The Ministry of Supply reviews easier finance for small enterprises
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.
Analysts expect no immediate effect on consumer prices: current stock covers market needs at least to the end of next quarter.
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.
The Chamber’s view
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.
Verdict
The fair, reviewed
Well organised, and busier than expected.
- Organisation 8.8
- Turnout 8.0
What we liked
- A wide turnout
What we didn’t
- Cramped floor space
Every day of delay in customs release costs an importer more than any tax cut saves him.
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
- easier finance for small enterprises among next quarter’s priorities
- A review of the timetable with the trade divisions
- A monthly report to the federation’s board
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.
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