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MJBK T`reknd _mpcr Wcrkcs
Aknmngkmi Kngiusk`n, Rcduimtk`n, mnj Cjugmtk`n kn Dcrlmny
J`rks Ncubcrdcr
N`. 37?Func 2?=3
Mskmn Jcvci`plcnt Bmne Knstktutc
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Zhc T`reknd _mpcr scrkcs ks m g`ntknumtk`n `a thc a`rlcriy nmlcj Jksgussk`n _mpcr scrkcs5thc nulbcrknd `a thc pmpcrs g`ntknucj wkth`ut kntcrruptk`n `r ghmndc. MJBK‛s w`rekndpmpcrs rcaicgt knktkmi kjcms `n m t`pkg mnj mrc p`stcj `niknc a`r jksgussk`n. MJBK cng`urmdcsrcmjcrs t` p`st thckr g`llcnts `n thc lmkn pmdc a`r cmgh w`reknd pmpcr (dkvcn kn thcgktmtk`n bci`w). W`lc w`reknd pmpcrs lmy jcvci`p knt` `thcr a`rls `a pubikgmtk`n.
Wuddcstcj gktmtk`n6
Ncubcrdcr, J. 2?=3. Aknmngkmi Kngiusk`n, Rcduimtk`n, mnj Cjugmtk`n kn Dcrlmny. MJBK
T`reknd _mpcr 37?. Z`ey`6 Mskmn Jcvci`plcnt Bmne Knstktutc. Mvmkimbic6
http6//www.mjb.`rd/pubikgmtk`ns/aknmngkmi-kngiusk`n-rcduimtk`n-mnj-cjugmtk`n-dcrlmny/
_icmsc g`ntmgt thc muth`r a`r kna`rlmtk`n mb`ut thks pmpcr.
Clmki6 j`rks.ncubcrdcrOunk-r`st`ge.jc
J`rks Ncubcrdcr ks _r`acss`r mt thc Jcpmrtlcnt `a Cg`n`lkgs, Snkvcrskty `a R`st`ge,Dcrlmny5 Rcscmrgh Jkrcgt`r mt thc Knstktutc a`r Aknmngkmi Wcrvkgcs, Hmlburd5 Rcscmrgh_r`acss`r mt thc Dcrlmn Knstktutc a`r Cg`n`lkg Rcscmrgh, Bcrikn5 mnj m lclbcr `a thclmnmdknd b`mrj mt thc Gcntcr a`r Rcimtk`nshkp Bmneknd mnj Cg`n`lkgs GCRBC, R`lc.
Zhc muth`r w`uij ikec t` thmne Nm`yuek [`shkn`, Dmncshmn Tkdnmrmfm, _ctcr L`rdmn,Sj` Rckancr, mnj Wtcamnkc Iêllcrlmnn a`r hcipaui jksgussk`ns, mnj Iksm Jùndci a`rvmiumbic rcscmrgh msskstmngc.
Zhc vkcws cxprcsscj kn thks pmpcr mrc thc vkcws `a thc muth`r mnj j` n`t ncgcssmrkiyrcaicgt thc vkcws `r p`ikgkcs `a MJBK, MJB, kts B`mrj `a Jkrcgt`rs, `r thc d`vcrnlcntsthcy rcprcscnt. MJBK j`cs n`t dumrmntcc thc mggurmgy `a thc jmtm kngiujcj kn thks pmpcrmnj mggcpts n` rcsp`nskbkikty a`r mny g`nscqucngcs `a thckr usc. Zcrlkn`i`dy uscj lmyn`t ncgcssmrkiy bc g`nskstcnt wkth MJB `aakgkmi tcrls.
T`reknd pmpcrs mrc subfcgt t` a`rlmi rcvksk`n mnj g`rrcgtk`n bca`rc thcy mrc aknmikzcjmnj g`nskjcrcj pubikshcj.
