Tunisia ministry of industry, energy
Self-financing is the main source of funding for Tunisian companies
Download 1.85 Mb.
|
2.2. Self-financing is the main source of funding for Tunisian companies.36. Self financing, essentially through retained earnings, is the main source of funding for Tunisian firms. Bank financing remains relatively limited. Depending on the sector, bank lending provides for 11 to 24 percent of long-term asset financing, compared with 48 to 52 percent from retained earnings (Table 3). These figures are not unusual at the international level. In the industrial sector, for which there is comparable data, bank credit provides for about 20 percent of long-term asset financing in China, 19 percent in Morocco, 14.3 percent in Brazil and 12.6 percent in Algeria.24 Table 3. Financing of long term assets (Pct.) 
Source: Enquête sur la compétitivité, IEQ 2007. 37. Financing provided by SICARs play a minor role, irrespective of sector. The relatively limited use of bank financing by Tunisian SMEs reflects to some extent the negative perceptions mentioned previously. It is also worth noting that the share of bank credit in SMEs’ asset financing appears to be positively correlated with the age of the company. Companies aged 10 years or more report a greater share of bank credit in their asset financing (24 percent) than newly-created firms (16 percent). Similarly, the share of SICARs remains minimal even in the category of young companies that are less than five years old.
Directory: curated curated -> Concept stage curated -> Concept stage curated -> Republic of Côte d'Ivoire Urbanization Review curated -> Report No: aus11011 Central America curated -> Report No. 94474-pk fiscal Disaster Risk Assessment Options for Consideration curated -> Environmental and Social Management Framework for the Costa Rica Telecommunications Sector Modernization Project curated -> Environment Impact Assessment For Jiangxi Shangrao Sanqingshan Airport Beijing Guohuantiandi Environmental Technology Development Center. Ltd. Oct. 2012 Content curated -> Growth through Innovation An Industrial Strategy for Shanghai By Shahid Yusuf Kaoru Nabeshima April 22nd, 2009 curated -> Report No: 70178. People's Republic of China Download 1.85 Mb. Share with your friends:
|