Strategies of the Development of Entrepreneurship and SME

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General situation of credit marketTable 31.2001 2002 2003 2004 2005 2006Number of banks 53 46 46 44 44 44Non-bank organizations 63 47 58 70 85 94Credit unions 45 55 68 77Total credits 486.2 520.2 670.3 989.6 1,440.9 2,362.7Share of short-term credits 72.8 72 72.7 70.8 63.4 48.3Financing intermediaries- Azeri Bank of Microfinancing;- Kreditanstalt fuer Wiederaufbau (KfW) established the German-Azerbaijan Fund (GAF)- National Fund to Support for Entrepreneurship;- Credit Agency for Agricultural credit;- Eurasian Foundation: SME lending program;- FINCA Azerbaijan: micro credits;- World Vision Azerbaijan;- European Bank for Reconstruction and Development: Small and Medium BusinessDevelopment program;- World Bank;- OXFAM Azerbaijan: micro credits;- Commercial Banks5.3.5 Tasks for improvement and further development of the SME sector in thecountry.Azerbaijan government basing of the principles such as regularity, systematic, orientedand priority in SME sector development in the framework of bilateral cooperation relationsjointly with private and public sectors consider implementing the following objectives:1. With the purpose of monitoring and improvement of the legislative base regulating theentrepreneurial activity:- in order to facilitate the state registration system of entrepreneurial subjects theMinistry of Taxes of Azerbaijan Republic was selected as a organ for registration processand from the beginning of 2008 “One Window” system will be applied;- improvement of tax payment system, especially, application of electron tax declarationmechanism, broadening the coverage circle of simplified tax system in SME sector;- improvement of application of licensing and permission system;- establishment of sound competitive environment and adoption of “Competition Code” inorder to improve the antimonopoly regulation mechanism.2. With the purpose of improvement of infrastructure provision system of entrepreneurship:- to accelerate the establishment of special economic zones;- to broaden the agro service network.3. With the purpose of improvement of the specialists’ training system and information,consulting supply for entrepreneurship:- establishment of information database (KOS-NET) on the products and servicesproduced in the country;- acceleration of the process to establish the necessary infrastructure (roads, electricity,gas and water supply) in the country in order to guarantee the continuous activity ofentrepreneurial subjects operating in production sector;110
- training of specialists (improvement of activity of vocational training schools, training ofstudents in foreign institutes using the state financial budget, training of managers in EUcompanies, etc.).4. With the purpose of improvement of SMEs financial supply:- to increase the volume of financial contribution from the state budget to the NationalFund for Support to Entrepreneurship;- to stimulate the commercial banks to make their financial recourses available for SMEs;- Stimulation of leasing activity;- Development of stock exchange.5. With the purpose of development of state - entrepreneur relations and improvement ofprotection mechanism of entrepreneurs’ rights:- prevention of state officials from engaging with the entrepreneurial activity;- protection of entrepreneurs’ rights at courts.6. With the purpose of strengthening the foreign economic activity of entrepreneurs:- to guarantee the transparency in export–import operations;- to increase the efforts for acception to WTO.5.4 DEVELOPMENT OF THE SME SECTOR IN GEORGIA 37Georgia has passed the first and the hardest stage of its economic reforms – legaldismantling of large part of state property and privatization. State property was privatized;financial, monetary and banking systems were changed. Amendments made influence on everyeconomic and social institute.Georgia's economic performance continues to be strong, but signs of overheating arebeginning to emerge. Economic growth during the first six months of 2007 was 12.5 percent,which is impressive given the external shocks associated with Russia's economic embargoalong with higher energy and food prices. Growth for 2007 as a whole will likely be in the rangeof 12-13 percent. It seems likely that private capital inflows will exceed USD 2 billion in 2007,although recent political developments add considerable uncertainty to the projected volume ofinflows for the remainder of this year and 2008. 38In spite of the high interest for foreign direct investment and international race amongcapital investors to getting in, the Georgian Government still neglects the SME sector, whichresulted in growing unemployment, poverty and corruption.The USAID estimates the shadow economy in the country between 26-35 percent. 395.4.1. SME sector developmentSME sector has an important role in creating and functioning of market economy inGeorgia. This sector is one of the priorities in the state economic policy. Great efforts havebeen done to promote institutional base of SME sector, increase the efficiency of SME supportsystem and improve investment friendly environment as well.37 Prepared by Dr. Antal SZABÓ, UN ret. Regional Adviser on Entrepreneurship and SMEs, Scientific Director ofERENET38IMF Press Release No. 07/258 as of 14 November 2007.39 Georgia Enterprise Growth Initiative. SME Environment Assessment, 14 February 2005.111
