjkt g``pcrmtkvcs

Wpcgkmikzcj Grcjkt Knstktutk`ns

L`rtdmdc bmnes

Bukijknd mnj i`mn mss`gkmtk`ns

Bmnes wkth spcgkmi aungtk`ns

• _r`l`tk`nmi bmnes (EaT, IAKs)

• Dumrmntcc bmnes

Lkgràknmngc knstktutk`ns (LAKs)

wkthùt bmneknd ikgcnsc

=3 %

=8 %

I`mns Jcp`skts

3


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7. AKNMNGKMI KNGISWK@N

Aknmngkmi kngiusk`n hms bccn lcmsurcj by thrcc jklcnsk`ns‚ùtrcmgh, usmdc, mnjqumikty à aknmngkmi scrvkgcs (MlkjžkĄ, Lmssmrm, mnj Lkmiù 2?=:6 8). Ssumi knjkgmt`rs à

ùtrcmgh mrc dc`drmphkg `r jcl`drmphkg pcnctrmtk`n (Bcge, Jclkrdug-Eunt, mnjLmrtkncz _crkm 2??4), sugh ms thc nulbcr à brmnghcs pcr =,??? squmrc eki`lctcrs `r=,??? mjuits. Ssumi knjkgmt`rs à usmdc mrc thc pcrgcntmdc à mjuits wkth mt icmst `nctypc à rcduimtcj jcp`skt mggùnt, i`mn mggùnt, `r knsurmngc pìkgy, mnj thcpcrgcntmdc à cntcrprkscs wkth bmne i`mns. ]umikty knjkgmt`rs lmy g`lprksc aknmngkmiiktcrmgy, jksgi`surc rcqukrclcnts, jksputc rcsìutk`n, mnj thc g`sts à usmdc (MlkjžkĄ,Lmssmrm, mnj Lkmiù 2?=:6 =?).

Zmbic 2 sh`ws jcl`drmphkg brmngh pcnctrmtk`n mnj usmdc à jcp`skts, i`mns, gurrcntmggùnts, mnj gust`lcr bmne gmrjs by mjuits ms wcii ms usmdc à i`mns by j`lcstkgcntcrprkscs mnj scia-clpi`ycj. WLCs rcprcscnt ;;.1% à mii j`lcstkg cntcrprkscs(Knstktut aùr Lkttcistmnjsà rsghund 2?=:).

Zmbic 26 Jcl`drmphkg Brmngh _cnctrmtk`n mnj Ssmdc à Bmneknd Wcrvkgcs mt thcZhrcc Bmneknd pkiimrs, Jcgclbcr 2?=7

_kiimr K6G`llcrgkmi Bmnes

_kiimr KK6Wmvknds Bmnes

_kiimr KKK6G``pcrmtkvc

BmnesZ`tmi

Nulbcr à brmnghcs pcr=,??? mjuits

?.=3 ?.2? ?.=; ?.3:

Jcp`skts ar`l knjkvkjumis pcr=,??? mjuits (₩)*

8,=3;,;27 =?,2=8,47: 1,128,718 23,??4,?23

I`mns t` knjkvkjumis pcr=,??? mjuits (₩)*

:,4:=,84? :,;:?,;32 7,3;:,37= =7,244,737

Gurrcnt mggùnts pcr

=??? mjuits

:2?.7= 127.=: :??.1: =,:::.?8

`niknc thcrcà 7?7.78 24:.2= 22?.8= 4;8.:?Gust`lcr bmne gmrjs pcr=,??? mjuits*

:2?.8= 143.22 7;;.=: =,:;3.=4

I`mns t` j`lcstkg cntcrprkscspcr nulbcr à j`lcstkgcntcrprkscs (₩)

13,4:2 =?=,43: 2;,=3: =;1,1:;

I`mns t` scia-clpi`ycj pcrnulbcr à scia-clpi`ycj (₩)

=1,;21 74,?:4 24,==1 8=,?88

* Wtmtkstkgs a`r nulbcr à mjuits mrc ar`l 2?=2

N`tc6 Knjkvkjumis mrc cg`n`lkgmiiy jcpcnjcnt knjkvkjumis mnj ̀ thcr prkvmtc pcrs`ns.

Wùrgc6 Jcutsghc Bunjcsbmne (2?=:m, 2?=:b)5 Jcutsghcr Wpmremsscn- unj Dkr`vcrbmnj (2?=7m)5 Wtmtkstm(2?=2)5 Knstktut aùr Lkttcistmnjsa`rsghund (2?=:)5 muth`r‛s gmiguimtk`ns.

Brmngh pcnctrmtk`n, usmdc à g`nsulcr i`mns, mnj jcp`skts mrc mb`vc thc CS mnjcur`z`nc mvcrmdcs.2 Kn 2?== thc pcrgcntmdc à gurrcnt bmne mggùnts, ikac mnj n`n-ikacknsurmngc, shmrcs, b`njs, mnj knvcstlcnt aunjs uscj wms hkdhcr thmn thc CS mvcrmdc,whkic thc usc à grcjkt gmrjs, l`rtdmdcs, mnj pcrs`nmi i`mns wms bci`w thc CSmvcrmdc (Cur`pcmn G`llkssk`n 2?=26 =7). Kn 2?=2, mjuits hmj `n mvcrmdc =.7 ikacknsurmngc pìkgkcs, mb`vc thc CS mvcrmdc, mnj 3.: n`n-ikac knsurmngc pìkgkcs

2 Nulbcr à brmnghcs pcr knhmbktmnts6 ?.:3 kn Dcrlmny vcrsus ?.7; kn thc CS mnj ?.:; kn thc cur`z`nc(Jcutsghc Bunjcsbmne 2?=:m5 Cur`pcmn Gcntrmi Bmne 2?=:5 T`rij Bmne 2?=35 muth`r‛s gmiguimtk`ns).Jcp`skts pcr knhmbktmnt6 ₩2=,?=2 kn Dcrlmny vcrsus ₩=8,:7: kn thc cur`z`nc (Cur`pcmn BmnekndAcjcrmtk`n 2?=75 Wtmtkstm 2?=:5 Jcutsghcr Wpmremsscn- unj Dkr`vcrbmnj 2?=7b5 T`rij Bmne 2?=35

muth`r‛s `wn gmiguimtk`ns). G`nsulcr i`mns pcr knhmbktmnt kn 2?=76 ₩2,411 kn Dcrlmny vcrsus ₩2,?;8 knthc CS (Grëjkt Mdrkgìc 2?=:5 muth`r‛s `wn gmiguimtk`ns).

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(Dcsmltvcrbmnj jcr Jcutsghcn Qcrskghcrundswkrtsghmat 2?=7m, 2?=7b5 Wtmtkstm 2?=:5`wn gmiguimtk`ns).7

Zhc pcrgcntmdc à bmne n`npcra`rlknd i`mns t` t`tmi dr`ss i`mns wms 2.4% kn 2?=7,whkgh knjkgmtcs m hkdh qumikty à icnjknd by Dcrlmn bmnes (T`rij Bmne 2?=3). Zhc

hkdh ùtrcmgh à thc Dcrlmn bmneknd scgt`r gmn bc mttrkbutcj t` i`gmi smvknds mnjg``pcrmtkvc bmnes, whkgh pr`vkjc m hkdhcr brmngh pcnctrmtk`n thmn g`llcrgkmi bmnes.@ut à thc thrcc bmneknd pkiimrs, smvknds bmnes pr`vkjc thc l`st cvcn rcdk`nmijkstrkbutk`n à brmnghcs (G`nrmj, Ncubcrdcr, mnj Wghnckjcr-RckÐkd 2??;5 Brcsicr ct mi.2??4). Tkth thckr g`lpmrmtkvciy imrdc brmngh pcnctrmtk`n kn icss wcmithy rcdk`ns, thcyhcip t` rcjugc rcdk`nmi cg`n`lkg jkspmrktkcs. B`th smvknds mnj g``pcrmtkvc bmnes cmscmggcss t` rctmki bmneknd scrvkgcs by lmkntmknknd m imrdcr nulbcr à brmnghcs pcrknhmbktmnt kn icss jcnsciy p`puimtcj rcdk`ns (G`nrmj, Ncubcrdcr, mnj Wghnckjcr-RckÐkd 2??;). Zhc nmtk`nwkjc prcscngc à thc pubikg smvknds bmnes kngrcmscs thcqumikty à aknmngkmi kngiusk`n by cnsurknd bmneknd drùp g`lpctktk`n cmgh rcdk`n.

Zhc klp`rtmngc à bmne brmngh pcnctrmtk`n hms jcgikncj juc t` thc kngrcmsknd usc à

`niknc bmneknd. Kn 2?=7, :2% à bmne mggùnt trmnsmgtk`ns wcrc pcra`rlcj `niknc.:

H`wcvcr, :8% à thc Dcrlmn (vcrsus :2% à thc CS24) p`puimtk`n jkj n`t gmrry ùtaknmngkmi trmnsmgtk`ns `vcr thc kntcrnct juc t` scgurkty g`ngcrns (CG 2??;6 =8). Kn 2?=7,l`bkic bmneknd wms uscj by `niy 73% à thc p`puimtk`n kn Dcrlmny, g`lpmrcj t` 1?%kn thc _c`pic‛s Rcpubikg à Ghknm, 33% kn Knjkm, mnj :8% kn Zhmkimnj (Bmkn & G`lpmny2?=76 22). Dcrlmny, thc imrdcst slmrtph`nc lmrect kn Cur`pc, sh`ws thc i`wcst uscà l`bkic bmneknd (G`lsg`rc 2?==). Kn 2?=7, 27% à Dcrlmn slmrtph`nc gust`lcrsuscj thckr slmrtph`ncs t` mggcss bmne mggùnts, =1% a`r cicgtr`nkg pmylcnts, mnj;% a`r grcjkt gmrjs (Wtmtkstm 2?=7). Zhc g`lpmrmtkvciy i`w l`bkic bmneknd mj`ptk`nrmtcs kn jcvci`pcj gùntrkcs sccl t` bc juc t` thc hkdh rkses à `niknc trmnsmgtk`ns juct` gybcrgrklc. Kn Dcrlmny, thc nulbcr à gybcrgrklc gmscs hms bccn rksknd. Gust`lcri`sscs thrùdh phkshknd kn `niknc bmneknd rcmghcj ₩=1.: lkiik`n kn 2?=7, mrùnj

₩2:?,??? pcr mjuit, 3 mnj l`bkic ph`ncs mrc cspcgkmiiy mttrmgtkvc tmrdcts(Bunjcserklknmimlt 2?=7). _ccr-t`-pccr icnjknd pimta`rls lmy pr`vkjc ghcmpcr i`mnskn pmrtkguimr t` pràcssk`nmis mnj scia-clpi`ycj knjkvkjumis thmn bmnes (WtkatundTmrcntcst 2?=7). H`wcvcr, thc i`mn vìulcs mnj nulbcr à uscrs mrc slmii. Zhc nccja`r ’s`gkmi icnjknd“ ks slmiicr thmn kn `thcr gùntrkcs bcgmusc thc lmrect a`r g`nsulcri`mns aungtk`ns g`lpmrmtkvciy wcii. 1 Ms lugh ms 88% à thc Dcrlmn p`puimtk`n(vcrsus 8=% à thc CS24) j`cs n`t cndmdc kn pccr-t`-pccr akic shmrknd wkth unen`wnpcrs`ns bcgmusc à scgurkty g`ngcrns (Cur`pcmn G`llkssk`n 2??;6 =8).

Zhc mb`vc stmtkstkgs j` n`t rcvcmi thmt lmny knjkvkjumis mrc cxgiujcj ar`l aknmngkmiscrvkgcs. Ssknd thc ncw Hùschìj Aknmngc mnj G`nsulptk`n Wurvcy mgr`ssCur`pcmn gùntrkcs, Ic Bimng ct mi. (2?=:) aknj thmt kn G`ntkncntmi Cur`pc, 4 ==.1% à

hùschìjs j` n`t hmvc mny grcjkt gmrj `r grcjkt iknc, 8.2% hmvc bccn turncj j`wn `rjksgùrmdcj ar`l mseknd a`r m i`mn, mnj :1% mrc ikeciy t` bc grcjkt g`nstrmkncj juc tì`w msscts. A`r Dcrlmny, thc EaT stmrt-up survcy aknjs thmt buskncss stmrt-ups, i`w-kng`lc amlkikcs, mnj slmii b`rr`wcrs hmvc jkaakguitkcs kn dmknknd mggcss t` i`mns. Kn

7 Kn 2?=2, thc nulbcr à ikac knsurmngc g`ntrmgts t` t`tmi p`puimtk`n rmtk` wms =?;% kn Dcrlmny mnj 8;% knthc Cur`pcmn Snk`n (Knsurmngc Cur`pc 2?=:).

: Jcutsghc Bunjcsbmne (2?=:b), `wn gmiguimtk`n.

3 Wtmtkstm (2?=2)5 `wn gmiguimtk`ns.

1 Kn thc SW, _2_ icnjknd ks l`stiy uscj t` rcaknmngc grcjkt gmrj i`mns. Zhks ks n`t ncgcssmry kn Dcrlmny

bcgmusc g`nsulcrs hmvc mggcss t` knstmiilcnt i`mns (Crtkndcr 2?=7).4 Mustrkm, Bcidkul, Armngc, Dcrlmny, Iuxclbùrd, Ncthcrimnjs

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2?=7, =4% à buskncss stmrt-ups wcrc aknmngkmiiy g`nstrmkncj (EaT 2?=:m). Zhcikecikh``j à aknmngkmi g`nstrmknts wms hkdhcst a`r stmrt-ups ùt à unclpi`ylcnt, whkghtypkgmiiy hmvc i`w cqukty mnj gìimtcrmi (EaT 2??8). Kn 2?=:, m akath à cntcrprkscs thmtmppikcj a`r i`mns jkj n`t dct rcgckvc thcl, mnj 28% à slmii cntcrprkscs (smics up t` ₩=lkiik`n) rcp`rtcj jkaakguitkcs kn dmknknd mggcss t` i`mns, m pcrgcntmdc ncmriy aùr tklcsms hkdh ms a`r imrdc g`lpmnkcs (smics drcmtcr thmn ₩3? lkiik`n). Cntcrprkscs yùndcrthmn 1 ycmrs g`lpimkncj à kngrcmscj jkaakguitkcs kn dmknknd mggcss t` i`mns. Zhc lmknbmrrkcrs mrc sccn kn thc bmnes‛ hkdhcr jclmnj a`r kna`rlmtk`n `n knvcstlcnt pr`fcgtsmnj buskncss jmtm ms wcii ms hkdhcr gìimtcrmi rcqukrclcnts, mnj 1?% à slmiicntcrprkscs mnj 1;% à yùnd cntcrprkscs mrc ikeciy t` bc jcnkcj grcjkt (EaT 2?=:b).Zhc vcnturc gmpktmi lmrect rclmkns unjcrjcvci`pcj g`lpmrcj a`r cxmlpic t` Armngc,thc Snktcj Ekndj`l, mnj thc SW, whkgh g`nstrmkns mggcss à knn`vmtkvc WLCs t` cquktygmpktmi (@CGJ 2?=:6 28).