Mskmn Jcvci`plcnt Bmne KnstktutcEmsulkdmscek Bukijknd 8A
7-2-3 Emsulkdmscek, Ghky`jm-euZ`ey` =??-1??8, Fmpmn
Zci6 +8=-7-73;7-33??Amx6 +8=-7-73;7-334=SRI6 www.mjbk.`rdC-lmki6 kna`Omjbk.`rd
© 2?=3 Mskmn Jcvci`plcnt Bmne Knstktutc
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MJBK T`reknd _mpcr 37? Ncubcrdcr
Mbstrmgt
Dcrlmny‛s bmne-bmscj aknmngkmi systcl pr`vkjcs m hkdh icvci `a aknmngkmi kngiusk`n,lcmsurcj by bmne `utrcmgh mnj usc `a aknmngkmi scrvkgcs. H`wcvcr, thc l`st vuincrmbicknjkvkjumis mnj slmii cntcrprkscs kn Dcrlmny tcnj t` bc cxgiujcj `r grcjkt g`nstrmkncj. Zhcqumikty `a aknmngkmi kngiusk`n ks klpmkrcj by m i`w icvci `a aknmngkmi iktcrmgy, whkgh ks mis`g`ngcntrmtcj ml`nd spcgkakg p`puimtk`n subdr`ups. Zhc hkdh icvci `a aknmngkmi kngiusk`n gmnbc mttrkbutcj t` rcimtk`nshkp icnjknd by pubikg smvknds bmnes, grcjkt g``pcrmtkvcs, pubikgpr`l`tk`nmi bmnes, mnj dumrmntcc bmnes usknd thc ’h`uscbmne“ l`jci, mnj aknmngkmig`nsulcr pr`tcgtk`n mnj grcjkt rcp`rtknd rcduimtk`ns mnj knstktutk`ns. _r`drmls knv`ivkndlkgr`aknmngc knstktutk`ns hmvc bccn st`ppcj. Aknmngkmi kngiusk`n `a g`nsulcrs wkth thc mkl`a rcsp`nskbic aknmngc lmy bc klpr`vcj by klpiclcntknd thc rkdht t` m bmskg bmne mgg`untwkth mn `vcrjrmat amgkikty mnj pr`tcgtk`n mdmknst mttmghlcnt, cstmbikshknd pubikg grcjktburcmus, rcjkrcgtknd bmneknd rcduimtk`n t`wmrj thc pr`tcgtk`n `a b`rr`wcrs kn i`nd-tcrl grcjktrcimtk`nshkps, mnj strcndthcnknd aknmngkmi cjugmtk`n kn sgh``is. Z` a`stcr cntrcprcncurshkp
mnj mggcss t` aunjknd a`r stmrt-ups mnj knn`vmtkvc WLCs, cntrcprcncurshkp cjugmtk`n mnjthc vcnturc gmpktmi lmrect nccj t` bc aurthcr jcvci`pcj.
FCI Gimsskakgmtk`n6 D2=, D28, K22, @=1
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MJBK T`reknd _mpcr 37? Ncubcrdcr
G`ntcnts
=. Kntr`jugtk̀ n ................................................................................................................ 7
2.
@vcrvkcw `a thc Dcrlmn aknmngkmi systcl .................................................................. 7
7. Aknmngkmi Kngiusk`n ..................................................................................................... 1
:. Aknmngkmi Rcduimtk`n mnj Wupcrvksk`n ........................................................................ 8
:.=
Rcduimt`ry mnj Wupcrvks`ry Muth`rktkcs ......................................................... 8
:.2 _ubikg Wmvknds Bmnes .................................................................................... ; :.7 _r`l`tk`nmi Bmnes ....................................................................................... =? :.: Dumrmntcc Bmnes ......................................................................................... == :.3 Lkgr`aknmngc Knstktutk`ns ............................................................................... == :.1
Aknmngkmi G`nsulcr _r`tcgtk`n .................................................................... =7
:.4
Rkdht t` m Bmskg Bmne Mgg`unt ..................................................................... =: :.8 Grcjkt Rcp`rtknd Wystcl .............................................................................. =:
3. Aknmngkmi cjugmtk`n .................................................................................................. =3
3.= Ncgcsskty, G`ngcpt, mnj D`mis `a Aknmngkmi Cjugmtk`n ................................ =3 3.2 Wtmtus `a Aknmngkmi Cjugmtk`n ....................................................................... =3 3.7 Aknmngkmi Cjugmtk`n kn Wgh``is .................................................................... =4 3.: _r`vkjcrs `a Aknmngkmi Cjugmtk`n .................................................................. =4
1.
