Making it easier for immigrants to get business finance

A recent study has estimated that there are around 125 000 firms in Italy run by people who have come from countries outside the EU. Around a quarter of these are firms in the craft industry. According to the study, many immigrants from outside the EU experience difficulties in getting bank loans and credit, both when they start up a company and when it is in operation.

A project, partly funded under the action programme and involving the Ministry of Social Affairs, an Italian bank (Banca Popolare Etica) and the association of craft traders and small businesses (Confartigianato), has, therefore, been launched to try to address this problem. Those involved explained their reasons for participating and what they expected from the project.

"The object is to devise new financial instruments which can ease access to credit of people from third countries seeking to set up business and can perhaps provide an example to be followed in other EU countries. The first phase is to interview a sample of the businessmen or women concerned in a number of Italian cities. A report will then be produced based on the information collected. This will be discussed at a large conference in Summer 2004 bringing together representatives of business associations and people from third countries running companies in both Italy and other EU countries. A report on the conference will be published and made available in all Member States."

GIUSEPPE SILVERI, MINISTRY OF LABOUR AND SOCIAL POLICY

"As an association of craft traders and small businesses, we also represent the interests of people from other countries who are looking to start up a company. Our hope is that the project will be able to identify new instruments of bank credit, which is crucial for starting up any new business project and keeping it going. This would be a major way of easing the integration of immigrants into society and the economy. The project will also help to raise awareness of the growing number of businesses run by people from outside the EU and the problems they face."

CLAUDIO CANETRI, CONFARTIGIANATO

For Information, contact Giuseppe Silveri at GSILVERI@WELFARE.GOV.IT