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Are concessional state loans available to every SME? - Challenges and opportunities in the provision of concessional state loans for micro and small businesses engaged in tourism in the regions of Azerbaijan

Hajiyev, Elmar LU (2023) MIDM19 20231
Department of Human Geography
LUMID International Master programme in applied International Development and Management
Abstract
Tourism is considered one of the main driving forces of economic growth. At the same time, micro and small businesses play a vital role in the development of the tourism sector as a supply side. Also, the development of entrepreneurial activity directly depends on internal and external financial resources. So, this qualitative case study investigates the access to external finance, concessional loans, of micro and small businesses operating in tourism sector in the regions of Azerbaijan. Firstly, concessional state loan mechanisms available for entrepreneurs in the country, the rules and conditions of their granting, as well as how accessible they are to entrepreneurs operating in the tourism sector are examined. Then, the challenges faced... (More)
Tourism is considered one of the main driving forces of economic growth. At the same time, micro and small businesses play a vital role in the development of the tourism sector as a supply side. Also, the development of entrepreneurial activity directly depends on internal and external financial resources. So, this qualitative case study investigates the access to external finance, concessional loans, of micro and small businesses operating in tourism sector in the regions of Azerbaijan. Firstly, concessional state loan mechanisms available for entrepreneurs in the country, the rules and conditions of their granting, as well as how accessible they are to entrepreneurs operating in the tourism sector are examined. Then, the challenges faced by entrepreneurs during their application to authorized credit organizations regarding the acquisition of these loans, as well as the supply and demand factors affecting them are analysed. It has been determined that these challenges are primarily related to entrepreneurs' lack of relevant knowledge, inability to pay the demand for collateral or confirm property rights related to collateral, procrastination by authorized credit organizations and etc. In the end, relevant proposals are presented on potential solutions for eliminating the obstacles that limit entrepreneurs' access to concessional state loans. (Less)
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author
Hajiyev, Elmar LU
supervisor
organization
course
MIDM19 20231
year
type
H2 - Master's Degree (Two Years)
subject
keywords
Tourism and development, Micro and small businesses, Access to finance, Concessional state loans, Environmental factors, Supply-side factors, Demand-side factors
language
English
id
9120016
date added to LUP
2023-06-08 15:28:25
date last changed
2023-06-08 15:28:25
@misc{9120016,
  abstract     = {{Tourism is considered one of the main driving forces of economic growth. At the same time, micro and small businesses play a vital role in the development of the tourism sector as a supply side. Also, the development of entrepreneurial activity directly depends on internal and external financial resources. So, this qualitative case study investigates the access to external finance, concessional loans, of micro and small businesses operating in tourism sector in the regions of Azerbaijan. Firstly, concessional state loan mechanisms available for entrepreneurs in the country, the rules and conditions of their granting, as well as how accessible they are to entrepreneurs operating in the tourism sector are examined. Then, the challenges faced by entrepreneurs during their application to authorized credit organizations regarding the acquisition of these loans, as well as the supply and demand factors affecting them are analysed. It has been determined that these challenges are primarily related to entrepreneurs' lack of relevant knowledge, inability to pay the demand for collateral or confirm property rights related to collateral, procrastination by authorized credit organizations and etc. In the end, relevant proposals are presented on potential solutions for eliminating the obstacles that limit entrepreneurs' access to concessional state loans.}},
  author       = {{Hajiyev, Elmar}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Are concessional state loans available to every SME? - Challenges and opportunities in the provision of concessional state loans for micro and small businesses engaged in tourism in the regions of Azerbaijan}},
  year         = {{2023}},
}