Listed SMEs: Bercy gives a boost
How to create a bridge between, on one hand the world of midsize companies and intermediary who need capital to grow and the other financial markets constantly on the lookout for good investments? To answer this question, Christine Lagarde met the players in the world of SMEs and funding agencies (MFA, Bank of France, Caisse des Depots, NYSE-Euronext … OSEO). The Economy Minister arrives with concrete steps, beyond those already announced October 12 at the first panel to meet the government's objective of developing a strong network of companies of intermediate size (ETI ) more competitive
If markets do not turn instinctively to the ETI, it is primarily because they do not know. Why the Minister of Economy will launch this Thursday Observatory of SME financing and ETI.Hosted by the CDC, the observatory could become a mine of information on these companies.
It is also because the financial analysis necessary at any investor is very poorly developed with respect to this class of business. But for analysts interested closer to the listed SMEs, there is nothing more effective than financial incentives! Christine Lagarde should announce the creation of a mutual fund financed by the place, to develop financial analysis devoted to small and medium enterprises.
New envelope of the Caisse des Depots
The minister also wants to strengthen the presence of institutional investors in the markets for listed SMEs. The TFB will spend an additional approximately 200 million euros investment in SMEs.In addition, to encourage the clustering of SMEs too small to issue bonds only, OSEO will provide its guarantees on "bundled borrowings" faxless pay day loans .
Finally, Christine Lagarde has relaxed the regulatory and legal framework surrounding the ETI, extending the scope of companies that can buy their own actions that only companies listed on regulated markets can do today. These financial measures should satisfy ASMEP-ETI, the union of mid-cap companies chaired by Yvon Gattaz. But the employers' organization, which holds its annual talks Monday, demand more.She hoped in particular that social rules are adapted to the size of firms employing fewer than 5 000 employees, allowing, for example, mandates the merger of the works council and delegate staff and allowing negotiations in companies that do have no unions representing the majority.
The ASMEP militates for exemption from charges to encourage the employment of workers over 65 years. These adaptations enable ETI to save between 1 and 1.5 billion euros. The ETI-ASMEP also advance proposals on taxation, export, access to public markets. To promote long-term investments, the union founded by Yvon Gattaz supports the establishment of a fund to assist ETI to grow by acquiring companies.Recalling once again that the ETI and SMEs are taxed more than large companies, it proposes measures that would facilitate the transmission and simplification of tax legislation.
ALSO READ:
"OSEO placed on the fastest growing
"Banks are committed to reserve 96 billion to SMEs
A mediator for intermediate firms
The France mobilizes to revive the market for listed SMEs
"Every seven minutes a small die …!