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Towards Business Model Reporting for SMEs

In: New Models of Financing and Financial Reporting for European SMEs

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  • Colin Haslam

    (Queen Mary University of London)

Abstract

The International Financial Reporting Standards (IFRS) represent the international financial language, as investors can compare more easily the performance of companies which perform internationally. The financial results translated into IFRS increase (market) efficiency and does a reduction in the cost of raising capital for companies, which ultimately helps to boost growth. The rapid spread of IFRS around the globe in the past decade means that these benefits are no longer theoretical, as results are being seen in practice. The main purpose for SMEs’ financial disclosures is organised around the integrated financial viability statement (IFVS) and SMEs’ business models. They are designed to enhance stakeholder relations and improve market conditions. Such a combined approach would consolidate the SME accounting disclosures showing viability and decision-making usefulness given the informing capacity of financial reporting. Via digital reporting the financial and non-financial data would be collected more rapidly and processed into useful risk-evaluation toolkits for intelligence reports in addition to investment risk evaluation. Financialising SME Financial Reporting reveals how market conditions impact upon the financial performance and sustainability of SMEs and also generates innovative policy interventions and financing strategies for SME integrity and efficiency.

Suggested Citation

  • Colin Haslam, 2019. "Towards Business Model Reporting for SMEs," Springer Books, in: Eva Kaili & Dimitrios Psarrakis & Raz van Hoinaru (ed.), New Models of Financing and Financial Reporting for European SMEs, chapter 7, pages 85-93, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-02831-2_7
    DOI: 10.1007/978-3-030-02831-2_7
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