Support of sme’s in Italy: case of Confidi, experience and perspectives of evolution
The paper traces the chronicle of the development of Italian Confidi and of the critical pivotal and actual issues of Confidi, so to offer an appropriate frame to introduce the draft of reform of Confidi, actually under review of the Italian legislative system, and the considerations and proposals of the author concerning the theme. Object of this paper is the analysis of the historical and juridical development of Italian mutual guarantee societies. The article analyses origins and initial development of the system of mutual support for small and medium sized enterprises (SMEs), and Confidi Framework Law, issued in 2003. The paper regards AECM experience in supporting the development of SMEs. AECM is the European Association of Guarantee Institutions. Aim of their members is, each in their country, to support access to credit for small and mediumsized enterprises (SMEs). Of particular interest among historical members of AECM are to be considered the Italian members of AECM, both for volumes of guarantees issued in relation with national GDP both for number of members. Guarantees societies in Italy are historically private, mutual, and are named Confidi. The author describes Confidi structure, hierarchy and role of the Bank of Italy in the system of support to small and medium sized business in the country, being supported by recent economic and financial data of Confidi’s evolution and in consideration of the ultimate approval, on July 2015, by Italian Senate, of the draft of law about a substantial reform of the argument. The author offers a critical analysis of the actual draft and concludes by proposing some considerations about the reform. The ways of further development of small entrepreneurship in Russia are proposed.