Strategies of the Development of Entrepreneurship and SME

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Trading Across Borders Enforcing Contracts Closing a BusinessRankDocuments for export(number)Time for export (days)Cost to export (US$ percontainer)Documents for import(number)Time for import (days)Cost to import (US$ percontainer)RankProcedures (number)Time (days)Cost (% of debt)RankTime (years)Cost (% of estate)Recovery rate (cents on thedollar)89 5 23 1,329 7 21 1,377 90 40 564 22.2 72 3.3 9 32.4Source: http://www.doingbusiness.org/customquery/ViewCustomReport.aspxTable 9. summarizes the procedures and costs associated with setting up a business inBulgaria.Table 9.No:12ProcedureCheck if chosen name is available at the IS/information services; get certificate for theregistered nameTime tocomplete:1 day (15 – 30minutes)Execute the minutes of the constituent meetingof the shareholders in the DOO; obtain a notarycertified statement of consent and signature1 day (30 min.)specimen of the manager, a non-competitionstatement of the manager vis-ƒ-vis the DOO, andtwo certified copies of3 Deposit paid-up capital in a bank 2 days45Pay the court fee at the to the bank account ofSofia City CourtRegister at the Commercial Register at theDistrict Court6 Publish in the State Gazette1 day12 days15 days, up toapproximately 3monthsCost to complete:BGN 100 BGN or 102BGN (by phone)BGN 3 per signature,BGN 2 for the firstpage of a documentand BGN 1 for eachfollowing page7 Make a company seal 1 day BGN 40Register with BULSTAT within 7 days of court8registration1 day (30 min.) BGN 601 day (filing),9 Register for VATabout 12 days for no chargefinal registrationBGN 10 - 30 BGN(depending on thebank)BGN 121.50 - state feefor court registrationIncluded in procedure4BGN 30 - state fee forstandard procedureSource: http://www.doingbusiness.org/ExploreTopics/StartingBusiness/Details.aspx?economyid=3032
3.2.3. SME SUPPORT INFRASTRUCTUREA number of public institutions and non-governmental organizations support the smalland medium-size enterprises in their business. Over the recent years non-governmentalorganizations play a very active role both in the formulation of the policy for promotion of SMEsand in the organization of public debates on the problems in the SME sector. Businessassociations set up in support of SMEs still do not protect actively the interests of SMEs and donot adequately perform one of their major functions – to inform their members of legislativechanges affecting the SME sector, European requirements to small and medium-sizeenterprises and available programs on national and supranational level in support of the sector.The main institutions in the governmental sector working in support of SMEs are:• Executive Agency for Promotion of SMEsThe new Bulgarian Small and medium-size Enterprises Promotion Agency (BSMEPA) was set upin September 2004. It is the successor of the former Agency for Small and Medium-sizeEnterprises and the Executive Agency for Promotion of Trade. An important element in theactivities of the Agency is the active role of the regional units, which at the moment are 26.The main purpose is an adequate response from those units as to the entrepreneurs` needs forquick and qualitative services. A good decision is the partnership between the public andprivate sector including nongovernmental business organizations, which could be delegatedcertain rights as to the private offering of public services to SMEs.• Bulgarian Export Insurance Agency (BAEZ)The Bulgarian Export Insurance Agency provides services that allow Bulgarian exporters tooffer their international customers deferred payment at a reduced risk. It was established inOctober 1998, the government being the major shareholder with 99 per cent capital interest.The goal of BAEZ is to support Bulgarian exports on international markets. BAEZ has signedcooperation agreements with over ten commercial banks. It is an analogue of the agencies forexport insurance in developed countries that have been in existence for decades.• InvestBulgaria Agency (IBA)The InvestBulgaria Agency is a government body with the Council of Ministers for coordinationof government institutions activities in the area of investments. IBA renders assistance for theencouragement, attraction, and support to investors and priority investment projects. IBAsupports the activities of central and local authorities, Bulgarian and foreign individuals andlegal entities in the implementation of investment projects; it keeps and maintains the UnifiedInformation System on Foreign Investments where data is collected on the foreign investmentsin the country. IBA maintains a database with projects of Bulgarian SME looking for foreignpartners.• Employment AgencyThe Employment Agency is a body for the implementation of the government policy forencouragement of employment, protection of the labor market, professional information andconsulting, vocational and motivation training of unemployed and employed, as well as forintermediation for information and job finding.The main business organizations in the non-governmental sector working in support toSME are:• National Association of Small and Medium-sized BusinessThe Mission of the National Association of Small and Medium-sized Business is to assist for theestablishment of favorable economic environment for development of small and medium-sizeenterprises and raising their competitiveness. In the course of accomplishing its mission, theAssociation represents its members in the dialogue with the central and local authorities as well33
