Bill on crowdfunding to be tabled to parliament by end of Q2 (minister) | Tunisia News Gazette

Bill on crowdfunding to be tabled to parliament by end of Q2 (minister)

A draft law on crowdfunding will be tabled to the House of People’s Representatives (HPR) by the end of Q2 of 2018, Minister of Industry and Small and Medium-Sized Enterprises Slim Feriani told TAP.

This piece of legislation is intended to reformulate the SMEs financing system and diversify financing sources by means of setting up an alternative and innovative funding mechanism, Feriani Wednesday said at an event held in Tunis by the Agency for the Promotion of Industry and Innovation (APII) on the theme: ” SMEs: Challenges and Opportunities.”

Crowdfunding, common practice in Europe and the USA in particular, will significantly impact the business ecosystem in Tunisia and meet the needs of enterprises especially as funding and post-creation support are the major obstacles.

The Minister reminded of a string of recent measures, including a fund operational since early April with 400 MTD earmarked over three years for the restructuring of ailing businesses.

Member of the Tunisian Confederation of Industry, Trade and Handicrafts (UTICA) Executive Bureau Bechir Boujdey said there is need to devise a clear industrial strategy and another geared towards innovation.

Source: TAP News Agency

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