Resumen

HERNANDEZ FERNANDEZ, Lissette E.; HERNANDEZ FERNANDEZ, Ridelis; PORTILLO MEDINA, Rafael  y  ROMERO DE CUBA, Jenny. Alternatives in Short-term Financing for Small and Medium sized industries(S&M): the case of the clothing sector in el Zulia, Venezuela. Inv. Econ [online]. 2002, vol.62, n.239, pp.99-160. ISSN 0185-1667.

This article aims to analyze the different short-term financing alternatives used by small and medium sized industries (S&MI) in the clothing sector, operating in the El Zulia region of Venezuela, during the period 1998-1999. Toe first section sets out the background and the country's recent socio-economic evolution. There then follows a description of the behaviour of the clothing industry by occupation strata, at both national and regional level. This description considers variables such as number of establishments, added value, employment, and wages and salaries; as well as the effects of framing this combination of circumstances and conditions presented within the context of financing decisions taken by this type of productive unit. To conclude this analysis of the different financing altematives used, an interview­ type survey was carried out among administrators and finance managers of S&MI, based on a census of small and medium sized clothing industries registered with the Chamber of Industry, the Corporation for the Development of Small and Medium Sized Industry (Corpoindustria), and the Zuliano Industrial Group of Clothing and Textiles (Grizucontex). The resulting main short-term financing altematives were, in order of importance, accounts payable or sup­ plier credit, bank Joans and accumulated liabilities.