MAIN DIRECTIONS OF SUPPORT OF SMALL AND MEDIUM ENTREPRENEURSHIP BY THE STATE IN A STRATEGIC ROADMAP

  • Elshen Sabir oglu Mamedov
Keywords: economy of Azerbaijan, organization of small and medium-sized business, state policy in the sphere of business, legal and regulatory framework of business in Azerbaijan, Strategic Roadmap

Abstract

The paper considers the main directions of the Strategic Roadmap adopted in 2016 which provides for the development of small and medium-sized businesses in Azerbaijan. In particular, the author mentions the measures taken by the state to support small and medium entrepreneurship. It should be noted that the Strategic Roadmap for the production of consumer goods at the level of small and medium entrepreneurship in the Republic of Azerbaijan specified particular tasks, identified various economic issues, and showed the ways of their solution. The main purpose of the paper is to make suggestions regarding the achievement of targets specified by the Strategic Roadmap. The author grouped the problems existing in the small and medium-sized entrepreneurship system, the main of which is their small share in GDP, the insufficient access to financial support, poor integration of their activities, low competitiveness, etc. The main recommendations for the solution of these problems include the improvement of legal regulatory acts, the strengthening of organizational and economic support, the deepening of specialization, quality improvement, and the creation of more developed business plans. The paper emphasizes that the technique of calculation of the increase in the efficiency of specified indices of small and medium-sized businesses was put forward for further perspective. It should be kept in view that small and medium-sized businesses are thinly represented in the financial market of Azerbaijan. In this regard, the author analyzes the process of formation of financial resources as one of the main problems and evaluates the possibility of access of small and medium-sized businesses to the financial markets. The target indicators for the development of small and medium-sized businesses for a short-term period show that their achievement by 2020 will depend on the efficiency of a number of indices. The suggestions exposed in the paper are directly aimed at further, more dynamical development of small and medium-sized business in the country.

Published
2019-06-27
Section
Economical Sciences