G`ngiusk`ns mnj _`ikgy Rcg`llcnjmtk`ns ............................................................. =8
Rcacrcngcs ......................................................................................................................... 2?
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MJBK T`reknd _mpcr 37? Ncubcrdcr
=. KNZR@JSGZK@N
Aknmngkmi kngiusk`n ks klp`rtmnt a`r cg`n`lkg wciamrc mnj sustmknmbic cg`n`lkgjcvci`plcnt. Br`mjcnknd mggcss `a h`usch`ijs mnj akrls t` aknmngkmi scrvkgcs cmscsthc aknmngknd `a pr`aktmbic knvcstlcnt pr`fcgts, miicvkmtknd p`vcrty mnj spurrkndcg`n`lkg dr`wth. Mggcss t` aknmngc lmy cvcn bc g`nskjcrcj m bmskg nccj (_cmghymnj R`c 2??1) mnj aknmngkmi kngiusk`n ’gmn bc br`mjiy jcakncj ms mn cg`n`lkg stmtcwhcrc knjkvkjumis mnj akrls mrc n`t jcnkcj mggcss t` bmskg aknmngkmi scrvkgcs bmscj `nl`tkvmtk`ns `thcr thmn caakgkcngy grktcrkm“ (MlkjžkĄ, Lmssmrm, mnj Lkmi`u 2?=:6 3).Aknmngkmi cxgiusk`n, kn g`ntrmst, rcacrs t` jkaakguitkcs kn mggcssknd `r usknd aknmngkmiscrvkgcs thmt mrc mppr`prkmtc t` thc nccjs `a knjkvkjumis mnj thmt ’cnmbic thcl t` icmj mn`rlmi s`gkmi ikac kn thc s`gkcty kn whkgh thcy bci`nd“ (Cur`pcmn G`llkssk`n 2??8).Cxgiusk`n lmy bc v`iuntmry ka pc`pic j` n`t usc aknmngkmi scrvkgcs bcgmusc thcy j` n`tnccj thcl‚`r thkne thcy j` n`t nccj thcl‚`r bcgmusc `a guiturmi `r rcikdk`usrcms`ns. Ka thcy gh``sc n`t t` usc aknmngkmi scrvkgcs bcgmusc `a m imge `a aknmngkmi
iktcrmgy, aknmngkmi cxgiusk`n ks m g`nscqucngc `a m amkiurc kn thc cjugmtk`n systcl.Knv`iuntmry cxgiusk̀ n lmy rcsuit ar`l caakgkcngy grktcrkm (c.d., knsuaakgkcnt kng`lc `r hkdhgrcjkt rkse) `r ar`l lmrect `r d`vcrnlcnt amkiurcs sugh ms jksgrklknmtk`n, imge `akna`rlmtk`n, bmj pr`jugts, hkdh prkgcs, `r wcme g`ntrmgt cna`rgclcnt (T`rij Bmne2?=:5 MlkjžkĄ, Lmssmrm, mnj Lkmi`u 2?=:).
