Germany's bank-based financial system provides a high level of financial inclusion, measured by bank outreach and use of financial services. However, the most vulnerable individuals and small enterprises in Germany tend to be excluded or credit constrained. The quality of financial inclusion is...

Purpose – The theory of small business finance predicts that ethnic minority‐owned businesses are more likely to be credit constrained in the start‐up process than are native‐owned businesses. In Germany, empirical evidence for this issue is scarce because of missing data. This paper...