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SME Policy Index: The Mediterranean Middle East and North Africa 2014

Implementation of the Small Business Act for Europe

image of SME Policy Index: The Mediterranean Middle East and North Africa 2014

This report assesses the elaboration and implementation of SME policy in eight Middle East and North African economies of the southern Mediterranean shore. The assessment is structured according to the ten policy principles covered in the Small Business Act for Europe (the SBA). One of the main findings is that over the last five years there has been progress in SME policy elaboration and implementation in spite of the political and economic turmoil. However, that progress has been modest, incremental and uneven across economies and dimensions. Political and economic stability, as well as institutional development, had a major impact on policy performance.

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Efficient bankruptcy procedures and “second chance” for entrepreneurs

SBA principle: Ensure that honest entrepreneurs who have faced bankruptcy quickly get a second chance

This chapter focuses on the existence and efficiency of insolvency frameworks as well as on the ease with which previously bankrupt and non-fraudulent entrepreneurs can restart a business or get a second chance. The assessment, as that of 2008, shows that all MED economies have in place laws and procedures to deal with enterprise insolvency and bankruptcy. However, there is almost no data and information on the implementation of those laws and procedures. The results of the assessment indicate that MED economies need to establish mechanisms for monitoring and evaluating the effectiveness of bankruptcy laws and procedures, promote their implementation and introduce the principle of second chance in SME policy making.

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