YEREVAN. – Amid the global crisis, development of small and medium-sized business is a key factor, especially for such a country as Armenia which is not rich in natural resources 

Pavel Sigal, President of the Center of Microfinancing and chairman of coordination council on small and medium-sized business in Tatarstan, is confident that the state must not support only the IT companies but those which are background of small business: the companies dealing with trade and services.

“Small business must be regarded not as micro business or private business, but a social entity,” he told Armenian News-NEWS.am.

“If a family is being engaged in some productive work, is creating added value and is not leaving the country, it already has the greatest benefit. In this context, support for any small business is a key factor,” he emphasized, adding that liberal legislation and low taxes are a necessary prerequisite for SMBs development.