Kn 2??;, 14?,??? `r =% à Dcrlmns mdcj =3‗4; hmj n` mggcss t` m bmne mggùnt.Bcgmusc à thc hkdh bmne mggùnt pcnctrmtk`n icvci kn Dcrlmny, thcsc g`nsulcrs mrcmt rkse à aknmngkmi cxgiusk`n (Gcntrc a`r Wtrmtcdy mnj Cvmiumtk`n Wcrvkgcs 2?=?6 =4).

Mggcss t` bmne scrvkgcs ks rcimtcj t` thc icvci à `vcr-knjcbtcjncss mnj thc s`gk`cg`n`lkg ghmrmgtcrkstkgs à hùschìjs. Zhc shmrc à `vcr-knjcbtcj knjkvkjumis8 wkthùt m gurrcnt mggùnt jcgikncj ar`l 22.=% kn 2??: t` =?.3% kn 2?=7, whk gh scclst` bc juc t` thc kntr`jugtk`n à thc s`-gmiicj mttmghlcnt pr`tcgtk`n mggùnt ; kn 2?=?(En`bi`gh ct mi. 2?=:). Cntrcprcncurs wkth mn kllkdrmtk`n bmgedrùnj mrc l`rc àtcnjcnkcj grcjkt thmn nmtkvcs (Brujcr, Ncubcrdcr, mnj Rêthec-Jñppncr 2?==). [ùndcntrcprcncurs hmvc t` pmy hkdhcr i`mn rmtcs thmn ìjcr `ncs bcgmusc à imgekndikqukjkty mnj slmiicr buskncsscs (Ncubcrdcr mnj Rêthec-Jñppncr 2?=3). Aclmiccntrcprcncurs mppiy icss àtcn a`r bmne i`mns juc t` acmr à rcfcgtk`n mnj mrc l`rcàtcn jcnkcj grcjkt thmn lmic cntrcprcncurs (Wtcamnk mnj Qmggm 2?=:). H`wcvcr, thcrcks wcme cvkjcngc a`r jksgrklknmtk`n, bcgmusc thcsc jkaacrcngcs gmn bc imrdciy

cxpimkncj by jkaacrcngcs kn rkse amgt`rs.

:. AKNMNGKMI RCDSIMZK@N MNJ WS_CRQKWK@N

D`vcrnlcnt kntcrvcntk`ns mrc fustkakcj by lmrect klpcracgtk`ns sugh ms l`n`pìyp`wcr, kng`lpictc kna`rlmtk`n, mnj trmnsmgtk`n g`sts. L`n`pìy p`wcr cxgiujcsg`nsulcrs by rcjugknd qumntktkcs mnj rmksknd prkgcs. Kng`lpictc mnj msyllctrkgkna`rlmtk`n kn grcjkt lmrects gmuscs grcjkt rmtk`nknd kn pmrtkguimr à slmii mnj `pmquccntcrprkscs. Lkgr` i`mns lmy n`t bc pr`vkjcj bcgmusc thcy mrc n`t pràktmbic juc t`thc akxcj g`sts à sgrccnknd mnj l`nkt`rknd b`rr`wcrs. M imge à trmnspmrcngy àpr`jugt ghmrmgtcrkstkgs mnj knmjcqumtc aknmngkmi iktcrmgy à g`nsulcrs klpmkr thc usc à

hkdh-qumikty aknmngkmi pr`jugts. Aknmngkmi kngiusk`n kn Dcrlmny ks a`stcrcj by m vmrkctyà rcduimtk`ns, knstktutk`ns, mnj pubikg pr`drmls. Zhc l`st klp`rtmnt `ncs mrcjksgusscj kn thc aìi`wknd scgtk`n.

:.= Rcduimt`ry mnj Wupcrvks`ry Muth`rktkcs

Bmnes mnj knsurmngc g`lpmnkcs mrc supcrvkscj by thc Acjcrmi Aknmngkmi Wupcrvks`ry Muth`rkty (BmAkn), whkgh ks rcsp`nskbic a`r thckr smacty mnj sùnjncss. BmAkn mis` pimysm icmjknd rìc kn klpiclcntknd mnj cnhmngknd aknmngkmi g`nsulcr pr`tcgtk`n. Zhc

8 @vcr-knjcbtcjncss ks g`ngcntrmtcj mrùnj lkjjic-mdcj g`nsulcrs wkth bci`w mvcrmdc icvcis àcjugmtk`n, imndumdc sekiis, kng`lc, `r msscts (En`bi`gh ct mi. 2?=:6 27, 3?).

; Zhks ’_aênjundssghutze`nt`“ mggùnt ks cxclptcj ar`l thc mttmghlcnt à wmdcs.

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11/28


Dcrlmn gcntrmi bmne (Jcutsghc Bunjcsbmne) a`guscs `n prkgc stmbkikty mnj aknmngkmisystcl stmbkikty `n m lmgr` icvci, but ks mis` rcsp`nskbic a`r gmsh suppiy, gmshicsspmylcnts, mnj bmneknd supcrvksk`n. Thcrcms BmAkn mnj Bunjcsbmne `pcrmtc mt thcnmtk`nmi icvci mnj supcrvksc thc bkd aknmngkmi pr`vkjcrs, thc i`gmi g`llcrgkmi rcduimt`rymuth`rktkcs (Dcwcrbcmuaskghtsêltcr) g`ntrì thc w`re à aknmngkmi scrvkgcskntcrlcjkmrkcs wkth rcspcgt t` mjlkssk`n rcqukrclcnts, rcikmbkikty, mnj pràcssk`nmig`lpctcngcs (Zkaac mnj Gicrg-Rcnmuj 2?=:).

:.2 _ubikg Wmvknds Bmnes

_ubikg smvknds bmnes, whkgh j`lknmtc rctmki lmrects, cnsurc m hkdh bmne ùtrcmgh mnjg`lpctktk`n ml`nd thc thrcc bmneknd drùps kn mii rcdk`ns (scc Wcgtk`n 7). Zhcbcncakts à rcimtk`nshkp icnjknd pr`vkjcj by sugh i`gmi bmnes mrksc ar`l thc usc à sàtkna`rlmtk`n `vcr tklc (B``t 2???). Kn Dcrlmny, cntcrprkscs usumiiy lmkntmkn m gi`scmnj i`nd-tcrl rcimtk`nshkp wkth `nc lmkn bmne thmt pr`vkjcs thcl wkth i`nd-tcrl i`mns.Clpkrkgmi stujkcs sh`w thmt rcimtk`nshkp icnjknd mgg`rjknd t` thks Dcrlmn ’hùscbmne“

l`jci hcips t` rcjugc aknmngknd g`nstrmknts cspcgkmiiy a`r `pmquc WLCs by kngrcmskndgrcjkt mvmkimbkikty, rcjugknd i`mn r mtcs mnj gìimtcrmi rcqukrclcnts, mnj pr`vkjknd m eknjà ikqukjkty knsurmngc `vcr tklc.=?

Wlmii i`gmi bmnes stmbkikzcj thc Dcrlmn cg`n`ly jurknd thc aknmngkmi grksks bykngrcmsknd thckr i`nd-tcrl icnjknd (Cg`n`lkst 2?=25 Wmghvcrstênjkdcnrmt zurBcdutmghtund jcr dcsmltwkrtsghmatikghcn Cntwkgeiund 2??8). Akdurc 7 sh`ws thmt kn2??8‗2??;, g`llcrgkmi bmnes mnj Imnjcsbmnecn shmrpiy rcjugcj i`mns t` j`lcstkgcntcrprkscs mnj thc scia-clpi`ycj, whkic smvknds bmnes mnj g``pcrmtkvc bmneskngrcmscj thcl. Mithùdh thc i`gmi smvknds bmnes mrc kn pubikg hmnjs, thcy sccl t`pcra`rl bcttcr thmn prkvmtc bmnes (Vkllcrlmnn mnj Wghêacr 2?=?6 =3?). Zhc imrdcsti`sscs jurknd thc aknmngkmi grksks skngc 2??4 mggrucj t` thc Imnjcsbmnecn, m spcgkmi

stmtc bmne, mnj m imrdc prkvmtc l`rtdmdc bmne. Zhc i`gmi smvknds bmnes sh`w hkdhicvcis à caakgkcngy. Cvcn ka thckr lkssk`n à pr`vkjknd aknmngkmi scrvkgcs t` mii rcdk`nshms kts g`sts kn tcrls à caakgkcngy i`sscs, thcsc g`sts sccl t` bc ùtwckdhcj by thckngrcmsc kn bmneknd drùp g`lpctktk`n (G`nrmj, Ncubcrdcr, mnj Zrkd` Dmlmrrm 2?=:).Zhcrca`rc, thcy shùij rclmkn kn pubikg hmnjs. Zhc Imnjcsbmnecn, h`wcvcr, stkii nccjt` bc rcstrugturcj, kngiujknd thrùdh prkvmtkzmtk`n mnj kngrcmscj a`gus `n thckrtrmjktk`nmi rìc ms gcntrmi bmnes a`r thc smvknds bmnes (@CGJ 2?=:).

=? Wcc Cisms mnj Ermhncn (=;;8), Hmrhàa mnj Eñrtknd (=;;8), Ichlmnn mnj Ncubcrdcr (2??=), Wtckn

(2?=:), Ncubcrdcr mnj Rêthec-Jñppncr (2?=3)5 a`r m iktcrmturc rcvkcw, scc Jcdrysc, Ekl, mnj @ndcnm(2??;).

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12/28


Akdurc 76 I`mns t` J`lcstkg Cntcrprkscs mnj Wcia-clpi`ycj (wkthùt scgurktkcs)

Wùrgc6 Jcutsghc Bunjcsbmne (2?=7)5 muth`r‛s ̀ wn gmiguimtk`ns.

:.7 _r`l`tk`nmi Bmnes

_r`l`tk`nmi bmnes pursuc cg`n`lkg, strugturmi, mnj s`gk`pìktkgmi d`mis ikec supp`rtkndWLCs, mdrkguiturc, knarmstrugturc, hùsknd, mnj urbmn jcvci`plcnt. Zhcy mrcg`lpictciy `r pmrtiy stmtc-`wncj mnj àtcn bmgecj by stmtc dumrmntccs. Zhcrc mrc twàcjcrmi pubikg pr`l`tk`nmi bmnes (thc EaT jcvci`plcnt bmne mnj ImnjwkrtsghmatikghcRcntcnbmne) mnj =4 rcdk`nmi pr`l`tk`nmi bmnes (Imnjcsañrjcrknstktutc). Mg`lprchcnskvc systcl à pubikg supp`rt pr`drmls mkls t` g`lpcnsmtc a`r lmrectamkiurcs, pr`vkjknd grcjkt, lczzmnknc, mnj cqukty gmpktmi mt amv`rmbic tcrls mnj

g`njktk`ns t` g`nsulcrs (c.d., h`lc aknmngc, stujcnt i`mns, mnj cjugmtk`nmi i`mns)mnj cntcrprkscs, kn pmrtkguimr stmrt-ups mnj WLCs.

Zhc buskncss l`jci à pr`l`tk`nmi bmnes ks `rdmnkzcj ms aìi`ws (QÑB 2?=:5 Wghêacrmnj Vkllcrlmnn 2??8)6

- _r`l`tk`nmi bmnes mrc grcjkt knstktutk`ns subfcgt t` thc Dcrlmn bmneknd imw mnjm pubikg lkssk`n.

- Mgg`rjknd t` thc ’hùscbmne prkngkpic,“ pr`l`tk`nmi bmnes g`njugt l`st à thckricnjknd thrùdh rcaknmngknd thc gust`lcrs‛ buskncss bmnes, whkgh msscss thcgrcjktw`rthkncss mnj lmkntmkn thc gust`lcr rcimtk`nshkp. Zhks cnsurcs thmtpr`l`tk`nmi mgtkvktkcs mrc subskjkmry mnj ncutrmi a`r g`lpctktk`n mnj thmt thc

bcncakts à rcimtk`nshkp icnjknd by i`gmi bmnes mrc lmkntmkncj. Zhc hùscbmnehms t` bcmr mt icmst pmrt à thc grcjkt rkse. Jkrcgt knvcstlcnts à pr`l`tk`nmibmnes kn cqukty gmpktmi mrc g`njktk`ncj `n cqumi pmrtkgkpmtk`ns à prkvmtc cquktyaunjs mgtknd ms icmj knvcst`rs.

- Gust`lcrs‛ mggcss t` aknmngc mt amv`rmbic tcrls mnj g`njktk`ns ks rcmghcj b`th thrùdh stmtc dumrmntccs, whkgh rcjugc pr`l`tk`nmi bmnes‛ rcaknmngknd g`sts `ngmpktmi lmrects, mnj stmtc subskjkcs wkthkn spcgkmi pr`drmls.

Zhc i`mns kngiujc lkgrì`mns bci`w ₩23,???, pr`vkjcj wkthkn spcgkakg lkgrì`mnsghclcs, ms wcii ms dcncrmi buskncss pr`l`tk`n pr`drmls mnj thc WtmrtDcij pr`drmlà EaT (Bcnjkd, Sntcrbcrd, mnj Wmrp`nd 2?=26 11). Clpkrkgmi cvkjcngc sh`ws p`sktkvccaacgts à pr`l`tk`nmi bmnes‛ mgtkvktkcs `n mggcss t` aknmngc à WLCs mnj scia-

clpi`ycj pràcssk`nmis, cg`n`lkg pr`jugtk`n, clpi`ylcnt, mnj dr`wth. Jcspktc

-2?.??%

-=3.??%

-=?.??%

-3.??%

?.??%

3.??%

=?.??%

=3.??%

=;;;-?=2???-?= 2??=-?=2??2-?= 2??7-?=2??:-?= 2??3-?=2??1-?= 2??4-?=2??8-?= 2??;-?=2?=?-?= 2?==-?=2?=2-?=

G`llcrgkmi bmnes Wmvknds bmnes G``pcrmtkvc bmnes Imnjcsbmnecn

=?


13/28


p`sskbic wknjamii dmkns `r gr`wjknd ùt caacgts, thckr nct bcncakts sccl t` bc p`sktkvc(Wghêacr mnj Vkllcrlmnn 2??85 Gcntrc a`r Wtrmtcdy mnj Cvmiumtk`n Wcrvkgcs 2?=2).Zhc Dcrlmn Gùngki à Cg`n`lkg Mjvks`rs hms rcg`llcnjcj mn kngrcmsknd usc àpubikg pr`l`tk`nmi bmnes mi`nd thc Dcrlmn l`jci mnj g``pcrmtk`n à sugh bmnesmgr`ss gùntrkcs t` a`stcr WLC aknmngc kn Cur`pc (Wmghvcrstênjkdcnrmt zurBcdutmghtund jcr dcsmltwkrtsghmatikghcn Cntwkgeiund 2?=76 227). H`wcvcr, klpr`vkndmggcss t` aunjknd a`r stmrt-ups mnj knn`vmtkvc WLCs rcqukrcs n`t `niy aknmngkmi supp`rt,but mis` bcttcr cxkt p`sskbkiktkcs a`r vcnturc gmpktmiksts (@CGJ 2?=:6 28).

