Մամիկոնյան Կարեն 020
________________________________________________________________________
PROBLEMS REGULATING THE LEGISLATIVE ENVIRONMENT OF SMALL AND MEDIUM-SIZED BUSINESSES IN THE REPUBLIC OF ARMENIA
Karen H. Mamikonyan
Ph.D in Economics, Associate Professor,
Head of the Scientific Research and Technical Testing Coordination
Department, Expert of the Department of Economic and Accounting Expertise
of National Bureau of Expertises of the Republic of Armenia.
___________________________________________________
Summary։ At present, the effective functioning and development of a market economy in the Republic of Armenia is impossible without small and medium-sized enterprises (SMEs), as this sector is the most flexible in adapting to constantly changing market conditions, contributes to the formation of a competitive environment, and also provides the basis for the development of civilized market relations. Nevertheless, the unstable provisions embedded in the regulatory framework governing the small and medium-sized enterprise (SME) sector, along with the frequent legislative changes in this domain, may to a certain extent act as constraining factors for the effective organization and sustainable operation of entrepreneurial activity.
This article analyzed a number of current issues related to the legal regulation of business in the Republic of Armenia, which, acting as impediments to the development of entrepreneurship, continuously require new approaches to their resolution in light of the changing economic and social conditions of the country. As a result of the analysis, the role of various regulatory instruments of the state in shaping civilized conditions and the business environment during the current stage of economic development in the Republic of Armenia has also been emphasized. In this context, it has also been highlighted that, although the state must ensure the protection of economic and political freedoms, entrepreneurial activity should remain “inviolable,” as it represents the free initiative of citizens.
Keywords: small and medium-sized enterprises, problems of legal regulation of business, hindering factors, legal foundations, business.
DOI: https://doi.org/10.63925/18294847-2025.op20-06