Confesercenti: “With new rules at risk the guarantees on the loans of the ‘pocket multinationals'”
“It is a credit alert for Mid Caps, companies that do not qualify as SMEs and with a number of employees between 250 and 499. A definition that includes the so-called ‘pocket multinationals’, the companies that represent the best of Made in Italy production in the world. And that now, due to the new rules introduced by the Dl Sostegni Bis, they will see their possibilities of accessing guaranteed loans, in particular short-term lines, from exposures to liquidity advances, which support daily activity, significantly limited”. So Confesercenti in a note.
“The Sostegni Bis, in fact, cuts off the Mid Caps from the Central Guarantee Fund for SMEs, establishing that they can only access the Italian Guarantee of Sace. Unfortunately, however, the latter – unlike the Central Fund – limits its operations to the medium term and only for unsecured mortgage operations: therefore, all short-term operations remain excluded from the possibility of guarantee. To renew them, not being able to count on sace’s Italian Guarantee, they will have to offer new guarantees, under penalty of returning the custody.
Wide access to credit has been essential to support companies in the hardest phase of the crisis triggered by the pandemic, but it is equally necessary in this restart phase”, concludes the note from Confesercenti.
For this reason, Confesercenti asks the Government to go back on the exclusion of Mid Caps from access to the Central Guarantee Fund for SMEs:it is a limitation that risks depriving these companies of liquidity at the very moment when it is most necessary for the relaunch of activity.
Sales, Confesercenti: good neighborhood businesses, slows down E-Commerce
Confesercenti: “Recovery on a positive year but the road to return to pre-pandemic levels is still long”.
“With the reopenings in May, a path of normalization begins, especially for the non-food sector, together with a return to the ‘sociality’ of families – with the progress of the vaccination campaign – which reduces the effects of online, the recovery on the year is positive but the road to return to pre-pandemic levels is still long”. This is how theConfesercenti Economic Office comments on the data released byIstat on the retail trade of May 2021.
“The month of May recorded, compared to last year, an increase in sales of 13.3%, a synthesis of a 28% growth in non-food – an increase reduced compared to the rebound of the months of March and April by the fact that in May 2020 a rise had begun due to the relaxation of health regulations – and a -1.5% of food. For the trade on small surfaces, which in the past months had suffered more than the other forms of distribution, there is a better resilience. While for e-commerce the growth is only 7%: such a low variation has not been recorded since the date of inclusion of this type in the Istat survey, a sign of how much the restrictions due to the pandemic have had a role of further push on the virtual purchase mode”.