:.: Dumrmntcc Bmnes

Z` prcvcnt pràktmbic knvcstlcnt pr`fcgts ar`l n`t bcknd rcmikzcj bcgmusc àknsuaakgkcnt gìimtcrmi `r cqukty, dumrmntcc bmnes supp`rt grcjkt mnj cqukty aknmngknd àcntcrprkscs mnj pràcssk`nmis by drmntknd surctkcs mnj cqukty dumrmntccs. Zhcy wcrcgrcmtcj ms scia-hcip knstktutk`ns à WLCs l`rc thmn 1? ycmrs md` mnj mrc sp`ns`rcj byknjustry mss`gkmtk`ns, bmnes, mnj knsurmngc g`lpmnkcs. Z`jmy, =4 dumrmntcc bmnes

subfcgt t` thc Dcrlmn bmneknd imw `pcrmtc mt thc acjcrmi stmtc icvci. By tmeknd `nscgurktkcs t` gìimtcrmikzc i`mns mnj dumrmntccs t` rcjugc thc rkse à cquktyknvcstlcnts, thcy cmsc thc aknmngknd à WLCs by n`rlmi bmnes mnj prkvmtc cquktyg`lpmnkcs. Zhc jcamuit rkse ks iklktcj by gùntcr scgurktkcs mnj gùntcr dumrmntccsar`l thc acjcrmi d`vcrnlcnt mnj thc rcspcgtkvc acjcrmi stmtc, whkgh g`vcr up t` 8?% àthc rkse (QJB 2?=:).

Clpkrkgmi stujkcs sh`w p`sktkvc caacgts à Dcrlmn dumrmntcc bmnes `n DJ_,clpi`ylcnt, akrl dr`wth, mnj thc stmtc‛s nct aknmngknd p`sktk`n. Dumrmntccs hmvc icssjkst`rtk`nmry caacgts thmn knvcstlcnt drmnts mnj subskjkcs (Wghlkjt mnj vmn Ciemn2??1, 2?=?5 Ncubcrdcr mnj Rêthec-Jñppncr 2??8).

:.3 Lkgràknmngc Knstktutk`nsLkgrì`mns mrc pr`vkjcj by pr`l`tk`nmi bmnes, i`gmi clpi`ylcnt mdcngkcs (f`bgcntcrs) mnj lkgràknmngc knstktutk`ns (LAKs). Mithùdh thcrc ks mn `vcrimp, pr`l`tk`nmibmnes tmrdct bmnembic cntrcprcncurs, LAKs mkl t` rcmgh n`n-bmnembic cntrcprcncursmnj f`b gcntcrs tmrdct pc`pic ùtskjc thc f`b lmrect. LAKs `pcrmtc unjcr vmrkùs icdmia`rls mt thc rcdk`nmi `r nmtk`nmi icvci wkthùt m bmneknd ikgcnsc juc t` thckr slmii skzc(Bcnjkd, Sntcrbcrd, mnj Wmrp`nd 2?=:). Kn 2?=?, thc lkgrìcnjknd aunj’Lkerèrcjkta`njs Jcutsghimnj“ wms aùnjcj t` cmsc mggcss a`r stmrt-ups, thcunclpi`ycj, mnj thc scia-clpi`ycj t` i`mns wkth m vìulc up t` ₩2?,???. Kt ks bmscj`n thc aìi`wknd g``pcrmtk`n l`jci (Jcutsghcs Lkeràknmnz Knstktut 2?=7b)6

- LAKs rcg`llcnj i`mns t` bmnes mnj mrc rcsp`nskbic a`r mii gust`lcrg`ntmgt. Zhcy mnmiyzc i`mn rcqucsts, mjvksc gust`lcrs, l`nkt`rrcpmylcnts, mnj rcmikzc thc gìimtcrmi à thc i`mns jurknd thc jurmtk`n àthc g`ntrmgt.

- Zhc i`mns mrc drmntcj by m g``pcrmtknd bmne, whkgh j`cs n`t hmvc mnyg`ntmgt wkth thc gust`lcrs.

- Zhc rkse à jcamuit ks shmrcj bctwccn thc LAKs mnj m dumrmntcc aunj,whkgh rcluncrmtcs thc LAKs. Zhc LAKs bcmr m akrst-i`ss ikmbkikty à mt l`st2?% à thckr t`tmi i`mn p`rtaìk`.

- Zhc LAKs mrc mggrcjktcj, trmkncj, mnj l`nkt`rcj by thc Dcrlmn Lkgràknmngc Knstktutc (Jcutsghcs Lkeràknmnzknstktut) (JLK) t` cnsurc m hkdh qumikty à

icnjknd mnj rcsp`nskbic icnjknd (Jcutsghcs Lkeràknmnz Knstktut 2?=7m).

==


14/28


Mii pmrtncrs hmvc t` g`llkt t` m g`jc à g`njugt bmscj `n thc ’G`jc à D``j G`njugt“à thc CLN Cur`pcmn Lkgràknmngc Nctw`re mnj thc T`rij Bmne, whkgh jcakncsprkngkpics à rcsp`nskbic icnjknd (Jcutsghcs Lkeràknmnz Knstktut 2?=7m). H`wcvcr,thcsc mrc `niy rcg`llcnjmtk`ns mnj thcrc mrc n` icdmi bknjknds. Bmne trmknknd a`rlmnmdcrs à LAKs ks n`t ncgcssmry.

Kn 2?=?, thc lkgrì`mn aunj stmrtcj wkth ₩=?? lkiik`n pr`vkjcj by thc Dcrlmnd`vcrnlcnt mnj thc Cur`pcmn W`gkmi Aunj.== Sntki 2?=7, thc LAKs wcrc rcluncrmtcjby unkt pmylcnts mnj m ycmriy drmtkakgmtk`n à =?% à mii rcpmylcnts lknus i`sscs. Kn2?=:, thc unkt pmylcnts wcrc mbìkshcj mnj thc drmtkakgmtk`n wms kngrcmscj t` =8% àrcpmylcnts. Zhc aunj dumrmntccs thmt thc grcjkt drmntknd bmne j`cs n`t bcmr mnygrcjkt rkse. Zhc i`mn vìulc ks usumiiy slmii mt thc bcdknnknd à m grcjkt rcimtk`nshkp mnjthcn kngrcmscj by stcp matcr suggcssaui rcpmylcnt. Kn 2?=7, thc mvcrmdc i`mn mlùntwms ₩3,4?? (vcrsus ₩=8,??? a`r lkgrì`mns pr`vkjcj by pr`l`tk`nmi bmnes). Zhcjurmtk`n rmndcs ar`l m acw l`nths t` 7 ycmrs (vcrsus =? ycmrs mt pr`l`tk`nmi bmnes).Zhc caacgtkvc kntcrcst rmtc ks akxcj mt 8.;%, mb`vc thc kntcrcst rmtc à 7%‗4% mppikcj mtpr`l`tk`nmi bmnes (Bcnjkd, Sntcrbcrd, mnj Wmrp`nd 2?=:). Zhc i`mns mrc

gìimtcrmikzcj.

Zhc d`mi t` pr`vkjc =3,??? lkgrì`mns untki 2?=3 wms mircmjy rcmghcj kn 2?=7(Bcnjkd, Sntcrbcrd, mnj Wmrp`nd 2?=2, 2?=:). @a thc lkgrì`mns, 3?% wcrc uscj a`rcxkstknd cntcrprkscs, 72% a`r stmrt-ups ùt à unclpi`ylcnt mnj =8% a`r `thcr stmrt-ups. Kn 2?=7, scvcrmi LAKs hmj t` cxkt thc lmrect juc t` hkdh jcamuits (Bcnjkd,Sntcrbcrd, mnj Wmrp`nd 2?=:). =2 Zhc lkgrì`mn aunj g``pcrmtcj wkth DIWDclcknsghmatsbmne, m g``pcrmtkvc bmne `rkcntcj t`wmrj s`gkmi mnj cgì`dkgmi d`mis.H`wcvcr, mt thc cnj à 2?=: thc DIW bmne gmngciicj kts g``pcrmtk`n wkth thc lkgrì`mnaunj. @n 3 Jcgclbcr 2?=:, lkgrìcnjknd by LAKs wms st`ppcj.=7

Cvmiumtk`ns à thc suggcss à thc lkgrì`mn pr`drml kn rcjugknd p`vcrty mrc lkssknds` amr. Cvcn ka thc d`mi t` kngrcmsc thc nulbcr à lkgrì`mns hms bccn rcmghcj, thkslmy n`t hcip thc gust`lcrs t` dct ùt à p`vcrty bcgmusc thc i`mns mrc n`t uscjpr`jugtkvciy, mrc t`` slmii, `r mrc t`` sh`rt tcrl. Mii cxkstknd cvmiumtk`ns àlkgràknmngc kn vmrkùs gùntrkcs sh`w thmt hùschìj ùtg`lcs rclmkn unmaacgtcjmnj lkgràknmngcj buskncsscs amki t` dr`w `r àtcn j` n`t survkvc a`r i`nd (Bmncrfcc,Juai`, mnj H`rnbcge 2?=:). Rcvkcwknd thc kntcrnmtk`nmi jcvci`plcnts wkth thc dr`wkndknjcbtcjncss à LAK gikcnts, Jcutsghc Bmne aknjs thmt ’m g`nscnsus ks n`w clcrdkndthmt pr`bicls mrc r``tcj … wkthkn thc ghmrmgtcrkstkgs à thc lkgràknmngc knjustry“ (JBRcscmrgh 2?=26 =). Dcncrmiiy, lkgrìcnjknd ùtskjc thc bmneknd scgt`r ks knacrk`r t`n`rlmi bmne icnjknd juc t` scvcrmi rcms`ns6

- By tmrdctknd thc unbmnembic, lkgrìcnjknd rcjugcs thc prcssurc t` a`rgcbmnes t` pr`vkjc scrvkgcs t` mii knjkvkjumis. Zhc d`mi t` kngrcmsc thc

nulbcr à i`mns t` thc unbmnembic mjjrcsscs thc sylpt`l à grcjktrmtk`nknd rmthcr thmn thc gmusc à cxgiusk`n ar`l bmne mggùnts.

- Lkgrìcnjknd j`cs n`t usc thc bcncakts à rcimtk`nshkp bmneknd thrùdhi`nd-tcrl gust`lcr rcimtk`nshkps mnj pr`vksk`n à b`th icnjknd mnj jcp`sktscrvkgcs t` thc smlc gust`lcr.

- Zhc phki`s`phy à icnjknd t` pc`pic wkthùt m bmne mggùnt ncdicgts thc

== Kts prcjcgcss`r, thc ’Lkeràknmnza`njs Jcutsghimnj,“ whkgh `pcrmtcj ar`l 2??1 t` 2??;, wms w`rth `niy ₩2 lkiik`n (Bcnjkd, Sntcrbcrd, mnj Wmrp`nd 2?=:).

=2 Zhc jcamuit rmtc vmrkcj bctwccn 7% mnj l`rc thmn 2?% mgr`ss LAKs (JLK 2?=:).

=7 http6//www.lkerèrcjkt.nct/metuciics/ (mggcsscj : Acbrumry 2?=3).

=2

http://www.mikrokredit.net/aktuelles/http://www.mikrokredit.net/aktuelles/


15/28


klp`rtmnt rìc à smvknds a`r cg`n`lkg jcvci`plcnt. Zhc suggcss à thcg`llunkty-bmscj smvknds mnj i`mn systcl, whkgh stmrtcj t` bc jcvci`pcjkn Dcrlmny kn thc imtc =8th gcntury wkth thc smvknds bmnes mnj ikttic imtcrwkth thc smvknds mnj i`mn g``pcrmtkvcs à Rmkaackscn mnj Wghuizc-Jciktzsgh, sh`ws thmt thc wcmith à mn cg`n`ly jcpcnjs `n thcmgguluimtk`n à smvknds t` bc ghmnncicj t` pr`jugtkvc knvcstlcnts thrùdhi`mns. Lkgrìcnjknd, kn g`ntrmst, ks bmscj `n thc lyth thmt fust pr`vkjkndl`ncy `r pr`pcrty rkdhts ks m bicssknd a`r thc p``r (Rckancr 2?==6 :?4).

:.1 Aknmngkmi G`nsulcr _r`tcgtk`n

Rcsp`nskbic aknmngc a`r g`nsulcrs kngiujcs thrcc pkiimrs6 rcduimtk`n mnj supcrvksk`n àaknmngkmi g`nsulcr pr`tcgtk`n (AG_), scia-rcduimtk`n by aknmngkmi knstktutk`ns, mnjaknmngkmi cjugmtk`n. Zhc l`st klp`rtmnt pkiimr ks AG_ thrùdh mjcqumtc rcduimt`ryarmlcw`re mnj g`nsulcr mss`gkmtk`ns. AG_ hms m l`rc thmn =??-ycmr-ìj trmjktk`n knthc a`rl à thc Dcrlmn Gkvki G`jc, whkgh cstmbikshcj stmnjmrjs a`r jksgi`surc, mjvkgc,

mnj pr`tcgtk`n mdmknst usury. Tkthkn thc imst jcgmjcs, kntcrnmtk`nmi (CS) g`nsulcrpr`tcgtk`n rcduimtk`ns hmvc bccn kng`rp`rmtcj knt` thks imw, whkic ncw g`jcs hmvcbccn cstmbikshcj a`r knsurmngc mnj l`st à thc gmpktmi lmrect rcduimtk`ns `rkcntcjt`wmrj mii gikcnts. M gurrcnt trcnj jrkvcn by CS imw ks t` sct g`ll`n stmnjmrjs a`r miiaknmngkmi scrvkgcs, sugh ms stmnjmrjkzcj prc-g`ntrmgtumi kna`rlmtk`n, pr`jugtcxpimnmtk`n, cxtcnjcj ikmbkikty à thc pr`vkjcr kn gmsc à lks-sciiknd, mnj thc juty àkntcrlcjkmrkcs t` hmvc ikmbkikty knsurmngc. Thkic thks hcips g`nsulcrs c.d., bykngrcmsknd trmnspmrcngy mnj gi`sknd dmps kn unrcduimtcj gmpktmi lmrects, m jrmwbmgeà thcsc CS rcduimtk`ns ks thmt thcy a`gus `n thc smic à aknmngkmi scrvkgcs, k.c., thc tklcbca`rc mnj jurknd thc g`ntrmgt ks mdrccj, whkic jutkcs jurknd thc whìc ikac tklc à thcuscrs, sugh ms mggcss, cxpi`ktmtk`n, gmngciimtk`n, usury, jcbt cna`rgclcnt, mjmptmtk`n,mnj g`ntknukty, mrc ncdicgtcj (Zkaac mnj Gicrg-Rcnmuj 2?=:5 N`dicr mnj Rckancr 2?=:6

:=). Z` cnsurc rcsp`nskbic aknmngc, gmpktmi uscrs nccj t` bc pr`tcgtcj ar`lkrrcsp`nskbic icnjknd kn i`nd-tcrl grcjkt g`ntrmgts. Z` thks mkl, thc Cur`pcmn W`gkmiG`ntrmgt Jcgimrmtk`n hms imkj j`wn prkngkpics à s`gkmi i`nd-tcrl g`ntrmgts kn g`nsulcrgrcjkt imw (CSW@G@ 2?=:) mnj thc Cur`pcmn G`miktk`n a`r Rcsp`nskbic Grcjkt hms sctup prkngkpics à rcsp`nskbic grcjkt (Cur`pcmn G`miktk`n a`r Rcsp`nskbic Grcjkt 2?=:).

