The Central Bank of Egypt calls for easier finance for small enterprises
He added that stock turnover improved by close to 12% over the last quarter, but that the cost of finance remains the first obstacle to expansion in the governorates.
A number of importers argue that the proposed timetable needs a transition period of at least six months, so that small businesses can adapt their accounting systems.
The division head said the meeting examined the direct effect of the decision on supply inside the local market, and that the Chamber submitted a detailed memorandum carrying traders’ proposals on the timetable.
How the decision came about
Chamber figures put the number of registered businesses at 41,000, up by 3,400 on last year, most of them in retail and logistics.
Transparency in the supply chain is not a burden on the market; it is what protects it from monopoly.
He added that stock turnover improved by close to 12% over the last quarter, but that the cost of finance remains the first obstacle to expansion in the governorates.
What it means for traders
- an expanded Ahlan Ramadan fair among next quarter’s priorities
- A review of the timetable with the trade divisions
- A monthly report to the federation’s board
The Chamber had earlier launched a trader training programme on e-invoicing, taken up by more than 2,100 participants across six governorates.
Comments
No one has commented on this story yet. Be the first.