Page 4 and 5: 1. SME DECLARATION AND WORKING GROU
Page 6 and 7: While comparing the BSEC and EU doc
Page 8 and 9: cooperation with the United Nations
Page 10 and 11: GENERAL ASSESSMENT OF THE BSEC WG O
Page 12 and 13: “Armenia's new law introduces a n
Page 14 and 15: (iii)Share of the labor force of SM
Page 16 and 17: The following data represents some
Page 18 and 19: RankDocuments for export(number)Tra
Page 20 and 21: • Industrial zones/Business incub
Page 22 and 23: 3.1.4. FINANCING SMEsProf. Dr. Sela
Page 24 and 25: • the loan is secured with movabl
Page 26 and 27: 3.1.4.3. Mutual and loan guarantee
Page 28 and 29: introduction of e-signatures, only
Page 30 and 31: The Code of Conduct for Civil Serva
Page 34 and 35: as with all non-governmental organi
Page 36 and 37: Bulgarian SMEs obtain additional ca
Page 38 and 39: • Project BG 2004/016-711.11.04 -
Page 40 and 41: usiness is not approaching them oft
Page 42 and 43: • Romanian citizens are recognize
Page 44 and 45: The preparatory project of the NDP
Page 46 and 47: • To support participation in eco
Page 48 and 49: In 2004, the National Institute of
Page 50 and 51: Incubators host on average 11 SME,
Page 52 and 53: Programs. The program is implemente
Page 54 and 55: development instrument is extremely
Page 56 and 57: accounting standards, including med
Page 58 and 59: corporations and open held corporat
Page 60 and 61: promoting SME sector, cooperation w
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
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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
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The same problem exists in getting
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SME support infrastructure in Armen
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5 million was provided by UNDP and
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5.3 DEVELOPMENT OF THE SME SECTOR I
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Diagram 1. The number of small ente
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The privatization process of object
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13.Cabinet Provision on “Distribu
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5.3.3. SME support infrastructure i
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The role of the state in technical
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General situation of credit marketT
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After creation and starting impleme
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At the meantime, small enterprise s
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Table. 32.Ease of businessDoingBusi
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people who start small businesses t
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are salaried and the medium - sized
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Technology Foresight in Greece 2001
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Greek VC market started to develop
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In the area of bankruptcy and restr
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enterprises. According to TURKSTAT,
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small size enterprise or micro ente
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industrial enterprises. Undersecret
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individuals, rather than well struc
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7. SUGGESTIONS FOR THE SME DEVELOPM
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Annex 1.MAP OF THE BLACK SEA COUNTR
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17-18 June 2005 1 st Moscow Interna
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ARMENIASTRENGTHS• Application of
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BULGARIASTRENGHT• Flexibility and
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GREECESTRENGHT• They have a vital
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ROMANIASTRENGHTWEAKNESS• Stabilis
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REPUBLIC OF SERBIASTRENGHT• Longe
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UKRAINESTRENGTHS• Well educated l
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In compliance with the Resolution m
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1. Please provide definition of SME
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7. Did you establish a dedicated bo
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11. Do you have any suggestions for
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Strategies of the Development of Entrepreneurship and SME

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