Rcdmrjknd thc knstktutk`nmi imnjsgmpc, pubikgiy aknmngcj g`nsulcr mss`gkmtk`ns kn cmghacjcrmi stmtc pimy mn klp`rtmnt rìc kn AG_. @rdmnkzcj kn thc Acjcrmtk`n à G`nsulcr Mss`gkmtk`ns (vzbv), thcy àacr dcncrmi aknmngkmi mjvkgc mnj icdmi mkj a`r g`nsulcrs mnjg`njugt lmrect survckiimngc mnj gmlpmkdns. Ka thcy hmvc thc `pknk`n thmt m pr`vkjcr‛sprmgtkgc ks mdmknst thc imw thcy gmn akic m imwsukt. Dcrlmn g`nsulcr mss`gkmtk`ns hmvcimunghcj scvcrmi gimkls mdmknst lmf`r knsurcrs mnj bmnes (Zkaac mnj Gicrg-Rcnmuj

2?=:).Kn mil`st cvcry gkty mnj rcdk`n g`nsulcrs hmvc mggcss t` pubikg jcbt mjvks`r`rdmnkzmtk`ns, whkgh pr`vkjc arcc hcip mnj icdmi mkj, kn pmrtkguimr t` `vcr-knjcbtcjknjkvkjumis. Jcbt mjvks`r `rdmnkzmtk`ns mrc `rdmnkzcj kn nmtk`nwkjc mss`gkmtk`ns thmta`rluimtc jclmnjs `n pìktkgkmns, pr`jugc pubikgmtk`ns a`r prcvcntk`n, mnj `rdmnkzctrmknknd a`r jcbt mjvks`rs, ml`nd `thcr aungtk`ns. Jcbt mjvks`r `rdmnkzmtk`ns mnjg`nsulcr mss`gkmtk`ns w`re gi`sciy t`dcthcr (Zkaac mnj Gicrg-Rcnmuj 2?=:6 27).

Zhc icdmi cna`rgclcnt à g`nsulcr pr`tcgtk`n gmn bc mghkcvcj by mjlknkstrmtkvccna`rgclcnt mnj knjkvkjumi `r gìicgtkvc gimkls mdmknst aknmngkmi pr`vkjcrs. Mn`thcrd``j prmgtkgc a`r AG_ kn Dcrlmny ks thc mgtkvc rìc à stmtc-subskjkzcj lcjkm knpr`vkjknd dcncrmi, ncutrmi aknmngkmi mjvkgc, g`njugtknd tcsts, knvcstkdmtknd prkgcs,

=7


16/28


pubikshknd wmrnknds mbùt lks-sciiknd prmgtkgcs, mnj cxpimknknd ncw tcghnkgmistmnjmrjs t` g`nsulcrs, ml`nd `thcrs (Zkaac mnj Gicrg-Rcnmuj 2?=:).

:.4 Rkdht t` m Bmskg Bmne Mggùnt

W` amr, bmnes kn Dcrlmny mrc n`t bùnj by imw t` pr`vkjc bmskg bmne mggùnts t` miigktkzcns. Kn =;;3, thcy skdncj m vìuntmry mdrcclcnt t` pr`vkjc m ’dkr` mggùnt t` mii,“whkgh, h`wcvcr, jkj n`t prcvcnt cxgiusk`n à lmny knjkvkjumis ar`l m bmne mggùnt mnjwms aìi`wcj `niy by pubikg smvknds bmnes kn s`lc acjcrmi stmtcs (Hmnjcisbimtt 2?=:).Kn Fuiy 2?=: thc Cur`pcmn Gùngki mj`ptcj Jkrcgtkvc 2?=:/;2/CS `n thc g`lpmrmbkiktyà accs rcimtcj t` pmylcnt mggùnts, pmylcnt mggùnt swktghknd, mnj mggcss t`pmylcnt mggùnts wkth bmskg acmturcs. Zhc jkrcgtkvc prcsgrkbcs thmt g`nsulcrs shùijbc dumrmntccj mggcss t` bmskg pmylcnt scrvkgcs, kngiujknd thc amgkikty t` pimgc aunjsmnj wkthjrmw gmsh. Z` kngiujc unbmnecj vuincrmbic g`nsulcrs, pmylcnt mggùntswkth bmskg acmturcs shùij bc àacrcj arcc à ghmrdc `r a`r m rcms`nmbic acc (CSR-ICX2?=:). CS lclbcr stmtcs hmvc t` klpiclcnt thc ncw ruics knt` nmtk`nmi imw by 2?=1.

H`wcvcr, thks wkii n`t shkcij g`nsulcrs mdmknst ikqukjkty rkse, bcgmusc thcy wkii stkiihmvc n` rkdht t` mn `vcrjrmat mnj stkii amgc thc rkse thmt msscts mrc mttmghcj kn thc gmscà kiikqukjkty. Zhcrca`rc, thc jcaknktk`n à m bmskg bmne mggùnt shùij bc cxtcnjcj wkththc pr`vksk`n à `vcrjrmat grcjkt mnj pr`tcgtk`n ar`l mttmghlcnt à m lknkluls`gk`guiturmi subskstcngc. D`vcrnlcnts gùij pr`vkjc a`r maa`rjmbic bmne mggùnts bydkvknd kngcntkvcs t` bmnes t` àacr sugh amgkiktkcs ckthcr thrùdh m aunj, by gcntrmijkstrkbutk`n, `r thrùdh mjvmntmdcs. M grcjkt iknc knsurcj `r dumrmntccj by m pubikgcntkty gùij ciklknmtc pmyjmy `r l`bkic ph`nc i`mns (Rckancr 2?=2).

:.8 Grcjkt Rcp`rtknd Wystcl

Grcjkt rcp`rtknd ms m systcl a`r gìicgtknd, shmrknd, mnj usknd rcicvmnt jmtm a`r lmeknd`r lmnmdknd grcjkt mdrcclcnts a`stcrs aknmngkmi kngiusk`n by mii`wknd grcjkt`rs t`cvmiumtc rkses l`rc caacgtkvciy mnj clp`wcrknd g`nsulcrs by bukijknd grcjkt rcp`rts. Ktg`lprkscs knjkvkjumis ms jmtm subfcgts, grcjkt`rs ms jmtm pr`vkjcrs, mnj uscrs mnjgrcjkt burcmus ms gìicgt`rs, pr`gcss`rs, mnj suppikcrs à jmtm. Grcjkt rcp`rtknd hms t`bc rcduimtcj t` cnsurc rcsp`nskbic icnjknd mnj mt thc smlc tklc rcspcgt prkvmgy mnjjmtm pr`tcgtk`n (GC_W-CGRK 2?=7).

Kn kntcrnmtk`nmi g`lpmrks`n, Dcrlmny hms rcmghcj thc hkdhcst jcpth à grcjktkna`rlmtk`n mnj =??% prkvmtc grcjkt burcmu g`vcrmdc, but `niy m =.7% pubikg grcjktburcmu g`vcrmdc ms m pcrgcntmdc à thc mjuit p`puimtk`n (T`rij Bmne 2?=3). Kt hms mi`nd trmjktk`n à prkvmtc grcjkt burcmus, whkgh hmvc bccn cstmbikshcj ms scia-hcip`rdmnkzmtk`ns à grcjkt`rs kn i`gmi lmrects. @niy imrdc i`mns, cxgccjknd ₩= lkiik`n, mrc

rcdkstcrcj wkth thc pubikg knstktutk`n, thc Dcrlmn Gcntrmi Bmne, whkgh thcn kna`rls thcbmnes mbùt thc t`tmi knjcbtcjncss à thc rcspcgtkvc b`rr`wcrs. Wlmii i`mns by WLCs`r knjkvkjumis mrc rcdkstcrcj by prkvmtc grcjkt burcmus, whkgh j` n`t nccj m ikgcnsc. Kn2?=7, thc Dcrlmn mss`gkmtk`n à grcjkt burcmus g`lprkscj ckdht knstktutk`ns. Zhclmrect ks j`lknmtcj by Wghuam Hìjknd (`wncj by bmnes mnj trmjc akrls), aìi`wcj byGrcjktrca`rl B`nkvcrsul. Zhckr lmf`r scrvkgcs mrc pr`vkjknd grcjkt sg`rknd kna`rlmtk`n,gmrryknd ùt kjcntkty ghcges, mnj armuj prcvcntk`n. Grcjkt sg`rknd ks klp`rtmnt a`raknmngkmi kngiusk`n bcgmusc Dcrlmn bmnes mrc `bikdcj by imw (LmRkse wkthkn thc BmsciKKK armlcw`re) t` bmsc thckr i`mn prkgknd `n grcjkt sg`rcs.

Thkic Dcrlmn grcjkt burcmus mrc subfcgt t` s`lc à thc str`ndcst jmtm pr`tcgtk`n imws,thckr grcjkt sg`rknds mrc n`t trmnspmrcnt mnj mrc àtcn unrcikmbic. G`nsulcrs mrc

cntkticj t` rcgckvc pcrs`nmi grcjkt rcp`rts, whkgh cnmbic thcl t` rcvkcw mnj vcrkay jmtm

=:


17/28


st`rcj by Wghuam. H`wcvcr, Wghuam‛s grcjkt sg`rknd kna`rlmtk`n tcnjs t` bc aimwcj `rkng`lpictc. Zhc sg`rcs mrc n`t mggurmtc bcgmusc thcy mrc bmscj `n amisc jmtm mnj kt ksungicmr h`w thcy wcrc gmiguimtcj. Zhc grcjkt burcmus trcmt thckr sg`rknd mid`rkthls msbuskncss scgrcts. Z` pr`tcgt g`nsulcrs ar`l amisc grcjkt sg`rknds, whkgh lmy cxgiujcthcl ar`l aknmngkmi scrvkgcs mnj m n`rlmi ikac kn s`gkcty, knjcpcnjcnt `r pubikg grcjktburcmus mrc ncgcssmry (E`rgzme mnj Tkiecn 2??;).

3. AKNMNGKMI CJSGMZK@N

3.= Ncgcsskty, G`ngcpt, mnj D`mis à Aknmngkmi Cjugmtk`n

Zhc nccj a`r aknmngkmi cjugmtk`n à g`nsulcrs hms dr`wn bcgmusc à kngrcmscj lmrect`pp`rtunktkcs wkth rkse-shkatknd t` g`nsulcrs. Kn Dcrlmny, thks ks juc t` thrccjcvci`plcnts6 (=) thc grcmtk`n à m l`rc aicxkbic imb`r lmrect, (2) g`ntrmgtk`n à thcwciamrc stmtc, c.d., thrùdh thc prkvmtkzmtk`n à rctkrclcnt pcnsk`ns, mnj (7)

jcl`drmphkg ghmndc, kn pmrtkguimr p`puimtk`n mdknd, whkgh kngrcmscs thc nccj a`rprkvmtc pcnsk`n knsurmngc. Thkic thc kngrcmsc kn aknmngkmi `pp`rtunktkcs lmy pr`vkjcncw ghmngcs t` dct ùt à p`vcrty, aknmngkmi cjugmtk`n ks pmrtkguimriy grugkmi a`r thc p``rt` dmkn mggcss t` aknmngkmi scrvkgcs mnj shkcij mdmknst mjvcrsc sh`ges (Rckancr mnjWghcih`wc 2?=?5 Rckancr 2??1b).

Aknmngkmi cjugmtk`n shùij pr`vkjc knjkvkjumis wkth thc en`wicjdc mnj sekiis t` bcg`lcqucstk`nknd mnj kna`rlcj g`nsulcrs thmt mrc mbic t` lmnmdc thckr `wn aknmngcs(Rckancr 2??1b5 Aknmngkmi Wcrvkgcs Muth`rkty =;;;). Kts d`mis mrc aknmngkmi en`wicjdc,aknmngkmi iktcrmgy, mnj aknmngkmi gmpmbkikty, whkgh shùij kngiujc thc en`wicjdc,unjcrstmnjknd, mnj s`gkmi g`lpctcngc a`r m grktkgmi cvmiumtk`n à aknmngkmi scrvkgcs.Wkngc p``r hùschìjs wh` gmnn`t smvc gmn `niy hcip thclscivcs by usknd grcjkt,aknmngkmi cjugmtk`n shùij a`gus `n thc pr`jugtkvc usc à grcjkt rmthcr thmn smvknds mnjknvcstlcnts (Rckancr mnj Wghcih`wc 2?=?). Zhc qucstk`n à thc en`wicjdc nccjcj a`raknmngkmi cjugmtk`n ks hkdhiy g`ntr`vcrskmi. Rcgcnt SW stujkcs sh`w thmt aknmngkmicjugmtk`n lmy amki t` klpr`vc thc qumikty à aknmngkmi jcgksk`n lmeknd (Mlbuchi,Bcrnhckl, mnj Iusmrjk 2?=:) `r icmj t` w`rsc jcgksk`ns by g`nsulcrs, bcgmusc ktsccls t` kngrcmsc g`nakjcngc wkthùt klpr`vknd mbkikty. ’Zhc scmrgh a`r caacgtkvcaknmngkmi iktcrmgy cjugmtk`n shùij bc rcpimgcj by m scmrgh a`r pìkgkcs l`rc g`njugkvct` d``j g`nsulcr aknmngkmi ̀ utg`lcs“ (Tkiiks 2??86 =;8).

Kn m br`mjcr scnsc, aknmngkmi cjugmtk`n mis` g`lprkscs cntrcprcncurshkp cjugmtk`n,sugh ms pr`vkjknd knjkvkjumis wkth thc en`wicjdc t` wrktc buskncss pimns mnj stmrt `rrun m buskncss. Wkngc thc scia-clpi`ylcnt rmtc kn Dcrlmny ks g`lpmrmtkvciy i`w, thcnccj a`r cntrcprcncurshkp cjugmtk`n ks hkdh.=:

3.2 Wtmtus à Aknmngkmi Cjugmtk`n

Aknmngkmi iktcrmgy hms bccn lcmsurcj ckthcr by mseknd rcsp`njcnts t` scia-msscss thckraknmngkmi s`phkstkgmtk`n, `r by tcstknd thcl `n jctmkicj mnj l`rc rcikmbic qucstk`ns `naknmngc (Fmppciik 2?=?5 @CGJ 2??3m). @atcn thcrc ks m substmntkmi lkslmtgh bctwccnscia-msscsscj mnj mgtumi en`wicjdc (Iusmrjk mnj Lktghcii 2?=:). M rcprcscntmtkvcsurvcy à knjkvkjumis kn 2??; sh`wcj thmt `niy 32% à thc Dcrlmn p`puimtk`n scia-msscsscj thckr aknmngkmi en`wicjdc ms d``j `r vcry d``j. L`rc thmn m qumrtcr à thcp`puimtk`n jkj n`t unjcrstmnj bmskg cg`n`lkg g`ngcpts, ncmriy thrcc-qumrtcrs hmj

=: Kn 2?=7, thc scia-clpi`ylcnt rmtc wms ==.2% kn Dcrlmny mnj =1.3% kn thc CS 24 (@CGJ 2?=3).

