Page 46 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.79, # 1, 2022, pp. 34-49

Re-orient and adjust the small and medium enterprise strategies and provide a
compatible work area for SME operators. Small and Medium Enterprise
Development Agency leaders at different levels should be committed and persistent
in implementing and coordinating different activities related to economic integration
among SMEs in the manufacturing sector. SME council stakeholders and private
sectors should be involved actively in proper coordination and capacity building for
SMEs support providers (SMEs experts) and SMEs and close support, follow-up,
and evaluation towards improving the SMEs in the manufacturing sector. Small and
medium enterprise development agencies should give awareness creation to SMEs
that the benefit of integrating each other and organizing in a developmental circle
and working together building team spirit to integrate complementary assets and
investments to promote jointly with common resources. The government should
prepare the land and feasibility study on work premises, access to finance, and
infrastructure before establishing operators, and the lease price of land should
consider SME operators' financial capacity. The Regional government should
establish a separate financial institution to facilitate SMEs' productivity and increase
their competitiveness. SMEs should create a strong relationship and network with
the region’s large-scale enterprises and inputs suppliers through forwarding and
backward linkage (subcontracting and outsourcing). The training program should
aim to enable potential SMEs, particularly youth and women to develop a
sustainable business ideas and SMEs startup. The business operators should be ready
for change and accept new technologies. The operators should create an ability of
independence rather than waiting for another to offer them (be visionary, hard work,
and persistent). The government of the country should insert maximum effort to
create a strong integration within the neighboring countries to get access to free
trade and market to enhance SME’s competitiveness.

REFERENCES
ADB (2014): Support for Small and Medium-Sized Enterprises, 2005–2017:
Business Environment, Access to Finance, Value Chains, and Women in
Business, Linked Document, A Small and Medium-Sized Enterprises in
Asia and the Pacific: Context and Issues

Amare Abawa(2017):Micro, Small and Medium Enterprises Development Strategies
in Ethiopia: Retrospective and Prospective Analysis; Mangalore University
Department of Commerce Mangalore, India ,IRACST International Journal
of Commerce, Business and Management (IJCBM), ISSN: 2319–2828 Vol.
6, No.1 Jan-Feb 2017

46