Ar`l m p`ikgy pcrspcgtkvc, mppr`prkmtc aknmngkmi kngiusk`n j`cs n`t rcqukrc thmt miiknjkvkjumis `r akrls hmvc mggcss t` mii pr`jugts, but thmt thcy mrc mbic t` mggcsspr`jugts thmt jcikvcr rcmi bcncakts. Zhc cxpcrkcngc wkth thc di`bmi aknmngkmi grksks, thclkgr`aknmngc grksks, mnj shmrp kngrcmscs kn thc nulbcr `a `vcr-knjcbtcj knjkvkjumis knlmny g`untrkcs hms shkatcj thc p`ikgy a`gus `a Dcrlmn mnj kntcrnmtk`nmi jcvci`plcntg``pcrmtk`n mwmy ar`l kngrcmsknd mggcss t` aknmngc mt mny g`st t` rcsp`nskbic aknmngc(Dr`ss 2?=:). Rcsp`nskbic aknmngc lcmns ’g``rjknmtcj pubikg mnj prkvmtc scgt`rkntcrvcntk`ns thmt cng`urmdc mnj msskst aknmngkmi scrvkgcs pr`vkjcrs mnj thckr gikcnts knklpr`vknd thckr unjcrstmnjknd mnj mppr`mghcs, prmgtkgcs, mnj bchmvk`rs t` grcmtcl`rc trmnspmrcnt, kngiuskvc, mnj cquktmbic aknmngkmi lmrects bmimngcj kn amv`r `a miikng`lc dr`ups“ (BLV/GDM_/KAG 2?==6 =). Kt cng`lpmsscs amkr scrvkgc jcikvcry t`cntcrprkscs mnj g`nsulcrs. Zhc lmf`r lcmsurcs a`r mghkcvknd rcsp`nskbic aknmngc a`rg`nsulcrs mrc rcduimtk`n mnj supcrvksk`n `a aknmngkmi g`nsulcr pr`tcgtk`n, scia-rcduimtk`n `a thc knjustry, mnj aknmngkmi cjugmtk`n (BLV/DKV/KAG 2?=7). A`ii`wknd thcdukjciknc `a m ’hulmn s`gkmi lmrect cg`n`ly,“ thc Dcrlmn d`vcrnlcnt mkls t`pr`vkjc cqumi `pp`rtunktkcs t` mii gktkzcns a`r m d``j ikac thr`udh arccj`l, ruic `a imw,p`iktkgmi stmbkikty, cg`n`lkg strcndth, mnj fustkgc. M p`ikgy thmt l`vcs hulmns knt`gcntrc stmdc lust lmec cvcry caa`rt t` cnsurc thmt n` aknmngkmi mgt`r, pr`jugt, `r pimgc
rclmkn wkth`ut mjcqumtc rcduimtk`n (Lcreci 2?=:).Zhc prcscnt pmpcr pr`gccjs ms a`ii`ws. Wcgtk`n 2 pr`vkjcs mn `vcrvkcw `a thc Dcrlmnaknmngkmi systcl, Wcgtk`n 7 rcvkcws thc stmtus `a aknmngkmi kngiusk`n, Wcgtk`n : jcmiswkth aknmngkmi rcduimtk`n mnj supcrvksk`n, mnj Wcgtk`n 3 cxmlkncs aknmngkmi cjugmtk`n.Wcgtk`n 1 g`ngiujcs wkth p`ikgy rcg`llcnjmtk`ns.
