07/12/2004 15:03
The excessive and immoderate consumption of the Cypriot citizens has not eased “the problem of liquidity and viability” that several small-medium companies face, the House Commerce Committee said on Tuesday during the talks on the problems of the island’s stores.
“Although Cyprus ranks first in ‘stylishness’ and third in the purchase of clothing and shoeing goods in Europe, the market lacks supportive programs for the small medium enterprises”, DISY MP, Maria Kyriakou said.
Mrs. Kyriakou said that small stores suffer the “accumulation of debts”. “There is no proper control for the opening of new shops. There are no incentives for the mergers of larger viable units. The uncontrollable opening of shops has led to their interdependence and interfinancing. If we do not eliminate this phenomenon on time, economy will be significantly affected”, Mrs. Kyriakou said.
On the other hand, POVEK Chairman, Melios Georgiou stressed the need for incentives “to protect the shops that are not viable” and said that the issue is reviewed by POVEK.
Similarly, a representative of the Banks’ Association said that there is a lack of supportive programs for the small medium stores. “We need to expand the plan for the manufacturing industry to include the small companies of the retail trade”, he continued.
After the end of the meeting, Mrs. Kyriakou engaged to concentrate the proposals of all parties involved and forward them to the competent authorities.
“Although Cyprus ranks first in ‘stylishness’ and third in the purchase of clothing and shoeing goods in Europe, the market lacks supportive programs for the small medium enterprises”, DISY MP, Maria Kyriakou said.
Mrs. Kyriakou said that small stores suffer the “accumulation of debts”. “There is no proper control for the opening of new shops. There are no incentives for the mergers of larger viable units. The uncontrollable opening of shops has led to their interdependence and interfinancing. If we do not eliminate this phenomenon on time, economy will be significantly affected”, Mrs. Kyriakou said.
On the other hand, POVEK Chairman, Melios Georgiou stressed the need for incentives “to protect the shops that are not viable” and said that the issue is reviewed by POVEK.
Similarly, a representative of the Banks’ Association said that there is a lack of supportive programs for the small medium stores. “We need to expand the plan for the manufacturing industry to include the small companies of the retail trade”, he continued.
After the end of the meeting, Mrs. Kyriakou engaged to concentrate the proposals of all parties involved and forward them to the competent authorities.
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