Main creators of wealth and jobs, Tunisian businesses continue to benefit from specific measures ensuring their durability, their growth and their competitiveness. Yet, several other factors need to be considered to support these SMEs especially in a globalized world where transparency and competitiveness are the only possible weapon of resistance.
The point is essentially to meet the challenges of internalization, innovation and governance.
In this regard, Faisal Derbel, Honorary Chairman of the Board of the Institute of Chartered Accountants of Tunisia said in an interview with African Manager, that enterprises are required to cope with new challenges and new risks.
Interview:
“Businesses facing these challenges,” a hot topic. How do you assess the situation of Tunisian SMEs vis-à-vis these challenges?
We need to recall first that the previous sessions organized by IACE had examined the relationship between the company and its external environment. We addressed the challenges, challenges facing its economic, legal and tax problems. We also talked about business challenges compared with the European Union and in partnership with the Maghreb area. Now, we say why we are interested in existing challenges within businesses themselves.
What are the challenges faced by businesses?
First, internationalization. Businesses should internationalize, i.e. set up abroad, have overseas branches, agencies and markets and be well protected and well positioned. Protection does not mean protection by legislation to ban everything that is imported. This has ended for years. The protection is realized through improved competitiveness by better products compared to imported products. It is a major challenge especially with the market opening and liberalization of goods and services liberalization soon and why not the liberalization of agricultural products. There is no more privilege or priority for a particular Tunisian product. Products should stand out thanks to their quality-price value.
Then, comes the challenge of innovation. We need to innovate because businesses remain on their assets without improving, innovating and creating even according to taste and needs, especially the need of changing markets. Hence, they need to keep pace, to progress.
Subsequently, comes the challenge of competitiveness where the company is challenged to be competitive both internally and externally. At this level, it is a question of good governance. A company that does not govern well is a company that will fail.
Can you clarify the concept of good governance as it should be applied to Tunisian businesses?
Good governance is a good management of enterprises based on parameters of transparency, good management and good coordination between various stakeholders (shareholders, advisers and all interested parties of the company). It’s good to run a business in a dynamic of prosperity, longevity, progress and above all partnership.
Everybody needs to adhere to that, be convinced of business management. There are no taboo subjects. Indeed, the question of salaries of CEOs is no longer considered a taboo subject. Hence, the importance of transparency.
Tunisian SMEs, predominantly family-based, are they eligible for good governance?
Good governance is adoptable. It can be adopted by major entities in the world as well as smaller operators individually, of course, at levels of organization, different functioning, but if we want to be transparent, if we want to involve stakeholders, if we want to act in the entity, this is good governance. These are principles that can be put into any entity. With globalization, our SMEs are called to take up new challenges and are faced with new risks.
Are there any obstacles that hinder the management of these challenges?
Barriers exist at the legal and fiscal environment, we’re removing them gradually. Moreover, with the various reforms of the Commercial Companies Code, the law on financial security, tax reforms that have supported the tax burden of the company and have done much for reconciliation between the company and tax administration, I believe that the constraints are minimal.
With these challenges, how you see the profile of Tunisian SMEs in the years to come?
Tunisian SMEs should be able to ensure sustainability through a successful transfer of SMEs. The transfer of business under these conditions can result in failure and bring the company into bankruptcy.
Thus, it is understandable that the transfer of businesses is a multi-task endeavor which should benefit from the intervention of several players, including the transferor, the transferee and the employees. I would say the stakes are high. For this, it is useful to adopt the rules of good governance: transparency, social interest and societal interest.