2. @QCRQKCT @A ZHC DCRLMN AKNMNGKMI W[WZCL
Zhc Dcrlmn aknmngkmi systcl ks bmne bmscj. Bmne grcjkt t` thc prkvmtc scgt`r wms=?7.8% `a DJ_ (vcrsus 32.12% kn thc Snktcj Wtmtcs) kn 2?== mnj st`ge lmrectgmpktmikzmtk`n wms :7.78% `a DJ_ (vcrsus ==:.;2% kn thc Snktcj Wtmtcs) kn 2?=2
(Di`bmi Cg`n`ly 2?=:). Zhc Dcrlmn aknmngkmi systcl ks bmscj `n mn `rkdknmi thrcc-
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MJBK T`reknd _mpcr 37? Ncubcrdcr
pkiimr strugturc `a unkvcrsmi bmnes, g`lp`scj `a prkvmtc g`llcrgkmi bmnes, pubikgsmvknds bmnes, mnj g``pcrmtkvc bmnes. Zhc shmrc `a pubikg bmnes ks lugh hkdhcr thmnkn `thcr Cur`pcmn Snk`n g`untrkcs. Kn Jcgclbcr 2?=7, prkvmtc g`llcrgkmi bmnesmgg`untcj a`r 71.:%, pubikg smvknds bmnes a`r 2;%, mnj g``pcrmtkvc bmnes a`r =7.1%`a t`tmi msscts (scc Akdurc =). Zhc g`llcrgkmi bmne pkiimr g`lprkscs bkd bmnes,rcdk`nmi mnj `thcr g`llcrgkmi bmnes, mnj brmnghcs `a a`rckdn bmnes. Kt ks j`lknmtcjby a`ur bkd st`ge g`rp`rmtk`n bmnes, whkgh, h`wcvcr, mgg`unt a`r `niy 21.7% `a thc t`tmimsscts `a thc wh`ic bmneknd lmrect.=
Akdurc =6 Lmrect Whmrcs `a Bmneknd Dr`ups, Jcgclbcr 2?=7(% `a t`tmi msscts)
?.? ?.2 ?.: ?.1 ?.8 =.? =.2 =.: =.1 =.8 2.?
Bkd bmnes
Rcdk`nmi mnj `thcr g`llcrgkmi bmnes
Brmnghcs `a a`rckdn bmnes
Imnjcsbmnecn
Wmvknds bmnes
Rcdk`nmi knstktutk`ns `a grcjkt g``pcrmtkvcs
Grcjkt g``pcrmtkvcs
L`rtdmdc bmnes
Bukijknd mnj i`mn mss`gkmtk`ns
Bmnes wkth spcgkmi aungtk`ns
_ k i i m
r K 6 G ` l l c r g k m i
b m n e s
_ k i i m r K K 6
W m v k n d s
b m n e s
_ k i i m r K K K 6
G ` ` p c r m t k v c
b m n e s
S n k v c r s m i b m n e s
W p c g k m i k z c j g r c j k t
k n s t k t u t k ` n s
Z`tmi msscts kn ₩ lkiik`n (Jcgclbcr 2?=7)
22.12%
=?.4:%
7.?7%
=:.74%
=:.1=%
3.83%
=?.?2%
7.3;%
=2.:8%
2.4?%
W`urgc6 Jcutsghc Bunjcsbmne (2?=:m)5 muth`r‛s gmiguimtk`ns.
Zhc smvknds bmne pkiimr g`lprkscs :=4 lunkgkpmi smvknds bmnes `wncj by gktkcs mnji`gmi muth`rktkcs, mnj ; Imnjcsbmnecn `wncj by acjcrmi stmtcs mnj smvknds bmnes.Cvcn th`udh thc stmtc dumrmntccs `a thc Dcrlmn smvknds bmnes wcrc mb`ikshcj kn2??3, thcsc bmnes mrc stkii kn pubikg hmnjs. Zhc lunkgkpmi smvknds bmnes mrc subfcgt t`thc rcdk`nmi prkngkpic thmt rcstrkgts thcl t` thckr i`gmi g`llunktkcs. Zhcy a`gus `n rctmkigust`lcrs mnj hmvc thc pubikg lkssk`n t` pr`vkjc smac mnj kntcrcst-bcmrknd knvcstlcnt`pp`rtunktkcs mnj mggcss t` i`mns t` thc i`gmi p`puimtk`n mnj slmii mnj lcjkul-skzcjcntcrprkscs (WLCs). Imnjcsbmnecn mrc imrdc wh`icsmic bmnes a`r thc smvknds bmnes.Thkic thckr trmjktk`nmi r`ic wms t` aknmngc rcdk`nmi jcvci`plcnt mnj thc kntcrnmtk`nmibuskncss `a WLCs, t`jmy thcy mrc unkvcrsmi, pr`akt-`rkcntcj bmnes mgtkvc kn kntcrnmtk`nmi
lmrects. Zhc smvknds bmne pkiimr g``pcrmtcs ms m dr`up mnj pr`vkjcs smacty t`jcp`skt`rs by kts f`knt ikmbkikty sghclc.
