The 1st annual report of the Observatoire du financement des entreprises par le marché
Financing companies - 23 June 2011
The 2010 annual report of the Observatoire du financement des entreprises par le marché (Research institute on the financing of companies by the financial market) was given in to Christine Lagarde on 15 June.
It presents the results of the financing of the small and medium-sized enterprises (SME) and intermediary-sized ones (entreprises de taille intermédiaire – ETI) by the financial market, as well as the realizations of French financial market players to boost this segment.
The report shows the improvement of the financing of the SME and the ETI* by the financial market in a deteriorated economic and financial background:
- The financial markets contributed actively to the financing of the SME and ETI in 2009 and 2010;
- The initial public offerings of SME started again in 2010, with 24 IPO;
- In spite of the financial crisis, the number of SME and ETI quoted on the stock exchange remained stable (574 companies);
- These financing contributed to the competitiveness of the SME and ETI.
Christine Lagarde entrusted Gérard Rameix, the Credit Mediator, and Thierry Giami (Caisse des Dépôts), being the President of the Observatoire du financement des entreprises par le marché, with a dialogue and propositions mission in connection with all the players of the Place about an effective and available financing of the SME and ETI by the financial markets in a context of the increasing internationalization of the stock exchanges.
A general interest mission in the service of SME and ETI
The Observatoire du financement des entreprises par le marché is aimed at facilitating the access of the SME and the ETI to the financing by the capital markets. Gathering the financial Place, the financial market industry and entrepreneurs' organizations, it intervenes on all the subjects relative to this financing.
The Observatoire du financement des entreprises par le marché was established on 30 June 2010 by the Ministry of the Economy, Finance and Industry (represented by the Treasury general management), the Bank of France, the Credit Mediator, the Autorité des marchés financiers (Financial Markets Authority - AMF), MiddleNext, NYSE Euronext, the Medef and Caisse des Dépôts.
It includes associate members: the CGPME, Oséo Financement, the Paris Europlace and the Asmep-ETI.
It is chaired by Caisse des Dépôts.
It has a Scientific Orientation Comity, chaired by the Bank of France, and a Financial Analysis Comity, chaired by the President of the Observatoire du financement des entreprises par le marché.
Its Director General is Gilles Demonet (Caisse des Dépôts).
Download the 2010 Annuel Report of the Observatoire du financement des entreprises par le marché
* ETI: medium-sized company, which empoys less than 5,000 persons, and whose annual turnover does not exceed €1.5bn or whose total of the balance sheet does not exceed €2bn.
Created in 1987, MiddleNext is the French professional association representative of the medium assets quoted on Euronext and Alternext of NYSE-Euronext. It mobilizes and federates more than 150 quoted small and medium companies, the capitalization of which does not exceed €2bn, in all the business sectors.
Created in 1993, the Paris Europlace association promotes the attractiveness of the Paris financial centre of and contributes to its European and international brilliance. It federates and represents a very big variety of players. Among the 150 French establishments (75 %) and international ones (25 %) members of Paris Europlace are banks, financial intermediaries, investors, insurance companies, law firms, chartered accountants, consulting firms and professional associations.