Policy Note on SMEs Access to Finance in Tunisia

The Tunisian government has long been aware of the need to support companies in their search for financing. Over the last decade, the government has strengthened legal and regulatory frameworks in this area, created public financing systems, facili...

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Bibliographic Details
Main Author:	World Bank
Format:	Policy Note
Language:	English en_US
Published:	Washington, DC 2013
Subjects:	ACCESS TO BANK ACCESS TO FINANCE ACCESS TO FINANCIAL SERVICES ACCESS TO FINANCING ACCOUNT RECEIVABLES ADVANCED ECONOMIES AMOUNT OF COLLATERAL ASSET FINANCING AVAILABILITY OF CREDIT BALANCE SHEETS BANK ASSETS BANK CREDIT BANK FINANCING BANK LENDING BANK LOANS BANKING LAW BANKING SECTOR BANKING SERVICES BANKING SYSTEM BANKRUPTCY BANKRUPTCY LAWS BANKS BENEFICIARIES BENEFICIARY BOURSE BUDGET DEFICIT BUSINESS CENTERS BUSINESS CREDIT BUSINESS FORMATION BUSINESS INCUBATORS BUSINESS OWNERS BUSINESS PLANS CAPITAL FORMATION CAPITAL REQUIREMENTS CAPITALIZATION CASH FLOW CENTRAL BANK CENTRAL BANK OF TUNISIA COLLATERAL COLLATERAL REQUIREMENTS CONSTRAINTS ON ACCESS CONSULTING SERVICES CONSUMER CREDIT CONSUMER LOANS CONTRACT ENFORCEMENT CORPORATE FINANCING COST OF CAPITAL COST OF CREDIT COUNTRY COMPARISONS CREDIT BUREAU CREDIT BUREAUS CREDIT CARDS CREDIT GUARANTEE CREDIT HISTORIES CREDIT HISTORY CREDIT HISTORY INFORMATION CREDIT INFORMATION CREDIT INFORMATION SYSTEMS CREDIT INSTITUTION CREDIT INSTITUTIONS CREDIT REGISTRY CREDIT REPORTING CREDIT REPORTING SYSTEM CREDIT SCORING CREDIT-SCORING CREDITS CURRENT ACCOUNT CURRENT ACCOUNT DEFICIT DEBT DEBT FINANCING DEBT RATIO DEBTOR DEBTS DECENTRALIZATION DEFAULT RISK DEPOSIT DEPOSITS DEVELOPMENT BANKS DISTRIBUTION OF CREDIT DIVERSIFICATION EARNINGS ECONOMIC AGENTS ECONOMIC COOPERATION ECONOMIC CRISIS ECONOMIC DEVELOPMENT ECONOMIC GROWTH ECONOMIC INITIATIVE EMERGING ECONOMIES EMPLOYER ENTREPRENEURS EQUIPMENT EQUITY CAPITAL EQUITY INVESTMENTS EQUITY RATIO EXCHANGE RATE EXPENDITURES EXPLOITATION EXTERNAL FUNDS FACTORING FARMERS FINANCIAL ASSISTANCE FINANCIAL CRISIS FINANCIAL DATA FINANCIAL INFORMATION FINANCIAL INSTITUTIONS FINANCIAL LEASING FINANCIAL MARKET FINANCIAL MARKETS FINANCIAL PRODUCTS FINANCIAL SYSTEM FINANCING COST FINANCING NEEDS FINANCING SOURCES FIXED ASSET FIXED ASSETS FIXED CAPITAL FOREIGN BANKS FOREIGN INVESTOR FUNDING SOURCES GLOBAL ECONOMY GUARANTEE FUND GUARANTEE SCHEMES HANDICRAFTS INDICATORS OF ACCESS INDUSTRIAL ENTERPRISES INFLATION INTANGIBLE INTANGIBLE ASSETS INVESTMENT BANKS INVESTOR PROTECTION ISLAMIC FINANCE LACK OF COLLATERAL LACK OF INFORMATION LACK OF KNOWLEDGE LEGAL FRAMEWORK LENDERS LIQUIDITY LOAN LOAN APPLICATIONS LOAN PRODUCTS LOAN REQUEST LONG TERM ASSETS LONG-TERM ASSET LONG-TERM FUNDING MACROECONOMIC ENVIRONMENT MACROECONOMIC MANAGEMENT MARKET CAPITALIZATION MARKET DEVELOPMENT MATURE MARKET MFI MICROCREDIT MICROFINANCE MONETARY FUND MORTGAGE MOVABLE ASSET MUTUAL FUNDS NATIONAL GUARANTEE NET INTEREST MARGIN NEW BUSINESS NEW COMPANY NOMINAL INTEREST RATES NON-PERFORMING LOANS OPERATING COSTS OPERATIONAL COSTS OUTSTANDING CREDIT OUTSTANDING CREDITS PORTFOLIOS PRIMARY MARKET PRIVATE CREDIT PRIVATE CREDIT BUREAUS PRIVATE ENTERPRISES PRIVATE EQUITY PRIVATE INVESTMENT PRIVATE SECTOR FINANCING PRIVATIZATION PROFITABILITY PROMOTION ACTIVITIES PUBLIC BANK PUBLIC BANKS PUBLIC CREDIT PUBLIC REGISTRIES RATE OF RETURN REAL ESTATE REAL ESTATE LOANS RECESSION REGISTRATION SYSTEMS REGULATORY FRAMEWORKS REPAYMENT REPAYMENT CAPACITY RETAINED EARNINGS RISK SHARING RISK TAKING SECONDARY MARKET SEED FUNDS SELF FINANCE SELF-FINANCING SETTLEMENT SHORT-TERM FINANCING SMALL ENTERPRISES SOCIAL DEVELOPMENT SOURCE OF INFORMATION START-UP START-UPS STOCK EXCHANGE STOCK MARKET STOCK MARKET DEVELOPMENT SUPPLY OF FINANCING TECHNICAL ASSISTANCE TELECOMMUNICATIONS TERM CREDIT TERM CREDITS TRADING TRANSACTION TRANSPARENCY TRANSPORT UNEMPLOYMENT UNION UNIVERSAL BANKS VALUATION VENTURE CAPITAL VENTURE CAPITAL FIRMS VENTURE CAPITAL INVESTMENT VENTURE CAPITALISTS WORKING CAPITAL
Online Access:	http://documents.worldbank.org/curated/en/2009/12/16350506/tunisia-policy-note-smes-access-finance-tunisia http://hdl.handle.net/10986/12951

Description
Summary:	The Tunisian government has long been aware of the need to support companies in their search for financing. Over the last decade, the government has strengthened legal and regulatory frameworks in this area, created public financing systems, facilitated the development of financial markets and helped to expand the supply of financial products, especially those geared at SMEs. SMEs play a vital role in Tunisia because at least 97.8 percent of Tunisian firms (across all sectors) fall into this category. The main consequence of the prevalence of SMEs in Tunisia s economic landscape is that all economic development strategies are de facto based on the performance of this category of companies. SMEs ability to obtain financing for their business operations and investments is therefore crucial to Tunisia s future economic development.

Policy Note on SMEs Access to Finance in Tunisia

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