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1. SME DECLARATION AND WORKING GROU
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While comparing the BSEC and EU doc
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cooperation with the United Nations
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GENERAL ASSESSMENT OF THE BSEC WG O
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“Armenia's new law introduces a n
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(iii)Share of the labor force of SM
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The following data represents some
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RankDocuments for export(number)Tra
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• Industrial zones/Business incub
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3.1.4. FINANCING SMEsProf. Dr. Sela
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• the loan is secured with movabl
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3.1.4.3. Mutual and loan guarantee
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introduction of e-signatures, only
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The Code of Conduct for Civil Serva
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Trading Across Borders Enforcing Co
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as with all non-governmental organi
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Bulgarian SMEs obtain additional ca
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• Project BG 2004/016-711.11.04 -
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usiness is not approaching them oft
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• Romanian citizens are recognize
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The preparatory project of the NDP
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• To support participation in eco
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In 2004, the National Institute of
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Incubators host on average 11 SME,
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Programs. The program is implemente
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development instrument is extremely
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accounting standards, including med
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corporations and open held corporat
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Page 62 and 63: • for unemployed (micro credit)
Page 64 and 65: are private pension funds, broker h
Page 66 and 67: very early steps of its democratic
Page 68 and 69: Another negative factor that is mor
Page 70 and 71: economy. The so called in the organ
Page 72 and 73: Federal funds, private capital, esp
Page 74 and 75: 4.3. MOLDOVATable 14.Dimensions Neg
Page 76 and 77: Related andsupportingindustriesDome
Page 78 and 79: Technological:Internetaccessibility
Page 80 and 81: Domesticdemand• Still not many pe
Page 82 and 83: international investments• Govern
Page 84 and 85: 3. Hamel, G., Prahalad, C.K. (1994)
Page 86 and 87: 5.2 DEVELOPMENT OF THE SME SECTOR I
Page 88 and 89: General Characteristic of SME Devel
Page 90 and 91: Index of SME Development in Armenia
Page 92 and 93: The same problem exists in getting
Page 94 and 95: SME support infrastructure in Armen
Page 96 and 97: 5 million was provided by UNDP and
Page 98 and 99: 5.3 DEVELOPMENT OF THE SME SECTOR I
Page 100 and 101: Diagram 1. The number of small ente
Page 102 and 103: The privatization process of object
Page 104 and 105: 13.Cabinet Provision on “Distribu
Page 106 and 107: 5.3.3. SME support infrastructure i
Page 108 and 109: The role of the state in technical
Page 112 and 113: After creation and starting impleme
Page 114 and 115: At the meantime, small enterprise s
Page 116 and 117: Table. 32.Ease of businessDoingBusi
Page 118 and 119: people who start small businesses t
Page 120 and 121: are salaried and the medium - sized
Page 122 and 123: Technology Foresight in Greece 2001
Page 124 and 125: Greek VC market started to develop
Page 126 and 127: In the area of bankruptcy and restr
Page 128 and 129: enterprises. According to TURKSTAT,
Page 130 and 131: small size enterprise or micro ente
Page 132 and 133: industrial enterprises. Undersecret
Page 134 and 135: individuals, rather than well struc
Page 136 and 137: 7. SUGGESTIONS FOR THE SME DEVELOPM
Page 138 and 139: Annex 1.MAP OF THE BLACK SEA COUNTR
Page 140 and 141: 17-18 June 2005 1 st Moscow Interna
Page 142 and 143: ARMENIASTRENGTHS• Application of
Page 144 and 145: BULGARIASTRENGHT• Flexibility and
Page 146 and 147: GREECESTRENGHT• They have a vital
Page 148 and 149: ROMANIASTRENGHTWEAKNESS• Stabilis
Page 150 and 151: REPUBLIC OF SERBIASTRENGHT• Longe
Page 152 and 153: UKRAINESTRENGTHS• Well educated l
Page 154 and 155: In compliance with the Resolution m
Page 156 and 157: 1. Please provide definition of SME
Page 158 and 159: 7. Did you establish a dedicated bo
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11. Do you have any suggestions for
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