Armenia's small and medium-sized businesses market estimated by banks at AMD 900 billion
10.03.2020,
17:08
The market of small and medium-sized businesses in Armenia is estimated by banks at 900 billion drams (about $ 1.88 billion), Tigran Jrbashyan, director of Ameria Management Consulting Service, said on Tuesday presenting the results of the company's SME market study.
YEREVAN, March 10. /ARKA/. The market of small and medium-sized businesses in Armenia is estimated by banks at 900 billion drams (about $ 1.88 billion), Tigran Jrbashyan, director of Ameria Management Consulting Service, said on Tuesday presenting the results of the company's SME market study.
Ameria CJSC conducted a study of small and medium-sized businesses in Armenia in March-May 2019 based on surveys of 729 SMEs in 5 cities of Armenia - Yerevan, Vanadzor, Gyumri, Armavir and Echmiadzin. Of them, 93.8% are micro-businesses, 51% are small and about 1% are medium-sized businesses. Prior to that, a similar study was conducted in 2013.
"The study shows that the relationship of SMEs with banks has improved significantly compared to 2013. In general, the policy of Armenian banks has changed, which made the SME sector more targeted for development," Jrbashyan said.
According to him, Armenian banks have already invested $ 2 billion in SMEs, and this sector continues developing. He noted that over the past three years, about 86% of SMEs began to work with banks, and many of them also in provinces. According to Jrbashyan, today banking services for SMEs are in great demand in Gyumri, the second biggest city of Armenia.
Jrbashyan also noted that about 96-98% of loans for SMEs are funds lent on pledge, which indicates that businesses have no problems with pledge. At the same time, he pointed out that in the provinces the rate of using remote banking services is still very low, and entrepreneurs prefer to work with branches.
"This is a very good signal, which indicates that SMEs show a great demand for professional services, many of them are interested in accounting services, management consulting and development of business plans and marketing services," Jrbashyan said.
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.
Ameria Consulting Company, a member of the Ameria Group, offers independent confidential and impartial consulting services in five areas: business, financial, accounting and tax, legal, and investment consulting.–0—
Ameria CJSC conducted a study of small and medium-sized businesses in Armenia in March-May 2019 based on surveys of 729 SMEs in 5 cities of Armenia - Yerevan, Vanadzor, Gyumri, Armavir and Echmiadzin. Of them, 93.8% are micro-businesses, 51% are small and about 1% are medium-sized businesses. Prior to that, a similar study was conducted in 2013.
"The study shows that the relationship of SMEs with banks has improved significantly compared to 2013. In general, the policy of Armenian banks has changed, which made the SME sector more targeted for development," Jrbashyan said.
According to him, Armenian banks have already invested $ 2 billion in SMEs, and this sector continues developing. He noted that over the past three years, about 86% of SMEs began to work with banks, and many of them also in provinces. According to Jrbashyan, today banking services for SMEs are in great demand in Gyumri, the second biggest city of Armenia.
Jrbashyan also noted that about 96-98% of loans for SMEs are funds lent on pledge, which indicates that businesses have no problems with pledge. At the same time, he pointed out that in the provinces the rate of using remote banking services is still very low, and entrepreneurs prefer to work with branches.
"This is a very good signal, which indicates that SMEs show a great demand for professional services, many of them are interested in accounting services, management consulting and development of business plans and marketing services," Jrbashyan said.
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.
Ameria Consulting Company, a member of the Ameria Group, offers independent confidential and impartial consulting services in five areas: business, financial, accounting and tax, legal, and investment consulting.–0—
