For instance, entrepreneurs in our small business panels have noted that access to finance for start-ups is a challenge, banks often have substantial collateral requirements, and the process for getting finance is lengthy and onerous.
Some countries are against credit and high levels of debt, while others are less concerned. It is striking, for instance, that Germany has the lowest rate of property ownership in Europe. Why is that? In other countries people take out loans to build houses – especially now, with interest rates so low. In Germany, you barely see that happening.