=3


18/28


pr`bicls unjcrstmnjknd g`nvcrsmtk`ns wkth aknmngkmi mjvks`rs, mnj ncmriy `nc-thkrj jkjn`t jmrc t` mse mppr`prkmtc qucstk`ns (G`ljkrcgt 2??;). Kn m sklkimr survcy g`njugtcjkn 2?=? `niy 7;% à thc Dcrlmn p`puimtk`n msscsscj thclscivcs t` bc wcii `r vcrywcii kna`rlcj mbùt aknmngkmi t`pkgs, 32% t` hmvc `niy s`lc kna`rlmtk`n, mnj 4% t` bcbmjiy kna`rlcj. @niy `nc-tcnth rcduimriy g`lpmrcj thc prkgcs à bmneknd pr`jugts,whkic l`rc thmn m qumrtcr ncvcr lmjc sugh g`lpmrks`ns (G`ljkrcgt 2?=?).

Ssknd jmtm ar`l thc smvknds mnj pcnsk`n knsurmngc survcy WMQC 2??;, mrcprcscntmtkvc Dcrlmn hùschìj pmnci, Bughcr-E`cncn mnj Iusmrjk (2?==) aùnj ml`jcrmtc icvci à aknmngkmi iktcrmgy, lcmsurcj by mnswcrs t` thrcc sklpic qucstk`ns `nunjcrstmnjknd kntcrcst rmtcs, knaimtk`n, mnj rkse mnj jkvcrskakgmtk`n. @a thc rcsp`njcnts,74% wcrc n`t mbic t` mnswcr mt icmst `nc à thc qucstk`ns. Zhc icvci à aknmngkmiiktcrmgy jcpcnjs `n mdc, dcnjcr, cjugmtk`n, imb`r lmrect stmtus, mnj rcskjcngc kn Cmstvcrsus Tcst Dcrlmny. Knjkvkjumis wkth hkdhcr cjugmtk`n icvcis wcrc sh`wn t` hmvchkdhcr en`wicjdc à bmskg aknmngkmi g`ngcpts thmn thc icss cjugmtcj, mnj aknmngkmiiktcrmgy wms pmrtkguimriy i`w ml`nd thc icss cjugmtcj, unclpi`ycj, mnj rctkrcjknjkvkjumis kn Cmst Dcrlmny. Knjkvkjumis wkth i`wcr aknmngkmi iktcrmgy wcrc aùnj t` bc

icss ikeciy t` pimn a`r rctkrclcnt mnj thcrca`rc icss ikeciy t` akii thc dmp kn rctkrclcntkng`lc.

Aknmngkmi iktcrmgy vmrkcs substmntkmiiy mgr`ss gùntrkcs, ms lcmsurcj by scnk`r buskncssicmjcrs‛ cvmiumtk`n à cg`n`lkg iktcrmgy ml`nd thc p`puimtk`n ar`l =;;3 t` 2??8.Dcrlmny hms mn mb`vc mvcrmdc aknmngkmi iktcrmgy sg`rc, but rmnes `niy 27rj ùt à 3:gùntrkcs (Fmppciik 2?=?). Zhc icvci à aknmngkmi iktcrmgy jcpcnjs `n cjugmtk`nmimghkcvclcnt (lcmsurcj by _KWM tcst sg`rcs mnj gìicdc mttcnjmngc), thc shmrc à thcurbmn p`puimtk`n, mnj thc cxkstcngc à lmnjmtcj smvknds kn thc a`rl à s`gkmi scgurktyg`ntrkbutk`ns. Knhmbktmnts à gùntrkcs wkth l`rc dcncrùs s`gkmi scgurkty systcls(sugh ms Dcrlmny kn thc pcrk`j knvcstkdmtcj) mrc dcncrmiiy icss iktcrmtc, g`nskstcnt wkththc hyp`thcsks thmt thc kngcntkvcs t` mgqukrc aknmngkmi iktcrmgy mrc rcimtcj t` thc mlùnt

à rcsùrgcs knvcstcj kn aknmngkmi lmrects. Mn `niknc survcy à mjuits kn =2 Cur`pcmn gùntrkcs kn 2?=7 aùnj thmt Dcrlmns hmjthc i`wcst icvcis à aknmngkmi cjugmtk`n. Zhc shmrc à rcsp`njcnts thmt rcp`rtcj t` hmvcncvcr rcgckvcj aknmngkmi cjugmtk`n wms 37% kn Dcrlmny mnj Wpmkn, aìi`wcj by 32% knthc Snktcj Ekndj`l. Ms lugh ms 48% Dcrlmns smkj thcy wmntcj aknmngkmi cjugmtk`nmt sgh`ì, but `niy =8% rcgckvcj kt (KND-JkBm 2?=7). H`wcvcr, thc rcsuits à thks stujymrc qucstk`nmbic, bcgmusc thc stujy rcikcs `n knjkvkjumis‛ scia-msscsslcnts à aknmngkmicjugmtk`n, whkgh ks n`t jcakncj mnj lmy bc pcrgckvcj jkaacrcntiy kn jkaacrcnt guiturmimnj cjugmtk`nmi cnvkr`nlcnts.

M l`rc jctmkicj survcy `n aknmngkmi iktcrmgy wms g`njugtcj kn 2?=?‗2?== by thc @CGJKntcrnmtk`nmi Nctw`re `n Aknmngkmi Cjugmtk`n kn =: gùntrkcs mgr`ss : g`ntkncnts,

kngiujknd Dcrlmny (Mtekns`n mnj Lcssy 2?=26 1). Kn n` gùntry gùij l`rc thmn 4?%à thc p`puimtk`n mnswcr mt icmst 1 ùt à 8 qucstk`ns `n aknmngkmi en`wicjdc. @niy22% à thc Dcrlmn rcsp`njcnts hmj m hùschìj bujdct mnj ;1% knjkgmtcj thcy hmjn`t b`rr`wcj t` lmec cnjs lcct (Mtekns`n mnj Lcssy 2?=26 8). H`wcvcr, thc `vcrmiiknjkgmt`r à aknmngkmi iktcrmgy ks mb`vc thc gr`ss-gùntry mvcrmdc (Mtekns`n mnj Lcssy2?=26 =?). Mii kn mii, thc cvkjcngc sh`ws m i`w icvci à aknmngkmi iktcrmgy kn Dcrlmny,whkgh ks mis` g`ngcntrmtcj ml`nd spcgkakg p`puimtk`n subdrùps. H`wcvcr, thcscrcsuits hmvc t` bc kntcrprctcj wkth gmutk`n bcgmusc aknmngkmi iktcrmgy lmy bc lcmsurcjwkth crr`r, jcpcnjknd `n thc wmy qucstk`ns mrc w`rjcj (Iusmrjk mnj Lktghcii 2?=:).

Mis` thc icvci à cjugmtk`n `n cntrcprcncurshkp kn Dcrlmny sccls t` bc i`w g`lpmrcjt` `thcr jcvci`pcj gùntrkcs. Mithùdh thc acjcrmi d`vcrnlcnt àacrs supp`rt a`r

cntrcprcncurshkp cjugmtk`n mt unkvcrsktkcs mnj a`r rcscmrghcrs mnj stujcnts t` stmrt

=1


19/28


buskncsscs, tcmghknd tcghnkqucs nccj t` bc klpr`vcj. ’A`r cxmlpic, kn cmstcrnDcrlmn unkvcrsktkcs survcycj by thc @CGJ, buskncss pimn wrktknd ks thc l`st g`ll`nicmrnknd t`ì, whkic l`rc cxpcrkcngc-bmscj tcmghknd lcth`js‚sugh ms vkskts t`g`lpmnkcs, usc à s`gkmi lcjkm, scia-icmrnknd cxcrgkscs, jcvci`pknd pr`t`typcs, mnjicmrnknd mbùt cntcrprksc amkiurc‚mrc n`t s` arcqucnt.“ (@CGJ 2?=:6 28).

3.7 Aknmngkmi Cjugmtk`n kn Wgh`ìs

Wuppikcrs à aknmngkmi scrvkgcs hmvc lmrect p`wcr mnj kna`rlmtk`nmi mjvmntmdcs `vcrg`nsulcrs, a`r wh`l aknmngkmi pr`jugts mrc g`lpicx mnj jkaakguit t` unjcrstmnj. Zhcsclmrect amkiurcs pr`vkjc m rmtk`nmic a`r mgtk`n by d`vcrnlcnts t` klpr`vc aknmngkmicjugmtk`n, whkgh shùij stmrt mt sgh`ì `r ms cmriy ms p`sskbic kn ikac (@CGJ 2??3b).Wgh`ì tcmghcrs hmvc bccn kjcntkakcj ms g`rc dmtceccpcrs à g`nsulcr cjugmtk`n kns`gkcty. Ml`nd akvc sùrgcs à g`nsulcr cjugmtk`n‚amlkiy mnj arkcnjs, sgh`ì, mjuitcjugmtk`n, g`nsulcr `rdmnkzmtk`ns, mnj ZQ pr`drmls‚sgh`ìs hmvc bccn aùnj t` bcthc l`st caacgtkvc mnj mggcsskbic a`rl à kntcrvcntk`n (Rckancr 2??1m).

W` amr, thc tcmghknd gurrkguim jcvci`pcj by thc lknkstrkcs à thc acjcrmi stmtcs j` n`tcxpikgktiy stkpuimtc thc tcmghknd à aknmngkmi cjugmtk`n. Kn prmgtkgc, tcmghcrs pmrtiykngiujc mspcgts à aknmngkmi cjugmtk`n kn buskncss mjlknkstrmtk`n `r cg`n`lkgs gimsscs,whkgh, h`wcvcr, mrc l`stiy n`t lmnjmt`ry a`r stujcnts mnj mppr`prkmtc tcmghkndlmtcrkmis mrc imgeknd (Rckancr 2??1m). Kn 2?=7, thc G`nacrcngc à Guiturmi Lknkstcrsruicj thmt g`nsulcr cjugmtk`n hms t` bc kntcdrmtcj mnj cna`rgcj kn sgh`ìs. Zhkskngiujcs aknmngkmi cjugmtk`n mbùt g`nsgkùs usc à l`ncy, aknmngkmi pr`jugts, aknmngkmiknvcstlcnts, typcs à i`mns, prkvmtc knsurmngc, rctkrclcnt pr`vksk`n, lmrectknd, mnjg`nsulptk`n. Z` mghkcvc thks d`mi, sgh`ìs lmy g``pcrmtc wkth cxtcrnmi pmrtncrs sughms pubikg pcjmd`dkgmi knstktutcs, g`nsulcr lknkstrkcs mnj mss`gkmtk`ns, unkvcrsktkcs,n`n-d`vcrnlcntmi `rdmnkzmtk`ns, knjustry mss`gkmtk`ns, mnj cntcrprkscs. Zhcrcby, thc

prkngkpic à ncutrmikty hms t` bc `bcycj. G`nsulcr cjugmtk`n hms t` bc kntcdrmtcj knt``nc `r scvcrmi sgh`ì subfcgts mnj hms t` bc tmki`rcj t` mdc mnj tmrdct drùps (ELE2?=7). Zhcsc ruics hmvc stmrtcj t` bc klpiclcntcj wkth vmrkùs mppr`mghcs mt thcicvci à thc acjcrmi stmtcs. Thkic thcy mrc mn klp`rtmnt stcp t` klpr`vknd aknmngkmicjugmtk`n kn sgh`ìs, thcy mrc bmscj `n m lmrect-`rkcntcj g`ngcpt à g`nsulcrcjugmtk`n, whkgh j`cs n`t tmec knt` mggùnt thmt pupkis hmvc t` icmrn t` grktkgmiiy rcaicgtthc cxkstknd cg`n`lkg gkrgulstmngcs. L`rc`vcr, thcy `pcn thc j``r t` aknmngkmig`lpmnkcs t` g``pcrmtc wkth sgh`ìs wkth thc g`llcrgkmi mkl t` dmkn pupkis ms auturcgust`lcrs.

3.: _r`vkjcrs à Aknmngkmi Cjugmtk`n

Aknmngkmi cjugmtk`n ks pr`vkjcj by n`n-pràkt `rdmnkzmtk`ns ms wcii ms thc aknmngkmiscrvkgcs knjustry. G`nsulcr mss`gkmtk`ns cvmiumtc aknmngkmi cjugmtk`n lmtcrkmi wkthhcip by knjcpcnjcnt sgkcntksts. Zhc rcsuits mrc pubikshcj `n thc Lmtcrkmie`lpmsswcbsktc, aknmngcj by thc Acjcrmi Lknkstry à Mdrkguiturc, A``j mnj G`nsulcr_r`tcgtk`n, whkgh gmn bc uscj ms m pmth aknjcr thrùdh thc vmrkùs aknmngkmi sgh`ìpr`fcgts kn Dcrlmny (Qcrbrmughcrzcntrmic Bunjcsvcrbmnj 2?=:).

Zhc Dcrlmn d`vcrnlcnt stmtut`ry pcnsk`n knsurmngc sghclc àacrs mjuit cjugmtk`ngùrscs `n pubikg pcnsk`n systcls, but amkis t` pr`vkjc nccjs-bmscj g`nsulcrcjugmtk`n. Qmrkùs wciamrc mnj g`nsulcr mjvkgc `rdmnkzmtk`ns cndmdc kn aknmngkmicjugmtk`n pr`drmls t` prcvcnt `vcr-knjcbtcjncss, h`wcvcr thcy mrc grktkgmi à grcjkttmec-up, bcknd bmscj `n thc phki`s`phy à smvknds. Zhc n`n-pràkt knstktutc a`r aknmngkmi

scrvkgcs, kaa, pr`vkjcs sgh`ì pr`fcgts whcrc g`nsulcrs gmn icmrn t` kjcntkay mnj lcct

=4


20/28


thckr aknmngkmi nccjs mnj t` bc grktkgmi à thc lmrect a`r aknmngkmi scrvkgcs. M bmskgprkngkpic ks thmt knstcmj à bmnecrs cntcrknd thc sgh`ìs, stujcnts shùij cntcr thcbmnes t` rchcmrsc thc mjvkgc scssk`ns thcy lkdht cngùntcr imtcr kn ikac mnj icmrn t`p`sc prmgtkgmi qucstk`ns (Rckancr mnj Wghcih`wc 2?=?). Zhc kaa aknmngkmi cjugmtk`n

sgh`ì pr`fcgts

=3

hmvc bccn mgen`wicjdcj ms suggcssaui pr`fcgts kn Dcrlmny by thc@CGJ mnj cvmiumtcj ms `nc à thc bcst g`nsulcr cjugmtk`n pr`fcgts by thcLmtcrkmie`lpmss à thc Dcrlmn Acjcrmtk`n à G`nsulcr Mss`gkmtk`ns.

