Maria Doiciu, Improving the Framework for Microcredit and Microenterprises
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Maria Doiciu, Improving the Framework for Microcredit and Microenterprises
- 1. Improving the framework for microcredit and microenterprises How regulatory changes can advance or hinder Ianuarie 2011 the industry –CEE case
- 2. Enterprises in EU27 Gross value added 21.6% 18.9% 17.9% 41.6% Number of employes 29.8% 20.3% 16.8% 33.1% Number of 1.1% enterprises 92.1% 6.6% 0.2% 0% 20% 40% 60% 80% 100% Micro Small Medium Large
- 3. Ease of doing business 60-80 40-60 20-60 0-20 Estonia Latvia Lithuania Poland Czech Rep. Slovakia Hungary Romania Slovenia Bulgaria
- 4. Entry barrier benchmarking 160 DOING BUSINESS – World Bank Group; economy rankings 140 138 126 120 100 101 96 80 76 72 63 51 64 62 60 59 48 51 49 48 48 48 44 40 37 39 40 28 27 20 24 21 24 8 8 8 4 0 Easy of doing business rank Starting a business Getting credit
- 5. Legal framework for MFIs: NBFIs What consequences has it had on the Romanian MF sector? • Easier access to credit and Commercialization of the sector • New investors: commercial and social • New MFIs: from 8 – to 200 MC providers • MFIs Operational sustainability > 100% • Increased supervision from Central Bank • A unified legal framework for all Non Bank Financial Institutions: Micro credit, Leasing, Consumer credit, Mortgage.
- 6. Romanian MF sector in 2005 around 5-10% SMEs financial market MATURITY 18 15 12 9 6 3 SOCIAL ORIENTATION 0 Social oriented Social and commercial oriented Commercial oriented NGO GLP ≥EUR 5,000,000 EUR 5,000,000 > GLP ≥EUR 1,000,000 GLP < EUR 1,000,000 NBFI
- 7. Romanian MF sector in 2010 around 30% financial market 20 MATURITY 15 12 9 8 5 SOCIAL ORIENTATION 0 Social oriented Social and commercial oriented Commercial oriented NGO GLP ≥EUR 1 5,000,000 EUR 5,000,000 > GLP ≥EUR 1,000,000 GLP < EUR 1,000,000 NBFI
- 8. What hindered the industry (MSMEs)? – High bureaucracy – High entrance barriers for MSBss – Corruption – High level of taxation
- 10. Re-building the entrepreneurial spirit • School curricula and Non-academic entrepreneurial education • Promotion of entrepreneurs as social models • Equilibrium btw. risks and recompenses • Social responsibility • Stimulate high aspirations
- 11. Let’s get together! And lobby for an Enabling Doing Business Environment at the Local, National and European Union level in the SAME TIME
- 12. Thank you! Maria Doiciu Eurom Consultancy & Studies Calea Plevnei 46-48, FPP Entrance, 2 nd fl. Bucharest, sector 1, Romania www.eurom-consultancy.ro E-mail: office@eurom-consultancy.ro