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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<strong>SME</strong> support infrastructure in ArmeniaScheme 1Government <strong>of</strong> <strong>the</strong>Republic <strong>of</strong> Armenia<strong>SME</strong> DNC <strong>of</strong> Armeniawith <strong>the</strong> central <strong>of</strong>fice inYerevan <strong>and</strong> subsidiaries <strong>and</strong>representations in <strong>the</strong> regionsNGOs representing<strong>the</strong> interests <strong>of</strong>entrepreneurs“Andron”TechnoparkBusinessServiceProviders(BSPs)<strong>SME</strong>sBanking <strong>and</strong>non-bankingfinancialinstitutionsWB EnterpriseIncubator(IT sector)Armenian<strong>Development</strong>Agency(ADA)International <strong>and</strong> foreignorganizations running <strong>SME</strong>support activities in ArmeniaIt must be noted that one <strong>of</strong> <strong>the</strong> most important component for <strong>the</strong> <strong>SME</strong> supportinfrastructure, such a business incubators <strong>and</strong> technoparks have a quite insufficient number inArmenia. Enterprise Incubator Foundation focuses its activity on assisting Armenian technologyfirms in a variety <strong>of</strong> areas including business development, marketing <strong>and</strong> promotion,management, accounting <strong>and</strong> finance, legal <strong>and</strong> o<strong>the</strong>r directions. Taking into consideration <strong>the</strong>criteria for definition <strong>of</strong> <strong>SME</strong>s in Armenia, it can be concluded that companies engaged in ITsector are mainly <strong>SME</strong>s, but it is obvious that <strong>the</strong>se companies by <strong>the</strong>ir financialresults/turnover are far from being <strong>SME</strong>s.The “Andron” technopark, was established in <strong>the</strong> scope <strong>of</strong> <strong>the</strong> <strong>SME</strong> state supportprogram for 2004 <strong>and</strong> during <strong>the</strong> 3 years <strong>of</strong> its activity could attract only a limited number <strong>of</strong>tenants.Banking system is still far from being a sound part <strong>of</strong> <strong>SME</strong> support infrastructure inArmenia having into consideration <strong>the</strong> risk factor still existing while making decisions forfinancing <strong>SME</strong>s. Only some banks which collaborate with <strong>the</strong> <strong>SME</strong> DNC <strong>of</strong> Armenia in terms <strong>of</strong>94