Zhc aknmngkmi scrvkgc knjustry g`ntrkbutcs m wkjc rmndc à kna`rlmtk`n mnj tcmghkndlmtcrkmis a`r aknmngkmi cjugmtk`n. Kts l`tkvmtk`n ks t` g`lpiy wkth thc @CGJ‛s g`rp`rmtcs`gkmi rcsp`nskbkikty prkngkpics, kn whkgh g`nsulcr pr`tcgtk`n mnj cjugmtk`n pimy mnklp`rtmnt pmrt. Zhc a`gus ks `n cxpimknknd pr`jugts mnj thckr usmdc. W`lc lmtcrkmi ksbmscj `n h`lc cg`n`lkgs mnj clphmskzcs bujdctknd mnj smvknds, ikec thc pr`drml àthc Dcrlmn Wmvknds Bmnes Mss`gkmtk`n. @thcrs, ikec prkvmtc g`llcrgkmi bmnespr`l`tc thc mppr`mgh à cg`n`lkg cjugmtk`n. Jcutsghc Bmne àacrs prmgtkgmicg`n`lkg mnj aknmngkmi kna`rlmtk`n t` sgh`ìs thrùdh kts aknmngkmi iktcrmgy knktkmtkvc mnjclpi`ycc cndmdclcnt, whcrc clpi`yccs pr`vkjc kna`rlmtk`n mbùt knvcstlcntpr`jugts mnj rctkrclcnt aunjs, thc di`bmi aknmngkmi systcl, mnj thc gmuscs à thcrcgcnt grksks (Jcutsghc Bmne 2?=:). ’Ly Aknmngc G`mgh,“ m aknmngkmi cjugmtk`n sgh`ìpr`fcgt aknmngcj by 7? cntcrprkscs, kngiujknd imrdc aknmngkmi scrvkgcs g`lpmnkcs, hmsmircmjy lmjc 7,3?? sgh`ì vkskts kn icss thmn : ycmrs.

Mircmjy, kn 2??1, 88% à =3-ycmr-ìj ghkijrcn kn Dcrlmny wcnt t` sgh`ìs uskndtcmghknd g`ntcnt knaiucngcj by g`llcrgkmi cntcrprkscs. Mii acjcrmi stmtcs à Dcrlmnywcig`lc prkvmtc suppikcrs t` thckr sgh`ìs. @a thc imrdcst Dcrlmn g`lpmnkcs, =3pr`vkjc tcmghknd lmtcrkmis bcy`nj cg`n`lkg t`pkgs. Thkic thc nulbcr à arcc `niknclmtcrkmis a`r cjugmtk`n kn Dcrlmny hms rcmghcj 882,3:? (Qcrbmnj Bkijundslcjkcn2?=:), thc t`tmi nulbcr à aknmngkmi cjugmtk`n pr`drmls ks unen`wn. Rcduimrcvmiumtk`n thrùdh Lmtcrkmie`lpmss sh`ws thmt lmny à thcsc àacrs mrc bkmscj

kjcì`dkgmiiy `r cvcn g`ntmkn mjvcrtksknd. Kn s`lc gmscs, sgh`ì lmtcrkmis wcrc uscjjkrcgtiy t` pr`l`tc pr`vkjcrs mnj thckr buskncss l`jcis. Aknmngkmi cjugmtk`n knktkmtkvcsby aknmngkmi scrvkgc pr`vkjcrs kn sgh`ìs hmvc bccn grktkgkzcj ms m a`rl à i`bbyknd thmtshùij n`t bc mggcptcj kn sgh`ìs. Wgh`ìs shùij bc arcc à mjvcrtksknd mnj knaiucngcà pr`vkjcrs. Aknmngkmi cjugmtk`n knktkmtkvcs lmy `niy bc sylbìkg lcmsurcs t` mv`kj`thcr a`rls à rcduimtk`n (Zkaac mnj Gicrg-Rcnmuj 2?=:6 28). Zhckr p`sktkvc klpmgts a`rstrcndthcnknd g`nsulcrs mrc stkii t` bc sccn.

1. G@NGISWK@NW MNJ _@IKG[ RCG@LLCNJMZK@NW

Zhc bmne-bmscj aknmngkmi systcl à Dcrlmny pr`vkjcs m hkdh icvci à aknmngkmi

kngiusk`n, lcmsurcj by mvcrmdc bmne ùtrcmgh mnj usc à aknmngkmi scrvkgcs. H`wcvcr,thc l`st vuincrmbic, sugh ms i`w-kng`lc, unclpi`ycj, `r `vcr-knjcbtcj knjkvkjumiswh` nccj i`mns `r bmne mggùnts t` stmrt m buskncss mnj pmrtkgkpmtc kn cg`n`lkg ikac,tcnj t` bc cxgiujcj, mnj slmii cntcrprkscs mrc àtcn grcjkt g`nstrmkncj. Zhc qumikty àaknmngkmi kngiusk`n ks klpmkrcj by m i`w icvci à aknmngkmi iktcrmgy `vcrmii, whkgh ks mis`g`ngcntrmtcj ml`nd spcgkakg p`puimtk`n subdrùps sugh ms thc unclpi`ycj mnj icsscjugmtcj. Mt thc smlc tklc, thc nccj a`r aknmngkmi cjugmtk`n hms dr`wn juc t` thcjcgiknc à thc Dcrlmn wciamrc stmtc.

Ecy icss`ns gmn bc icmrncj ar`l thc Dcrlmn cxpcrkcngcs, pmrtkguimriy a`r icss-jcvci`pcj gùntrkcs. Zhc Dcrlmn bmneknd scgt`r ks g`lpmrmtkvciy str`ndiy

=3 ’Wghùicrbmneknd“ (’pupkis‛ bmneknd“) mnj ’Tksscn rcghnct skgh“ (’en`wicjdc gùnts“).

=8


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jkaacrcntkmtcj, wkth aùr bkd bmnes hìjknd m lmrect shmrc à `niy 27% mnj rctmkilmrects bcknd j`lknmtcj by stmtc-`wncj smvknds bmnes. M g`llunkty-bmscj systclà i`gmi smvknds mnj g``pcrmtkvc bmnes, whkgh cvìvcj l`rc thmn 2?? ycmrs md`, hmsbccn suggcssaui kn mgguluimtknd smvknds mnj ghmnnciknd thcl t` pr`jugtkvcknvcstlcnts by knjkvkjumis mnj WLCs. Zhc scgt`r ks bmscj `n rcimtk`nshkp icnjknd `rthc ’hùscbmne“ l`jci, whcrc sàt kna`rlmtk`n ks dmthcrcj thrùdh jkrcgt mnj rcpcmtcjg`ntmgt wkth thc smlc b`rr`wcr. D`vcrnlcnt kntcrvcntk`ns hmvc pr`vcn suggcssaui kng`rrcgtknd lmrect amkiurc. Zhc g`lpmrmtkvciy hkdh icvci à aknmngkmi kngiusk`n gmn bcmttrkbutcj t` lunkgkpmi pubikg smvknds bmnes, pubikg pr`l`tk`nmi bmnes, mnj dumrmntccbmnes usknd thc ’hùscbmne“ l`jci, aknmngkmi g`nsulcr pr`tcgtk`n, mnj grcjkt rcp`rtkndrcduimtk`ns mnj knstktutk`ns. _r`drmls knvìvknd lkgràknmngc knstktutk`ns wkthùt mbmneknd ikgcnsc hmvc bccn st`ppcj. Zhc usc à `niknc mnj l`bkic bmneknd ksg`lpmrmtkvciy i`w bcgmusc à scgurkty g`ngcrns mnj shùij n`t bc a`stcrcj bcgmusc àdr`wknd g`nsulcr i`sscs juc t` gybcrgrklc.

Z` klpr`vc aknmngkmi kngiusk`n wkth thc mkl à rcsp`nskbic aknmngc, thc aìi`wkndlcmsurcs mrc mjvksmbic6

(=) Zhc thrcc-pkiimr systcl à unkvcrsmi bmnes mnj thc systcl à spcgkmikzcjpr`l`tk`nmi mnj dumrmntcc bmnes shùij bc prcscrvcj. I`gmi smvknds bmnessubfcgt t` m pubikg lkssk`n mnj rcdk`nmi prkngkpic shùij rclmkn kn pubikg hmnjsbcgmusc thcy cnsurc m hkdh bmne ùtrcmgh, usmdc à jcp`skts mnj i`mns, ms wciims bmneknd drùp g`lpctktk`n. Zhcy g`ntrkbutc t` cqumi ikvknd stmnjmrjs mgr`ssrcdk`ns mnj hmvc stmbkikzcj thc Dcrlmn cg`n`ly jurknd thc grksks. Bmnekndrcduimtk`n mnj supcrvksk`n shùij tmec mggùnt à thc jkvcrskty à bmne buskncssl`jcis mnj thc rìc à i`gmi bmnes t` klpr`vc grcjkt mggcss by rcimtk`nshkpicnjknd. _r`l`tk`nmi bmnes mnj dumrmntcc bmnes lmy bc kngrcmskndiy uscj t`cmsc mggcss t` aknmngc a`r stmrt-ups mnj slmii cntcrprkscs.

(2) Wpcgkmi lkgràknmngc knstktutk`ns tmrdctknd unbmnecj knjkvkjumis mrc rcnjcrcjunncgcssmry ka mggcss t` bmneknd scrvkgcs a`r mii ks rcmghcj l`rc jkrcgtiy by`thcr lcmsurcs (scc kn pmrtkguimr (7)). Zhcy lmy cvcn bc hmrlaui by kngrcmskndthc `vcr-knjcbtcjncss à thc p``r.

(7) Zhc rkdht t` m bmskg bmne mggùnt stkii hms t` bc klpiclcntcj. Kt shùij bcgùpicj wkth thc rkdht t` `vcrjrmat grcjkt mnj pr`tcgtk`n ar`l mttmghlcnt à mlknklul s`gk`guiturmi subskstcngc. D`vcrnlcnts gùij pr`vkjc a`r maa`rjmbicbmne mggùnts by dkvknd kngcntkvcs t` bmnes t` àacr sugh amgkiktkcs. M grcjkt ikncknsurcj `r dumrmntccj by m pubikg cntkty gùij ciklknmtc pmyjmy `r l`bkic ph`nci`mns.

(:) Z̀ pr`tcgt g`nsulcrs ar`l amisc grcjkt sg`rknds by prkvmtc grcjkt burcmus,

knjcpcnjcnt `r pubikg grcjkt burcmus shùij bc cstmbikshcj.(3) Aknmngkmi cjugmtk`n shùij bc lmnjmt`ry mt sgh`ìs. Kt shùij a`gus `n thc

pr`jugtkvc usc à grcjkt mnj pr`vkjc thc g`lpctcngc a`r m grktkgmi cvmiumtk`n àaknmngkmi scrvkgcs rmthcr thmn pr`jugt en`wicjdc. Z` cnsurc thc hkdh qumikty àaknmngkmi cjugmtk`n pr`drmls wkthùt knaiucngc ar`l thc aknmngkmi scrvkgcsknjustry, cxtcrnmi cvmiumtk`ns by knjcpcnjcnt sgkcntksts hmvc t` bc strcndthcncj.H`wcvcr, aknmngkmi cjugmtk`n ks n` pmnmgcm mnj shùij n`t bc uscj ms msubstktutc a`r thc rcduimtk`n à aknmngkmi scrvkgc pr`vkjcrs.

(1) Z̀ pr`l`tc cntrcprcncurshkp mnj mggcss t` aunjknd a`r stmrt-ups mnj knn`vmtkvcWLCs, cxpcrkcngcj-bmscj icmrnknd lcth`js shùij bc mj`ptcj kncntrcprcncurshkp cjugmtk`n, mnj thc vcnturc gmpktmi lmrect nccjs t` bc aurthcr

jcvci`pcj.

=;


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RCACRCNGCW

Mlbuchi, W., B. J. Bcrnhckl, mnj M. Iusmrjk. 2?=:. Aknmngkmi Cjugmtk`n, AknmngkmiG`lpctcngc, mnj G`nsulcr Tciamrc. NBCR T`reknd _mpcr 2?1=8.

Gmlbrkjdc, LM6 Nmtk`nmi Burcmu à Cg`n`lkg Rcscmrgh. MlkjžkĄ, D., M. Lmssmrm, mnj M. Lkmiù. 2?=:. Msscssknd Gùntrkcs‛ Aknmngkmi Kngiusk̀ n

Wtmnjknd ‗ M Ncw G`lp`sktc Knjcx. KLA T`reknd _mpcrs =:/71. Tmshkndt`n,JG6 Kntcrnmtk`nmi L`nctmry Aunj.

Mtekns`n, M., mnj A. Lcssy. 2?=2. Lcmsurknd Aknmngkmi Iktcrmgy6 Rcsuits à thc @CGJ /Kntcrnmtk`nmi Nctw`re ̀ n Aknmngkmi Cjugmtk`n (KNAC) _ki`t Wtujy. @CGJT`reknd _mpcrs `n Aknmngc, Knsurmngc mnj _rkvmtc _cnsk`ns N`. =3. _mrks6@CGJ _ubikshknd.

Bmkn & G`lpmny. 2?=7. Gust`lcr I`ymity kn Rctmki Bmneknd6 Di`bmi Cjktk`n 2?=7. Bmkn& G`lpmny.

Bmncrfcc, M., C. Juai`, mnj R. H`rnbcge. 2?=:. (Lcmsurcj) _ràkt ks N`t Tciamrc6Cvkjcngc ar`l mn Cxpcrklcnt `n Bunjiknd Lkgr`grcjkt mnj Knsurmngc. NBCRT`reknd _mpcr 2?:44. Gmlbrkjdc, LM6 Nmtk`nmi Burcmu à Cg`n`lkgRcscmrgh.

Bcge, Z., M. Jclkrdug-Eunt, mnj L. W. Lmrtkncz _crkm. 2??4. Rcmghknd @ut6 Mggcss t`mnj Ssc à Bmneknd Wcrvkgcs mgr`ss Gùntrkcs. Fùrnmi à Aknmngkmi Cg`n`lkgs 836 27:‗211.

Bcnjkd, L., L. Sntcrbcrd, mnj B. Wmrp`nd. 2?=2. @vcrvkcw à thc Lkgr`grcjkt Wcgt`r knthc Cur`pcmn Snk`n 2?=?-==. Brusscis6 Cur`pcmn Lkgràknmngc Nctw`re.

Bcnjkd, L., L. Sntcrbcrd, mnj B. Wmrp`nd. 2?=:. @vcrvkcw à thc Lkgr`grcjkt Wcgt`r kn

thc Cur`pcmn Snk`n 2?=2-=7. Brusscis6 Cur`pcmn Lkgràknmngc Nctw`re.BLV/GDM_/KAG. Dcrlmn Acjcrmi Lknkstry a`r Cg`n`lkg G``pcrmtk̀ n mnj Jcvci`plcnt

(BLV), G`nsuitmtkvc Drùp t` Msskst thc _``r (GDM_), Kntcrnmtk`nmi AknmngcG`rp`rmtk`n (KAG) 2?==. Mjvmngknd Rcsp`nskbic Aknmngc a`r DrcmtcrJcvci`plcnt Klpmgt 2?==. G`nsuitmtk`n Jrmat. Fmnumry 24, 2?==. Tmshkndt`n,JG6 Dcrlmn Acjcrmi Lknkstry a`r Cg`n`lkg G``pcrmtk`n mnj Jcvci`plcnt(BLV), KAG, mnj GDM_.

