DELAY OF TAX SERVICES ‘OVERBLEW’ THE NUMBER OF SMALL AND MEDIUM-SIZED BUSINESS BY MORE THAN 90% IN ARMENIA
ArmInfo.
2009-12-17 14:36:00
ArmInfo. The procedures foreseen during dissolution of a company
may practically last for several months for the Armenian economic
entities, the investigation of the business-atmosphere of Armenia for
development of the woman’s business says. The Union of Industrialists
and Entrepreneurs od Armenia also took part in this investigation.
Sometimes the companies which applied for self-dissolution wait for
holding of the relevant audit for several months. The authors of
the investigation say that the situation contains corruption risks
as the acting legislation does not fix the terms over which audit
should be hold at such companies. As a result, at present there are
125 264 registered companies in Armenia, and only 1,6% or 2 thsd
of them are effectively working. The total of 50% out of the total
number of companies do not function or function a little.
In general, as the investigation says, the acting system does not
promote legal work of business, as the layer of the medium-sized
companies still remains not so big. ‘Generally, the economy consists
of the big companies as well as micro and macro enterprises. As a
result, the comparative volume of export of SMB remains small’, –
the investigation says. Inaccessibility of the credit funds also
hinders growth of companies. The interest rates still remain big
for the small and medium-sized business (15 – 24%), which do not
allow them to compete with big business. The small and Medium-sized
business is chiefly formed at the expense of private savings, which
at the certain stage are not enough for the growth of the company.The
businessmen-beginners do not have enough business skills. Shortage of
information in the region is still relevant today, which is deepened
because of bad infrastructures as well.