Strategies of the Development of Entrepreneurship and SME

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ARMENIASTRENGTHS• Application of core principals and directionsof SME development in the result ofefficient implementation of SME Statesupport annual programs;• Provision of SME state support throughoutArmenia via efficient operation of centraland regional subsidiaries of the Small andMedium Entrepreneurship DevelopmentNational Centre of Armenia (SME DNC ofArmenia, established in March 2002 by theGovernmental Decree);• Growing share of SME sector in thecountry’s GDP and other macroeconomicindicators;• Registering property needs less number ofsteps in the BSEC region• Transparent evaluation report on the SMEState Support Annual Programs available onnetWEEKNESSES• Unfriendly tax administration;• Poor access of SMEs to financial resources;• Lack of alternative financial sources forSMEs;• Lack of managerial skills of SME leadersespecially in the regions of Armenia;• Deficient level of mid and inter-regionaleconomic cooperation between SMEs;OPPORTUNITIES• The continuous and targeted SMEdevelopment policy will strengthen SMEstate support system, as well as enlargedirections, increase volume and geographyof technical and financial support to SMEs;• Enlargement of the scope for internationalcooperation (EU countries andinternational/foreign organizations) willprovide an opportunity to implement newprojects and apply efficient mechanisms fordevelopment of SME sector on a newqualitative phase;• Membership of Armenia to World TradeOrganization (WTO) enhances theopportunities for number of SMEs to enterforeign markets.•THREATS• Bureaucracy and corruption are seen as one ofmajor threats hindering the development ofSMEs;• Threat for unstable situation around Armeniaand unregulated regional conflicts;• High polarization for income distribution ofpopulation;Source:(1) Antal Szabó – Anna Petrosyan: SMEs in the Caucasian countries in transition. Spinger-Verlag2006.(2) Review by Anna Petrosyan, Representative of the Ministry of Trade and Economic Development(3) World Bank Doing Business 2008, Economic Ranking142
AZERBAIJANSTRENGTHS• Political and economic stability;• Government’s full support forentrepreneurship;• Easy enterprise registration procesure;• Entrepreneurial skills and attitude ofpopulation toward entrepreneurship isrelatively high;• Creation of legal basis for SMEs activity;• State support mechanism toentrepreneurship;• Low share of the population in poverty.OPPORTUNITIES• Favourable geographical location of thecountry;• Favourable climate conditions fordevelopment of tourism sector;• The newly established Business Councilcould make recommendations in order toimprove the business climate;• Good economic environment for directforeign investments;• Possibility of cooperation and doingbusiness with the neighbouring South-Caucasian countries and countries of theSPECA region;• Possibility of becoming a supplier ofTransnational Corporations (TNC) in the oiland oil related industries;WEAKNESSES• Sectoral structure of SMEs does not meet thecountry’s production potential;• Predominance of individual and familyenterprises in entrepreneurship sector;• Unsatisfied support mechanism for start-ups;• Poor coordination of institutional changes,economic modernization and technologicalrenovation of economy;• Lack of credit guarantee system for SMEs;• Lack of business incubators;• Low SMEs share in export;• Underdeveloped market infrastructure;• Weak cooperation relations of MultinationalCompanies with local providers andproducers;• Lack of quality consciousness.THREATS• The Nagorno-Karabakh conflict andoccupation of Azerbaijan’s territories byArmenia that threatens the political, economicand social stability and absorbs significantfinancial resources;• The Government does not provide sufficientfinancial support from the oil resources,which could provide less favorite environmentfor SME development in long-term;.• High rate of the shadow economy;• Low-effective mechanism of solution ofbusiness disputes and economic conflicts.Source:(1) UNECE, Geneva, 2005(2) Alakbar Mammedov, National Confederation of Entrepreneurs (Employers’) Organizations,2007143
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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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promoting SME sector, cooperation w
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• for unemployed (micro credit)
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are private pension funds, broker h
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very early steps of its democratic
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Another negative factor that is mor
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economy. The so called in the organ
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Federal funds, private capital, esp
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4.3. MOLDOVATable 14.Dimensions Neg
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Related andsupportingindustriesDome
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Technological:Internetaccessibility
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Domesticdemand• Still not many pe
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international investments• Govern
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3. Hamel, G., Prahalad, C.K. (1994)
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5.2 DEVELOPMENT OF THE SME SECTOR I
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General Characteristic of SME Devel
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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 110 and 111: General situation of credit marketT
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 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
Page 160: 11. Do you have any suggestions for
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Strategies of the Development of Entrepreneurship and SME

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