Small and medium sized enterprises are considered as of the principal
driving forces in economic development. SMEs stimulate private ownership and
entrepreneurial skills, they are flexible and can quickly adapt to changing market
demand and supply situations, they generate employment, help to diversify
economic activity and make a significant contribution to exports and trade as
well.
The SME sector has an important role in political, economic and social
development trends of Armenia. The achievements recorded in SME sector and
its continuous development has an extreme important role for the country from
social-economic development point of view.
One of priorities for development of the Armenian economy is considered
Small and Medium Entrepreneurship (SME) promotion. One of the basic
documents as for this policy is considered the Concept for SME Development
Policy and Strategy in Armenia adopted by the Government of Armenia in 2000.
In this document the economic, social and political objectives of SME
development policy as well as the main directions for their realization are
introduced. The adoption of the above-mentioned document provides
preconditions for adoption of the Law of Armenia On State Support of Small
and Medium Entrepreneurship, which in its turn for the first time defined the
criteria for SME units in the Republic of Armenia as well as the main directions
for state support of SME.