ArmInfo. Out of 500 newly established companies in Armenia only one manages to grow further, while in Europe one out of 40-42 new enterprises becomes large. Armenian Minister of Economy Vahan Kerobyan stated this in his next interview.
In this context, he said that at this stage a large program is being prepared in Armenia to support small and medium-sized businesses. To do this, the Ministry is exploring the models of institutions to support the development of SMEs, which may be the most applicable in our country. According to the minister, SMEs in Armenia are very vulnerable, and as a result, this institution must run a business "hand in hand" during the entire incubation period, until it is established. "We must create an incubation tunnel in such a way that as many companies as possible grow through it," he said.
It should be reminded that earlier Vahan Kerobyan reported that the share of SMEs in the country's GDP does not even reach 30%. In this regard, he said that the Ministry has set itself an ambitious task - to bring this figure to 50%.
According to the RA Statistical Committee, in 2020, 78,530 micro-enterprises, 3,807 small businesses and 695 medium-sized businesses were registered in Armenia. The number of large companies in the country at the reporting date was 132. Turnover of micro-companies amounted to 1,632 517.5 million drams, small business - 1 158 181.3 million drams, medium business - 1 564 846.1 million drams, and large business - 2 358 366.1 million drams. Traditionally, the most SMEs in Armenia are involved in retail and wholesale trade, repair of cars and motorcycles (34.2%), and the smallest percentage is in the sector of water supply, waste management and treatment (0.1%).
