A proposed amendment in Egypt’s Parliament would expand the legal definition of small and medium-sized enterprises to cover digital businesses, creative industries, social entrepreneurship and heritage crafts.
The bill was submitted by MP Marcel Semir, with the support of more than 10 other lawmakers, to amend parts of Law No. 152 of 2020 on the development of medium, small and micro enterprises.
Under the proposal, software companies operating remotely, e-commerce platforms, app developers, cloud service providers, digital content businesses and new media companies could be explicitly included within the law’s scope, even when they do not operate from traditional premises.
The proposed financial thresholds would classify medium-sized businesses as those with annual revenues between EGP 100 million and EGP 400 million. Small businesses would have annual revenues of at least EGP 2 million and below EGP 100 million, while micro businesses would generate less than EGP 2 million. Separate capital criteria would apply to newly established businesses.
The bill would also bring activities such as design, visual arts, software, video games, digital content and innovative handicrafts under the entrepreneurship framework. It also recognises social enterprises focused on social or environmental challenges.
In addition, business accelerators could receive a broader role in helping companies study foreign markets, identify export opportunities, join international exhibitions and manage shipping, export and quality requirements.
Source: Parlmany
