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Abstract
Constraint access for bank credit by the SMEs can create hindrance to the contribution given by SMEs to the growth of economy. This paper focuses on the effect of business life cycle of SMEs on their financing through trade credit. This study will investigate whether various firm related determinants which affect their decision for trade credit affect differently in different stages of life cycle of SMEs. The empirical analysis was done on panel data of 464 manufacturing SMEs of Himachal Pradesh (India) over a period 2013-2017 with fixed effect applied on it.There are a total 2,320 number of observations.