Abstract
The three transition economies of the South-Caucasus: Armenia, Azerbaijan and Georgia lie to the south of the principal Caucasian mountain range, and situated on the crossroads between Europe and Asia they absorbed the culture of both and cannot to this day decide with which they have greater affinity. During the last decade, tremendous progress has been made in the transformation and transition process towards a market economy. However, inadequate framework conditions and an unfavourable macroeconomic environment in the Caucasian region still have been impediments to entrepreneurship and private sector development. The present publication gives the characteristics of the SME sector in the Caucasus transition economies, provides information on SME definition, highlights the major legislative measures, laws, summarizes the support measures for SMEs, provides a SWOT analyses of the SME sector.
Similar content being viewed by others
References
Azerbaijan Investment Promotion and Advisory Foundation. “Doing Business in Azerbaijan 2005”, Brief Overview of Business Practices, New Investment Opportunities and Legal Environment, 2005
Bagirov, Sabit. President of Entrepreneurship Development Foundation of Azerbaijan, Presentation, Workshop on “SME development in the south-Caucasian transition economies”, 30–31 October 2003, Istanbul Turkey
Khmaladze, Konstantine. Deputy Director of the Center for Small and Medium Enterprise Development and Assistance of Georgia, Presentation, Workshop on “SME Development in the south-Caucasian transition economies”, 30–31 October 2003, Istanbul Turkey
Martirosyan, Rshtun. Executive director of the fund “Small and Medium Entrepreneurship Development National Center of Armenia”, Presentation, Workshop on “SME development in the south-Caucasian transition economies”, 30–31 October 2003, Istanbul Turkey
Ministry of Economic Development of the Azerbaijan Republic. “Economy of Azerbaijan,” 2005
Petrosyan, Anna. (2005) Leading Specialist of the Department for SME Development, Ministry of Trade and Economic Development of the Republic of Armenia, Presentation in the Sixth Session of the Working Party on Industry and Enterprise Development, of UNECE, 10–11 February, Palais Des Nations, Geneva, Switzerland
UNECE Report on “Small and medium-sized enterprises in the Caucasian countries in transition”, Series: Entrepreneurship and SMEs, 2003
UNECE Report on “Small and medium-sized enterprises in countries in transition”, Series: Entrepreneurship and SMEs, 2006, pp. 115
UNECE Report on “Small and medium-sized enterprises in the Caucasian countries in transition”, Experience of Armenia, Azerbaijan and Georgia, Series: Entrepreneurship and SMEs, ECE/TCU/2006/1, 2006, pp. 84
Author information
Authors and Affiliations
Corresponding author
Rights and permissions
About this article
Cite this article
Szabó, A., Petrosyan, A. Small and medium-sized enterprises in the Caucasian countries in transition. AEJ 5, 115–132 (2007). https://doi.org/10.1007/s10308-006-0070-6
Published:
Issue Date:
DOI: https://doi.org/10.1007/s10308-006-0070-6