BLV/DKV/KAG. Dcrlmn Acjcrmi Lknkstry a`r Cg`n`lkg G``pcrmtk`n mnj Jcvci`plcnt(BLV), Jcutghc Dcsciisghmat aùr Kntcrnmtk`nmic Vusmllcnmrbckt (DKV),Kntcrnmtk`nmi Aknmngc G`rp`rmtk`n (KAG) 2?=7. _r`drcss kn Rcsp`nskbicAknmngkmi Kngiusk`n6 Di`bmi Lmppknd Rcp`rt mnj Wcicgtcj Gmsc Wtujkcs.

Tmshkndt`n, J.G6 Dcrlmn Acjcrmi Lknkstry a`r Cg`n`lkg G``pcrmtk`n mnjJcvci`plcnt (BLV), KAG, mnj GDM_, Kntcrnmtk`nmi Aknmngc G``pcrmtk`n.

B``t, M. T. M. 2???. Rcimtk`nshkp Bmneknd6 Thmt J` Tc En`w0 Fùrnmi à AknmngkmiKntcrlcjkmtk`n ;6 4‗23.

Brcsicr, N., K. DrñÐi, mnj M. Zurncr. 2??4. Zhc Rìc à Dcrlmn Wmvknds Bmnes kn_rcvcntknd Aknmngkmi Cxgiusk`n. Kn Ncw Ar`ntkcrs kn Bmneknd Wcrvkgcs, cjktcj byI. Mnjcri`nk, L. J. Brmdm, mnj C. L. Gmriuggk`. Bcrikn6 Wprkndcr. 2:4‗21;.

Brujcr, F., J. Ncubcrdcr, mnj W. Rêthec-Jñppncr. 2?==. Aknmngkmi G`nstrmknts àCthnkg Cntrcprcncurshkp6 Cvkjcngc ar`l Dcrlmny. Kntcrnmtk`nmi Fùrnmi ̀ aCntrcprcncurkmi Bchmvkùr mnj Rcscmrgh =46 2;1‗7=7.

2?


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Bughcr-E`cncn, Z., mnj M. Iusmrjk. 2?==. Aknmngkmi Iktcrmgy mnj Rctkrclcnt _imnnkndkn Dcrlmny. Fùrnmi à _cnsk`n Cg`n`lkgs mnj Aknmngc =?6 313‗38:.

Bunjcserklknmimlt. 2?=7. Gybcrgrklc. Bunjcsimdcbkij 2?=7. Tkcsbmjcn, Dcrlmny6Bunjcserklknmimlt.

Gcntcr a`r Cur`pcmn _ìkgy Wtujkcs-Cur`pcmn Grcjkt Rcscmrgh Knstktutc Brusscis(GC_W-CGRK). 2?=7. Z`wmrjs Bcttcr Ssc à Grcjkt Rcp`rtknd kn Cur`pc. GC_W-CGRK Zmse A`rgc Rcp`rt . Brusscis6 GC_W-CGRK.

Gcntrc a`r Wtrmtcdy mnj Cvmiumtk`n Wcrvkgcs. 2?=?. Wtujy `n thc G`sts mnj Bcncakts à_ìkgy Mgtk`ns kn thc Akcij à cnsurknd mggcss t` m Bmskg Bmne Mggùnt ‗ AknmiRcp`rt . Wcvcn`mes, SE6 Gcntrc a`r Wtrmtcdy mnj Cvmiumtk`n Wcrvkgcs.

Gcntrc a`r Wtrmtcdy mnj Cvmiumtk`n Wcrvkgcs. 2?=2. Cvmiumtk`n ̀ a Lclbcr Wtmtc_ìkgkcs t` Amgkiktmtc Mggcss t` Aknmngc a`r WLCs. Wcvcn`mes, SE6 Gcntrc a`rWtrmtcdy mnj Cvmiumtk`n Wcrvkgcs.

G`ljkrcgt. 2??;. Eunjcn-L`tkvc 2??; - Zmbuthclm Dcij6 Cknstciiundcn, Qcrhmitcn

unj Tksscn jcr Jcutsghcn. ]ukgeb`rn, Dcrlmny6 G`ljkrcgt.G`ljkrcgt. 2?=?. Eunjcn-L`tkvc 2?=?6 Dcikcbt, mbcr vcrnmghiêsskdt ‗ jkc Jcutsghcn

unj khrc Cknstciiund zu Dcij unj Aknmnzcn’. ]ukgeb`rn, Dcrlmny6 G`ljkrcgt.

G`lsg`rc. 2?==. L`bkic Bmneknd6 :? _r`zcnt Tmghstul untcr Wlmrtph`nc-Nutzcrn knCur`pm. http6//www.g`lsg`rc.g`l/dcr/Knskdhts/_rcss-Rcicmscs/2?==/3/Cur`pc-Wccs-:?-_crgcnt-Dr`wth-kn-L`bkic-Bmneknd-Zhrùdh-Wlmrtph`ncs (mggcsscj=8 N`vclbcr 2?=:).

G`nrmj, M., J. Ncubcrdcr, mnj L. Wghnckjcr-RckÐkd. 2??;. Dc`drmphkg mnjJcl`drmphkg Bmne @utrcmgh6 Cvkjcngc ar`l Dcrlmny‛s Zhrcc-_kiimr BmnekndWystcl. Grcjkt mnj Gmpktmi Lmrects (Ercjkt unj Empktmi) :26 744‗:==.

G`nrmj, M., J. Ncubcrdcr, mnj I. Zrkd` Dmlmrrm. 2?=:. Zhc Klpmgt à Rcdk`nmiCg`n`lkg G`njktk`ns `n thc Caakgkcngy à Wmvknds Bmnes kn thc Ikdht àJcl`drmphkg Ghmndc. Grcjkt mnj Gmpktmi Lmrects :46 377‗34?.

Grëjkt Mdrkgìc. 2?=:. G`nsulcr Grcjkt Lmrect kn Cur`pc. 2?=7 @vcrvkcw. Grëjkt Mdrkgìc G`nsulcr Aknmngc. https6//www.gm-g`nsulcraknmngc.jc/ucbcr-uns/prcssc-metuciics.htli (mggcsscj 2? @gt`bcr 2?=:).

JB Rcscmrgh. 2?=2. Lkgràknmngc kn Cvìutk`n. Mn Knjustry bctwccn Grksks mnj Mjvmngclcnt. JB Rcscmrgh Gurrcnt Kssucs Di`bmi Aknmngkmi Lmrects.Armneaurt, Dcrlmny6 Jcutsghc Bmne.

Jcdrysc, H., L. Ekl, mnj W. @ndcnm. 2??;. Lkgr`cg`n`lctrkgs à Bmneknd . @xa`rj6

@xa`rj Snkvcrskty _rcss.Jcutsghc Bmne. 2?=:. Cg`n`lkgs mnj Aknmngc Ikvc kn Wgh`ì!

https6//www.jb.g`l/gr/cn/g`ngrctc-aknmngkmi-iktcrmgy-knktkmtkvc.htl (mggcsscj =2Wcptclbcr 2?=:).

Jcutsghc Bunjcsbmne. 2?=7. Bmnestciicnstmtkstke 2?=7, Armneaurt ml Lmkn.https6//www.bunjcsbmne.jc/Rcjmetk`n/JC/J`wni`mjs/Qcr`caacntikghundcn/Bcrk ghtPWtujkc/bmnestciicnstmtkstkeP2?=7.pja(mggcsscj 2? Lmy 2?=3)

‚‚‚. 2?=:m. Bmnecnstmtkstke Fuik 2?=:, Wtmtkstksghcs Bckhcat = zul L`nmtsbcrkght.Armneaurt ml Lmkn.http6//www.bunjcsbmne.jc/Rcjmetk`n/JC/J`wni`mjs/Qcr`caacntikghundcn/Wtmtks

tksghcPBckhcatcP=/2?=:/2?=:P?4Pbmnecnstmtkstke.pja (mggcsscj 2? Lmy 2?=3)

2=

http://www.comscore.com/ger/Insights/Press-Releases/2011/5/Europe-Sees-40-Percent-Growth-in-Mobile-Banking-Through-Smartphoneshttp://www.comscore.com/ger/Insights/Press-Releases/2011/5/Europe-Sees-40-Percent-Growth-in-Mobile-Banking-Through-Smartphoneshttps://www.ca-consumerfinance.de/ueber-uns/presse-aktuelles.htmlhttps://www.ca-consumerfinance.de/ueber-uns/presse-aktuelles.htmlhttps://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Bericht_Studie/bankstellenstatistik_2013.pdfhttps://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Bericht_Studie/bankstellenstatistik_2013.pdfhttp://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Statistische_Beihefte_1/2014/2014_07_bankenstatistik.pdfhttp://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Statistische_Beihefte_1/2014/2014_07_bankenstatistik.pdfhttp://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Statistische_Beihefte_1/2014/2014_07_bankenstatistik.pdfhttp://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Statistische_Beihefte_1/2014/2014_07_bankenstatistik.pdfhttps://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Bericht_Studie/bankstellenstatistik_2013.pdfhttps://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Bericht_Studie/bankstellenstatistik_2013.pdfhttps://www.ca-consumerfinance.de/ueber-uns/presse-aktuelles.htmlhttps://www.ca-consumerfinance.de/ueber-uns/presse-aktuelles.htmlhttp://www.comscore.com/ger/Insights/Press-Releases/2011/5/Europe-Sees-40-Percent-Growth-in-Mobile-Banking-Through-Smartphoneshttp://www.comscore.com/ger/Insights/Press-Releases/2011/5/Europe-Sees-40-Percent-Growth-in-Mobile-Banking-Through-Smartphones


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‚‚‚. 2?=:b. Vmhiundsvcrechrs- unj Tcrtpmpkcrmbwkgeiundsstmtkstkecn knJcutsghimnj 2??;-2?=7. Fuik 2?=:. Armneaurt ml Lmkn.https6//www.bunjcsbmne.jc/Rcjmetk`n/JC/J`wni`mjs/Wtmtkstkecn/DcijPSnjPEmpktmilmcretc/Vmhiundsvcrechr/zvsPjmtcn.pja (mggcsscj 2? Lmy 2?=3)

Jcutsghcs Lkeràknmnz Knstktut (JLK). 2?=7m. Meercjktkcrunds`rjnund jcs JLK Jcutsghcs Lkeràknmnz Knstktut c.Q. Amssund 7.?. v`l ?=.?4.2?=7. JcutsghcsLkeràknmnz Knstktut JLK c.Q.@aacnbmgh/Lmkn.

‚‚‚. 2?=7b. Lkeràknmnzkcrund kn Jcutsghimnj. Jms e``pcrmtkvc L`jcii. JcutsghcsLkeràknmnz Knstktut JLK c.Q. @aacnbmgh/Lmkn.

‚‚‚. 2?=:. Lmretùbcrskght. Lkerèrcjktc kn Jcutsghimnj . Jcutsghcs LkeràknmnzKnstktut JLK c.Q. @aacnbmgh/Lmkn.

Jcutsghcr Wpmremsscn- unj Dkr`vcrbmnj (JWDQ). 2?=7m. Metuciicr Wtmnjpunet.Kna`rlmtk`ncn mus jcr Wpmremsscn-Aknmnzdruppc 2?=7/?3 , JcutsghcrWpmremsscn- unj Dkr`vcrbmnj Bcrikn.

‚‚‚. 2?=7b. Dcsghêatszmhicn Vmhicn & Ametcn 2?=7. Jcutsghcr Wpmremsscn- unjDkr`vcrbmnj Bcrikn.http6//www.jsdv.jc/Pj`wni`mjPdmiicry/_ubikemtk`ncn/JWDQPDcsghmcatszmhicn P2?=7PJC.pja (mggcsscj 2; Wcptclbcr 2?=:).

Cg`n`lkst . 2?=2. Dcrlmny‛s Bmneknd Wystcl. @ij-amshk`ncj but kn Amvùr. =?N`vclbcr.

Cisms, R., mnj F. _. Ermhncn. =;;8. Ks Rcimtk`nshkp Icnjknd Wpcgkmi0 Cvkjcngc ar`lGrcjkt-akic Jmtm kn Dcrlmny. Fùrnmi à Bmneknd mnj Aknmngc 226 =287‗=7=1.

Crtkndcr, W. mnj I. jc im L`ttc. 2?=7. Ickh‘ lkr wms! Hmnjcisbimtt. =: Lmrgh.http6//www.hmnjcisbimtt.g`l/untcrnchlcn/bmnecn/`niknc-ercjktpimtta`rlcn-ickh-

lkr-wms-scktc-mii/4;2721:-mii.htli (mggcsscj 2? N`vclbcr 2?=:).CSR-ICX. 2?=:. Jkrcgtkvc 2?=:/;2/CS à thc Cur`pcmn _mrikmlcnt mnj à thc Gùngki

à 27 Fuiy 2?=: `n thc G`lpmrmbkikty à Accs Rcimtcj t` _mylcnt Mggùnts,_mylcnt Mggùnt Wwktghknd mnj Mggcss t` _mylcnt Mggùnts wkth BmskgAcmturcs. @aakgkmi Fùrnmi à thc Cur`pcmn Snk`n. I 234/2=:. 28.8.2?=:.Brusscis. http6//cur-icx.cur`pm.cu/icdmi-g`ntcnt/CN/ZXZ/0urk


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‚‚‚. 2?=2. Rctmki Aknmngkmi Wcrvkgcs. Wpcgkmi Cur`bmr`lctcr 747. Cur`pcmnG`llkssk`n. Brusscis6 Cur`pcmn G`llkssk`n.

CSW@G@. 2?=:. Cur`pcmn W`gkmi G`ntrmgt Jcgimrmtk`n. http6//www.cus`g`.cu/(mggcsscj =3 Wcptclbcr 2?=:).

Aknmngkmi Wcrvkgcs Muth`rkty. =;;;. G`nsulcr Cjugmtk`n6 M Wtrmtcdy a`r _r`l`tknd_ubikg Snjcrstmnjknd ̀ a thc Aknmngkmi Wystcl. I`nj`n6 Aknmngkmi Wcrvkgcs Muth`rkty.

Dcsmltvcrbmnj jcr Jcutsghcn Qcrskghcrundswkrtsghmat (DJQ) 2?=7m. Wtmtkstkgmi[cmrb`è à Dcrlmn Knsurmngc. Dcsmltvcrbmnj jcr JcutsghcnQcrskghcrundswkrtsghmat c.Q.. Bcrikn.

‚‚‚. 2?=7b. Jkc jcutsghcn Qcrskghcrcr. Vmhicn unj Ametcn. Dcsmltvcrbmnj jcrJcutsghcn Qcrskghcrundswkrtsghmat c.Q. Bcrikn.http6//www.djv.jc/zmhicn-ametcn/brmnghcnjmtcn/ucbcrbikge/#bcstmnj (mggcsscj 8 Wcptclbcr 2?=:).

Di`bmi Cg`n`ly. 2?=:. http6//www.thcdi`bmicg`n`ly.g`l/ (mggcsscj =? Wcptclbcr

2?=:).Dr`ss, R. 2?=:. A`rcw`rj . Kn Aknmngkmi G`nsulcr _r`tcgtk`n mnj Aknmngkmi Cjugmtk`n

kn Dcrlmny cjktcj by Zkaac, M.. B`nn mnj Csghb`rn, Dcrlmny6 DKV JcutsghcDcsciisghmat aùr Kntcrnmtk`nmic Vusmllcnmrbckt (DKV). 7.

