Strategies of the Development of Entrepreneurship and SME
Strategies of the Development of Entrepreneurship and SME
Strategies of the Development of Entrepreneurship and SME
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32.93435.1312003 2004 2005 2006Chart 2: Share <strong>of</strong> <strong>SME</strong> sector’s employees in number <strong>of</strong> economically activepopulation engaged in economy, 2003-2006 (%)Figures in Table 18. illustrate <strong>the</strong> share <strong>of</strong> <strong>SME</strong>s in foreign trade turnover for 2003-2006. 29Share <strong>of</strong> <strong>SME</strong>s <strong>and</strong> large enterprises in foreign trade turnover for 2003-2006 [%]Table 18.Indicator2003 2004 2005 2006<strong>SME</strong>s Large <strong>SME</strong>s Large <strong>SME</strong>s Large <strong>SME</strong>s LargeExport 14.3 85.7 15.7 84.3 16.4 83.6 16.9 83.1Import 31.6 68.4 34.8 65.2 36.3 63.7 36.8 63.2According to statistical analysis, in 2006 <strong>the</strong> participation <strong>of</strong> <strong>SME</strong> sector in exportreached to 16.9%, although large enterprises are still dominating in foreign trade. Consideringthis issue it should be argued that one <strong>of</strong> <strong>the</strong> main reasons <strong>of</strong> <strong>the</strong> <strong>SME</strong>’s low share in <strong>the</strong>mentioned macroeconomic indicator is connected with orientation to internal market, sincegenerating part <strong>of</strong> Armenian <strong>SME</strong>s is not able to satisfy <strong>the</strong> main requirements <strong>of</strong> externalmarkets <strong>and</strong> continuously faced with number <strong>of</strong> obstacles created mostly by legislative <strong>and</strong>bureaucratic features <strong>of</strong> export-import procedures.Index <strong>of</strong> <strong>SME</strong> <strong>Development</strong> in Armenia as an overall (aggregate) economic indicator,which was estimated according to methodology determined by <strong>the</strong> United Nations EconomicCommission for Europe (UNECE), according to data for 2006 has composed 237.2: comparedwith <strong>the</strong> level <strong>of</strong> 2003 it has increased about 3 times. The dynamics <strong>of</strong> <strong>the</strong> Index for 2003-2006, is shown in Table 14. 3029 <strong>SME</strong> sector in Armenia 2003-2004 “, “ <strong>SME</strong> sector in Armenia 2004-2005”, “ <strong>SME</strong> sector in Armenia 2005-2006” ReferenceBook , <strong>SME</strong> DNC <strong>of</strong> Armenia30 <strong>SME</strong> sector in Armenia 2003-2004“, “ <strong>SME</strong> sector in Armenia 2004-2005”, “<strong>SME</strong> sector in Armenia 2005-2006” Reference Book, <strong>SME</strong> DNC <strong>of</strong> Armenia89