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COMMERCIAL BANKS INCREASINGLY FAVOR SMALL & MEDIUM ENTERPRISES CREDITING: STUDY
October 15, 2013 - 17:28 AMT
PanARMENIAN.Net - At present, 80 000 small and medium-sized enterprises
(SMEs) are operating in Armenia, providing a GDP share of 40%. In
2013, the government of Armenia allocated AMD 150 million to develop
the sector.
Ameria consulting company conducted a research on Armenia's
small and medium-sized enterprises (SMEs). The study includes
the country's macroeconomic description, SMEs' characteristics,
relations with banking systems, review of necessity of consulting
and other professional services, regulation of the sector as well as
comparative analysis with other countries.
The study showed that the positive attitude of the enterprise owners
will promote the development of the sectors, despite slow growth in
micro businesses, Senior Research Specialist at Ameria CJSC Artashes
Shaboyan told during the research presentation.
As he noted, representatives of SMEs have though modest but positive
expectations for the next 1-3 years.
According to the study, Armenia's commercial banks favor the SMEs'
crediting, with 70% of credits provided in local currency (dram). The
average credit amount is AMD 8,5 million at an annual rate of 18,5%.
The rest of the credits were extended in U.S. dollars with the average
credit amount of $130 thous. at an annual rate of 14,5%.
Also, though realizing the necessity of consulting services, Armenian
SMEs chose not to use them in the absence of spare funds. According
to the study, only 31% of SMEs used professional services in the last
2 years.
Armenian SMEs are mostly reluctant to implement innovations, with
only 6% of them having announced about introducing innovations in
manufacturing of new products.
The study covers 1003 SMEs, with 655 operating in Yerevan, 144 - in
Gyumri, 152 - in Vanadzor, 52 - in Dilijan. 74,4% companies operate
micro businesses, 20,2% - small businesses, 5,1% - medium businesses.
According to the study, 47,6% SMEs are engaged in trade, 34,4% in
services sector, 15,5% - manufacturing, 2,2% - construction, with
trade prevailing among micro businesses - 55,2%.
http://www.panarmenian.net/eng/news/171330/
October 15, 2013 - 17:28 AMT
PanARMENIAN.Net - At present, 80 000 small and medium-sized enterprises
(SMEs) are operating in Armenia, providing a GDP share of 40%. In
2013, the government of Armenia allocated AMD 150 million to develop
the sector.
Ameria consulting company conducted a research on Armenia's
small and medium-sized enterprises (SMEs). The study includes
the country's macroeconomic description, SMEs' characteristics,
relations with banking systems, review of necessity of consulting
and other professional services, regulation of the sector as well as
comparative analysis with other countries.
The study showed that the positive attitude of the enterprise owners
will promote the development of the sectors, despite slow growth in
micro businesses, Senior Research Specialist at Ameria CJSC Artashes
Shaboyan told during the research presentation.
As he noted, representatives of SMEs have though modest but positive
expectations for the next 1-3 years.
According to the study, Armenia's commercial banks favor the SMEs'
crediting, with 70% of credits provided in local currency (dram). The
average credit amount is AMD 8,5 million at an annual rate of 18,5%.
The rest of the credits were extended in U.S. dollars with the average
credit amount of $130 thous. at an annual rate of 14,5%.
Also, though realizing the necessity of consulting services, Armenian
SMEs chose not to use them in the absence of spare funds. According
to the study, only 31% of SMEs used professional services in the last
2 years.
Armenian SMEs are mostly reluctant to implement innovations, with
only 6% of them having announced about introducing innovations in
manufacturing of new products.
The study covers 1003 SMEs, with 655 operating in Yerevan, 144 - in
Gyumri, 152 - in Vanadzor, 52 - in Dilijan. 74,4% companies operate
micro businesses, 20,2% - small businesses, 5,1% - medium businesses.
According to the study, 47,6% SMEs are engaged in trade, 34,4% in
services sector, 15,5% - manufacturing, 2,2% - construction, with
trade prevailing among micro businesses - 55,2%.
http://www.panarmenian.net/eng/news/171330/