Hmnjcisbimtt . 2?=:. CS-_mrimlcnt bcsghikcÐt Dkrè`nt` aùr fcjcrlmnn. =3.?:.2?=:.http6//www.hmnjcisbimtt.g`l/pìktke/kntcrnmtk`nmi/ncurcdciund-cu-pmrimlcnt-bcsghikcsst-dkr è`nt`-aucr-fcjcrlmnn/;4112?2.htli (mggcsscj == Wcptclbcr2?=:).

Hmrhàa, J., mnj Z. Eñrtknd. =;;8. Icnjknd Rcimtk`nshkps kn Dcrlmny. ClpkrkgmiCvkjcngc ar`l Wurvcy Jmtm. Fùrnmi à Bmneknd mnj Aknmngc 226 =7=4‗=737.

Knstktut aùr Lkttcistmnjsa`rsghund. 2?=:. Lkttcistmnj kl Ùbcrbikge. http6//www.kal-b`nn.`rd/stmtkstkecn/lkttcistmnj-kl-ucbcrbikge/#mgg`rjk`n


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jcr Euituslknkstcr jcr Iênjcr kn jcr Bunjcsrcpubike Jcutsghimnj KK M. Bcrikn.http6//www.ele.`rd/akicmjlkn/pja/_rcsscSnjMetuciics/2?=7/Qcrbrmughcrbkijund.pja (mggcsscj 2? Lmy 2?=3).

En`bi`gh, L., T. Immtz, J. Ncubcrdcr, I. Aimgh, H. Mnscn mnj J. E`rgzme. 2?=:. kaa-

Ùbcrsghuijundsrcp`rt 2?=:. Ùbcrsghuijund kn Jcutsghimnj , knstktut aùraknmnzjkcnstickstundcn c.Q. Hmlburd.

E`rgzme, J., mnj L. Tkiecn. 2??;. Qcrbrmughcrkna`rlmtk`n Wg`rknd. D_A`rsghundsdruppc Knstktut aùr Drunjimdcn- unj _r`drmlla`rsghund. Lùnghcn.

Ic Bimng, F., M. _`rpkdikm, A. Zcppm, F. Vhu, mnj L. Vkcdcilcycr. 2?=:. HùschìjWmvknd Bchmvk`r mnj Grcjkt G`nstrmknts kn thc Cur` Mrcm. Jksgussk`n _mpcrJcutsghc Bunjcsbmne N` =1/2?=:.

Ichlmnn, C., mnj J. Ncubcrdcr. 2??=. J` Icnjknd Rcimtk`nshkps Lmttcr0 Cvkjcngcar`l Bmne Wurvcy Jmtm kn Dcrlmny. Fùrnmi à Cg`n`lkg Bchmvk`r mnj@rdmnkzmtk`n :36 77;‗73;.

Iusmrjk, M. mnj @. W. Lktghcii. 2?=:. Zhc Cg`n`lkg Klp`rtmngc à Aknmngkmi Iktcrmgy6Zhc`ry mnj Cvkjcngc. Fùrnmi ̀ a Cg`n`lkg Iktcrmturc 326 3‗::.

Qcrbmnj Bkijundslcjkcn. 2?=:. @niknc Cjugmtk`nmi Lcjkm. Snkvcrskty à Mudsburdg`lpictcs i`nd-tcrl rcscmrgh pr`fcgt Qcrbmnj Bkijundslcjkcn. Armneaurt mlLmkn. http6//www.bkijundslcjkcn.jc/prcssc/prcssclkttckiundcn/pl2?=:/2?=:-?7-=8-mudsburd-aknmi/ (mggcsscj 2? Lmy 2?=3).

Lcreci, M. 2?=:. Rcdkcrundscreiêrund v`n Bunjcsemnzicrkn Lcreci . 2;. Fmnumry 2?=:.Jkc Bunjcsrcdkcrund. Jcutsghcr Bunjcstmd. Bcrikn.http6//www.bunjcsrcdkcrund.jc/G`ntcnt/JC/Rcdkcrundscreimcrund/2?=:/2?=:-?=-2;-bt-lcreci.htli (mggcsscj 2: N`vclbcr 2?=:).

Ncubcrdcr, J., mnj W. Rêthec-Jñppncr. 2??8. Tkresmleckt v`n Imnjcsbùrdsghmatcnunj Bùrdsghmatsbmnecn6 cknc clpkrksghc Wtujkc aùr Lcgeicnburd-Q`rp`llcrn.Vcktsghrkat aùr ñaacntikghc unj dclcknwkrtsghmatikghc Sntcrnchlcn 7=(:)6 781‗:?1.

Ncubcrdcr, J., mnj W. Rêthec-Jñppncr. 2?=3. Zhc Rìc à Jcl`drmphkgs kn WlmiiBuskncss I`mn _rkgknd. Wlmii Buskncss Cg`n`lkgs ::6 :==‗:2:.

N`dicr, I., mnj S. Rckancr. 2?=:. Kntr`jugtk`n6 Zhc Ncw Jklcnsk`n à Ikac Zklc kn thcImw à G`ntrmgts mnj @bikdmtk`ns. Kn Ikac Zklc G`ntrmgts. W`gkmi I`nd-tcrlG`ntrmgts kn Imbùr, Zcnmngy mnj G`nsulcr Grcjkt Imw , cjktcj by I. N`dicrmnj S. Rckancr. Zhc Hmduc, Ncthcrimnjs6 Cicvcn Kntcrnmtk`nmi _ubikshknd. =‗4=.

@rdmnksmtk`n a`r Cg`n`lkg G`-`pcrmtk`n mnj Jcvci`plcnt (@CGJ). 2??3m. Klpr`vkndAknmngkmi Iktcrmgy. Mnmiysks à Kssucs mnj _ìkgkcs. _mrks6 @CGJ.

‚‚‚. 2??3b. Rcg`llcnjmtk`n `n _rkngkpics mnj D``j _rmgtkgcs a`r AknmngkmiCjugmtk`n mnj Mwmrcncss. _mrks6 @CGJ.

‚‚‚. 2?=:. Dcrlmny. Eccpknd thc Cjdc6 G`lpctktkvcncss a`r Kngiuskvc Dr`wth.’Bcttcr _ìkgkcs“ Wcrkcs. _mrks6 _mrks6 @CGJ.

‚‚‚. 2?=3. Wcia-clpi`ylcnt rmtc (knjkgmt`r). j`k6 =?.=484/ab384=3c-cn.https6//jmtm.`cgj.`rd/clp/scia-clpi`ylcnt-rmtc.htl (Mggcsscj `n ?1 Acbrumry2?=3)

_cmghy, W., mnj M. R`c. 2??1. Mggcss t` Aknmngc ‗ Thmt J`cs Kt Lcmn mnj H`w J`

Wmvknds Bmnes A`stcr Mggcss. _crspcgtkvcs :;. @xa`rj _ìkgy Lmnmdclcnt.

2:

http://www.kmk.org/fileadmin/pdf/PresseUndAktuelles/2013/Verbraucherbildung.pdfhttp://www.kmk.org/fileadmin/pdf/PresseUndAktuelles/2013/Verbraucherbildung.pdfhttp://www.bundesregierung.de/Content/DE/Regierungserklaerung/2014/2014-01-29-bt-merkel.htmlhttp://www.bundesregierung.de/Content/DE/Regierungserklaerung/2014/2014-01-29-bt-merkel.htmlhttp://www.bundesregierung.de/Content/DE/Regierungserklaerung/2014/2014-01-29-bt-merkel.htmlhttp://www.bundesregierung.de/Content/DE/Regierungserklaerung/2014/2014-01-29-bt-merkel.htmlhttp://www.kmk.org/fileadmin/pdf/PresseUndAktuelles/2013/Verbraucherbildung.pdfhttp://www.kmk.org/fileadmin/pdf/PresseUndAktuelles/2013/Verbraucherbildung.pdf


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Rckancr, S. 2??1m. CS Dcncrmi Rcp`rt. Kn Aknmngkmi Iktcrmgy kn Cur`pc, cjktcj by S.Rckancr. W`gkmi Aknmngc Qì. ;. N`l`s6 =3‗71.

‚‚‚. 2??1b. Aknmngkmi Cjugmtk`n. Kn Aknmngkmi Iktcrmgy kn Cur`pc, cjktcj by S.Rckancr. W`gkmi Aknmngc Qì. ;. N`l`s6 ;‗=:.

‚‚‚. 2?==. Lyth`s Lkgr`-Icnjknd. Vur _r`juetk`n ckncs Q`rvcrstênjnksscs klErcjktvcrhêitnks. Erktksghc Fustkz :6 7;?-:==.

‚‚‚. 2?=2. Rkdht t` m Bmskg Bmne Mggùnt a`r @vcrknjcbtcj G`nsulcrs Z`wmrjsRcsp`nskbic Bmneknd . Hcmrknd à thc G`llkttcc `n thc Kntcrnmi Lmrect mnjG`nsulcr _r`tcgtk`n. Snkvcrsmi Mggcss t` m Bmskg _mylcnt Mggùnt. Brusscis6Cur`pcmn _mrikmlcnt.

Rckancr, S., mnj M. Wghcih`wc. 2?=?. Aknmngkmi Cjugmtk`n. Fùrnmi à W`gkmi WgkcngcCjugmtk`n ;6 72‗:2.

Wghêacr, J., mnj E. A. Vkllcrlmnn. 2??8. Sntcrnchlcnsaknmnzkcrund - WknjAñrjcrbmnecn n`gh zcktdclêÐ0 Kn Wtrmtcdksghcs Lmnmdclcnt kn Añrjcrbmnecn

- Dcsghêatsl`jciic - E`nzcptc, Knstrulcntc, cjktcj by A. Ecupcr mnj J._ughtm. Tkcsbmjcn, Dcrlmny6 Dmbicr. 21;‗2;:.

Wghlkjt, M. D., mnj L. vmn Ciemn. 2??1. Zhc Lmgr`cg`n`lkg Bcncakts à DcrlmnDumrmntcc Bmnes. Knstktut aùr Lkttcistmnjsñe`n`lkc, Snkvcrskty à Zrkcr, Zrkcr.

Wghlkjt, M. D., mnj L. vmn Ciemn. 2?=?. Dcsmltwkrtsghmatikghcr Nutzcn jcr jcutsghcnBùrdsghmatsbmnecn. Knstktut aùr Lkttcistmnjsñe`n`lkc, Snkvcrskty à Zrkcr, Zrkcr.

Wtmtkstm. 2?=2. Bcvñiecrund - Vmhi jcr Cknw`hncr kn Jcutsghimnj nmgh Mitcrsdruppcnml 7=. Jczclbcr 2?=7. Wtmtkstm. Hmlburd.http6//jc.stmtkstm.g`l/stmtkstke/jmtcn/stujkc/=713/ularmdc/bcv`ciecrund-jcutsghimnjs-nmgh-mitcrsdruppcn/(mggcsscj 8 Wcptclbcr 2?=:).

‚‚‚. 2?=7. Rmneknd jcr L-G`llcrgc Emtcd`rkcn lkt jcr stêrestcn Nutzund jurghWlmrtph`nc-Bcsktzcr kn Jcutsghimnj kl Fmhr 2?=7. Wtmtkstm. Hmlburd.http6//jc.stmtkstm.g`l/stmtkstke/jmtcn/stujkc/2;=?==/ularmdc/l-g`llcrgc-emtcd`rkcn-lkt-jcr-stmcrestcn-nutzund-jurgh-slmrtph`nc-bcsktzcr/ (mggcsscj2? N`vclbcr 2?=:).

‚‚‚. 2?=:. Cur`pêksghc Snk`n & Cur`-V`nc6 Dcsmltbcvñiecrund v`n 2??: bks2?=: (kn Lkiik`ncn Cknw`hncr). Wtmtkstm. Hmlburd.http6//jc.stmtkstm.g`l/stmtkstke/jmtcn/stujkc/=:?73/ularmdc/cur`pmcksghc-unk`n-bcv`ciecrund-cknw`hncr/ (mggcsscj 4 @gt`bcr 2?=:).

Wtcamnk, L. I., mnj Q. Qmggm. 2?=:. Wlmii Akrls‛ Grcjkt Mggcss kn thc Cur` Mrcm6 J`csDcnjcr Lmttcr0 GCWka` Cg`n`lkg Wtujkcs. j`k6=?.=?;7/gcska`/kau?7=

Wtckn, K. 2?=:. Zhc _rkgc Klpmgt à Icnjknd Rcimtk`nshkps. Dcrlmn Cg`n`lkg Rcvkcw . A`rthg`lknd. =‗27.

Wtkatund Tmrcntcst. 2?=7. Wlmvm unj Muxl`ncy6 _rkvmtercjktc kl Kntcrnct.https6//www.tcst.jc/Wlmvm-unj-Muxl`ncy-_rkvmtercjktc-kl-Kntcrnct-:3:?:2=-:3:?:21/ (mggcsscj 2? N`vclbcr 2?=:).

Wmghvcrstênjkdcnrmt zur Bcdutmghtund jcr dcsmltwkrtsghmatikghcn Cntwkgeiund (WQR).2??8. Jms jcutsghc Aknmnzsystcl6 Caakzkcnz stckdcrn - Wtmbkiktêt crhñhcn. Wmghvcrstênjkdcnrmt zur Bcdutmghtund jcr dcsmltwkrtsghmatikghcn Cntwkgeiund(Gùngki à Cg`n`lkg Mjvks`rs). Cxpcrtksc kl Muatrmd jcr Bunjcsrcdkcrund,Tkcsbmjcn, Dcrlmny.

23

http://de.statista.com/statistik/daten/studie/1365/umfrage/bevoelkerung-deutschlands-nach-altersgruppen/http://de.statista.com/statistik/daten/studie/1365/umfrage/bevoelkerung-deutschlands-nach-altersgruppen/http://de.statista.com/statistik/daten/studie/291011/umfrage/m-commerce-kategorien-mit-der-staerksten-nutzung-durch-smartphone-besitzer/http://de.statista.com/statistik/daten/studie/291011/umfrage/m-commerce-kategorien-mit-der-staerksten-nutzung-durch-smartphone-besitzer/http://de.statista.com/statistik/daten/studie/14035/umfrage/europaeische-union-bevoelkerung-einwohner/http://de.statista.com/statistik/daten/studie/14035/umfrage/europaeische-union-bevoelkerung-einwohner/https://www.test.de/Smava-und-Auxmoney-Privatkredite-im-Internet-4540421-4540426/https://www.test.de/Smava-und-Auxmoney-Privatkredite-im-Internet-4540421-4540426/https://www.test.de/Smava-und-Auxmoney-Privatkredite-im-Internet-4540421-4540426/https://www.test.de/Smava-und-Auxmoney-Privatkredite-im-Internet-4540421-4540426/http://de.statista.com/statistik/daten/studie/14035/umfrage/europaeische-union-bevoelkerung-einwohner/http://de.statista.com/statistik/daten/studie/14035/umfrage/europaeische-union-bevoelkerung-einwohner/http://de.statista.com/statistik/daten/studie/291011/umfrage/m-commerce-kategorien-mit-der-staerksten-nutz

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