About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline

LOG IN
LOG IN


55 Economic and Social Development, International Scientific Conference on Economic and Social Development 391 (2020)
Assessment of the Role of Small and Medium Entrepreneurship in Creating New Jobs

handle is hein.intyb/ecosdmw0056 and id is 2862 raw text is: 55th International Scientific Conference on Economic and Social Development - Baku, 18-19 June, 2020 ASSESSMENT OF THE ROLE OF SMALL AND MEDIUM ENTREPRENEURSHIP IN CREATING NEW JOBS Nazim Ozbey Hajiyev Associate Professor at Department of Economics and Business Management, Azerbaijan State University of Economics (UNEC), Development Economic Research Center, 6 stiglaliyyat str., Baku, AZ 1001, Azerbaijan, Visiting Scholar at Davis Center for Russian and Eurasian Studies, Harvard University n.hajiyev@ unec. edu.az Rashad Aktiv Huseynov Head of Problems of Social development, Scientific-Research Institute of Economic Studies, Azerbaijan State University of Economics (UNEC), Baku, AZI001, 6 Istiglaliyyat str., Azerbaijan rashadhuseynov20l3@gmail.com Anar Aktiv Huseynov Azerbaijan State University of Economics (UNEC), Baku, AZI001, 6 Istiglaliyyat str., Azerbaijan anarhuseynov_2020@mail.ru ABSTRACT In most developed countries of the world, the SME subjects have a leading position in ensuring economic growth and employment. Thus, according to the statistics of the World Bank, the share of SMEs in GDP and employment in the developed countries is more than 50 and 60 percent, respectively. Just for these reasons, both developed and developing countries try to achieve prompt adaptation of their economies to crises through SME. Countries such as the US and the EU countries have achieved significant economic growth thanks to the development of SME. Thus, 99 percent of enterprises are small and medium enterprises in the EU countries, which account for more than 60 percent of employment and GDP. In 2014-2015, the SME subjects accounted for 58 cents of each euro earned as income in the European Union. From this point, there is a need to study the role of small and medium enterprises in creating new jobs in Azerbaijan. The aim of the research is to study the role of the small and medium enterprises in creating new jobs in Azerbaijan, to analyze the current situation, and to make scientific and practical proposals and recommendations towards building of econometric models and improvement of operation of this system. To this end, the existing state of the small and medium entrepreneurship and their role in ensuring economic growth and employment are studied. The research was fulfilled under the research methods as a scientific abstraction and systemic analysis and logic generalization, statistic, econometric and optimization methods. Limits of the research: requires more extensive practical information. Practical importance of the research: may play a positive role in enriching scientific and practical knowledge of the specialists conducting researches towards increasing the role of the small and medium entrepreneurship in creating new jobs and working in this field. Keywords: Economic growth and social development, Employment, New jobs, Small and medium entrepreneurship, State support to small and medium entrepreneurship 1. INTRODUCTION The SME subjects have a leading position in ensuring economic growth and employment in most developed countries of the world. Thus, as reported by the World Bank, the share of SME in GDP and employment in the developed countries is over 50 and 60 percent, respectively. 391