Small and Medium Entrepreneurship (SME) sphere is considered as one of priority directions for development of Armenian economy. The Government of RA performs continues steps towards the development of SME sphere, particularly towards the direction for creation of state support system for SME.
SME development policy is aimed at full value utilization of the potential of SME sphere in the context of economic, social and political development of the Republic of Armenia and enhancement of its role as well. One of the basic documents as for this policy is considered the document “Concept for SME Development Policy and Strategy in Armenia” adopted by the Government of RA in August 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 RA “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 basic directions for state support of SME.
Since 2001 annual programs for state support of SME are being elaborated and implemented. These programs are aimed at realization of the main directions for state support of SME sphere fixed by the Law of RA on “State Support of Small and Medium Entrepreneurship”.
The Ministry of Economy of the Republic of Armenia is authorized to elaborate SME development policy and strategy in Armenia as well as it’s considered as responsible body for elaboration of programs for development and state support of SME sphere in Armenia.
Within the scope of the Program for State Support of SME for 2002, upon the decree N282 of the Government of RA dated March 19, 2002 as a program measure the Fund “Small and Medium Entrepreneurship Development National Center of Armenia” (SME DNC of Armenia) was established. It is considered as the main body responsible for implementation of state policy for SME sphere in Armenia as well as programs directed towards the development of SME sphere.
Contemporary infrastructures and operating mechanisms of SME support in Armenia have created necessary preconditions for SME perspective development targeted at support of science-based and innovation-oriented industries, development of favorable conditions for transfer of technologies as well as expansion of foreign economic activities of SME units.
Foreign and international organizations (projects) play considerable role in the process for elaboration and implementation of SME development and support programs (projects) in Armenia.