Armenia's business people consider themselves innovative enough

YEREVAN, March 11. /ARKA/. Armenia's business people consider themselves innovative, and the country is among top ten in the world for this indicator, Tigran Jrbashyan, director of Ameria Management Consulting Service, said on Tuesday, presenting the results of the company's study for Global Entrepreneurship Monitor (GEM).

In 2019, Ameria CJSC became an exclusive partner of the Global Association for Enterprise Research (GERA) in Armenia. Under the agreement, a study of entrepreneurship was conducted in Armenia for the first time for the Global Entrepreneurship Monitor (GEM) report, the final results of which will be presented in April 2020. The report includes 54 countries.

Jrbashyan explained that Armenia's business people consider themselves innovative enough, but this is very weakly manifested in practice. “But the main thing is that the population believes,” he added.

As a remarkable indicator, Jrbashyan pointed out that 7-9% of the country's population recently provided money to another person to start a business.

"This is a very interesting indicator, for which Armenia is ranked 14th among more than 50 countries, and it shows that we are ready to provide money to others to start a business, but informally - to a friend, neighbor, acquaintances: we still trust people." Jrbashyan said refraining from evaluating whether it is good or bad.

At the same time, Jrbashyan noted that the proportion of those who left the business in terms of positive results is very low (41st rank among 50 countries), since in Armenia this is considered a very negative indicator and even sometimes tragic, which indicates the absence of a culture of leaving the business.

According to him, leaving the business is considered successful all over the world, when you can sell the business, live on this money or open a new one, while in Armenia this is considered a business failure and an excuse not to do business anymore.
 
As for the motivation for starting a business in order to change the world, he said, Armenia came fourth from the end - few business people in Armenia have such a desire.

He noted that the full report, which will be fully presented in April 2020, will be the first GEM study on entrepreneurship in Armenia.

“In fact, we can already say that among the important problems we can point out the exit from the business. We have significantly facilitated the registration and registration procedures, starting a business, but the exit procedures are very complicated, despite the fact that entrepreneurship implies not only entering the business, but also exiting "said Jrbashyan.

GEM is an authoritative annual study published continuously for 19 consecutive years. It is a reliable source of comprehensive indicators on entrepreneurship and business for country policy makers, as well as for international organizations such as the United Nations, the World Economic Forum, the World Bank and the Organization for Economic Co-operation and Development (OECD). Currently, more than 100 countries of the world are included in GEM studies, including Germany, Sweden, Switzerland, Ireland, Canada, the USA, as well as Iran, Russia, Turkey and Georgia.

Studies and relevant GEM reports provide an opportunity for policy makers and other interested parties to get the most detailed picture of the characteristics of business entities in this country and compare them with the development of entrepreneurship in other countries, which is one of the prerequisites for the implementation of more effective and better-justified actions for the development of the sphere.

Ameria CJSC is GERA's exclusive partner in Armenia for a period of 5 years.
 
Ameria is a leading consulting company in Armenia. It conducts large-scale events in various areas, such as corporate reorganization, mergers and acquisitions, legal consulting, direct and portfolio investments, business planning, strategic and tax planning, financial consulting, public administration and reforms.