foir print

10.06.2005

Bank Center-invest offered new financial technologies to the entrepreneurs of the Black Sea basin countries

On the 6th of June the forum “Black Sea Business Day” was held in Erevan. The organizer of the forum was Black Sea Trade Development Bank (BSTB). Chairman of the Board of Directors of Bank Center-invest professor V. Vysokov, Doctor in Economics, and the head of the Small Business Lending Department of Bank Center-invest A. Tuchkov took part in forum section “Assistance to SME Sector Development”.

187 representatives of leading financial institutions and state structures of Russia, Armenia, the USA, Canada, Switzerland and other countries participated in the forum.

Chairman of the Board of Directors of Bank Center-invest professor V. Vysokov, Doctor in Economics, introduced the participants of the forum to the experience of work with SMEs in the South of Russia. In his report he told about the stereotypes and new ideology of small business.

New ideology of small business includes following points:

  • Small business develops due to the growth of efficiency but not due to growth of scales;
  • Small business is existing in every economy;
  • Small business isn’t a small but a business partner possessing equal rights;
  • The state needs support of small business;
  • Small business legalization is a factor of economic growth;
  • Small business utilizes better the advantages of global technologies;
  • International policy takes into consideration the small business interests to an increasing extent;
  • When international contracts are financed the subcontracts for small business increase in number.

To examine the work of Bank Center-invest more carefully, the delegation of BSTB arrived to Rostov-on-Don for business visit, which lasted from 7th to 10th of June. Negotiations were carried on between Bank Center-invest and BSTB to realize the SMEs investment projects in Rostov and Krasnodar regions.