Development of the banking sector does not always promote the resolution of the financial problems of entrepreneurship, Trend reports. Though the financial sector is regarded to be the highly developed sector in Azerbaijan, the small and medium scale business face a problem of financial shortage. It is explained with unwillingness of the commercial banks in crediting the entrepreneurship, said Alekber Mammadov, the President of National Confederation of Entrepreneurs, on 31 January. The second reason is the unacceptable terms of credits, which makes impossible for the bank to finance small and medium scale business. Taking into consideration the special weight of the Gross Domestic Product (GDP), which currently comprises 75%, one can suggest that financial support to the development of the small and medium scale entrepreneurship contributes to the economic growth. The businessmen are also concerned on state monopolies, resulted upon the state employees interference in the entrepreneur activities. If earlier the businessmen were mostly concerned on tax legislation and licensing and the tax bodies held tremendous awareness work, Mr. Mammadov said.
...