Time for tough

This text is published by the Journal Tribune Five Days and can be read in pdf here

Many entrepreneurs have been missing in this virulent crisis that ended last year with more than 200,000 companies, the role of Official Credit Institute (ICO). The ICO has long been a political tool, managed by one another, sometimes so embarrassing. This would not be so bad if at least at critical moments have given up for our companies and our entrepreneurs.

Unfortunately this has not happened, the Official Credit Institute has left in the hands of banks risk management, which has resulted in 2008 and 2009 in surreal situations in which there was much money available to large companies and creditworthiness, which usually did not need it, while the market was closed for those who had problems of liquidity, working capital and defaults. Tarde, years late, but finally arrives expected announcement that the ICO will limit their activity to cover a spread of bank interest rate and finally assume the financial risk of operations, leaving out the banks.

This is a historical claim, in an era where our banks have not kept pace than expected and have not transferred the credit to the company as needed. But throughout history, yet happy, I do not know if it be until there is concrete, but in this case two. First, it scares me to check that there will be a public competition to select a bank to manage that support SMEs and freelancers. This means that even long before we see this project become a reality in the street and we run the risk that win in the end only the usual: the benches.

Secondly, this move comes two years later. It is true that the administration tends to be slow, but usually does in this case is trivial. Hundreds of thousands of businesses and business projects have ended up fueling the sleep of the just in the last two years and have had to close their doors. If all goes well and keep faith, this is the time of the tenacious, all small and medium businesses that have endured Spanish, who have struggled and have gone for their projects, often burning their savings and assets. Maybe we could predict that the tenacious achieved be the first to start seeing light at the end of the tunnel.

Tags: five days , crisis , Empreendedores , ICO , traditional media