Zhc g``pcrmtkvc bmne pkiimr g`lprkscs =,?8= grcjkt g``pcrmtkvcs mnj tw` gcntrmiknstktutk`ns. Grcjkt g``pcrmtkvcs mrc `rkcntcj t`wmrj i`gmi rctmki gust`lcrs, a`ii`wknd thcn`n-pr`akt lkssk`n t` scrvc thc kntcrcsts `a thckr lclbcrs (usumiiy amrlcrs `r slmiibuskncsscs). Ikec thc smvknds bmnes, thcy g``pcrmtc ms m dr`up mnj pr`vkjc smactythr`udh m lutumi dumrmntcc systcl.
Zhc rclmknknd spcgkmikzcj grcjkt knstktutk`ns mgg`unt a`r 2=% `a t`tmi msscts mnjg`lprksc =4 (prkvmtc) l`rtdmdc bmnes, 22 (pubikg mnj prkvmtc) bukijknd mnj i`mn
=
Thkic Jcutsghc Bmne, Snkgrcjkt Bmne, mnj G`llcrzbmne mrc hkdhiy kntcrnmtk`nmikzcj mnj a`gus `n imrdcg`rp`rmtc gust`lcrs mnj wcmithy knjkvkjumis, _`stbmne ks `rkcntcj t`wmrj rctmki gust`lcrs.
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MJBK T`reknd _mpcr 37? Ncubcrdcr
mss`gkmtk`ns mnj 2= bmnes wkth spcgkmi aungtk`ns (pubikg mnj prkvmtc pr`l`tk`nmibmnes). L`rc`vcr, thcrc mrc =8 pubikg dumrmntcc bmnes n`t kngiujcj kn thc bmnekndstmtkstkgs (Jcutsghc Bunjcsbmne 2?=7) mnj 73 lkgr`aknmngc knstktutk`ns (LAKs) wkth`utbmneknd ikgcnscs (Bcnjkd Sntcrbcrd, mnj Wmrp`nd 2?=:).
Zmbic = sh`ws thmt rctmki bmneknd lmrects mrc j`lknmtcj by pubikg smvknds bmnes.Zhcy pr`vkjc 73% `a mii brmnghcs, :=% `a g`nsulcr jcp`skts, 7=% `a g`nsulcr i`mns,:7% `a gurrcnt mgg`unts, :3% `a gust`lcr bmne gmrjs, :2% `a i`mns t` j`lcstkgcntcrprkscs mnj :2% `a i`mns t` scia-clpi`ycj. Akdurc 2 sullmrkzcs thc vmrk`us wmysby whkgh smvknds mrc ghmnncicj t` gmpktmi uscrs by bmne i`mns `r lkgr` i`mns.
Zmbic =6 Lmrect Whmrcs `a Bmneknd Dr`ups, Jcgclbcr 2?=7(% `a t`tmi nulbcr `a brmnghcs mnj rctmki bmneknd v`iulcs)
_kiimr K6G`llcrgkmi
Bmnes
_kiimr KK6Wmvknds Bmnes
_kiimr KKK6G``pcrmtkvc Bmnes
WpcgkmikzcjGrcjkt
Knstktutk`ns
Brmnghcs 24 73 77 3
Jcp`skts ar`l knjkvkjumis 77 := 24 ?.:I`mns t` knjkvkjumis 7? 7= 27 =3Gurrcnt mgg`unts 2; :7 28 ?
`niknc thcrc`a 78 7: 28 ?Gust`lcr bmne gmrjs 28 :3 24 ?.2I`mns t` j`lcstkgcntcrprkscs
24 :2 =2 =8
I`mns t` scia-clpi`ycj =; :2 7= 8
N`tc6 Knjkvkjumis mrc cg`n`lkgmiiy jcpcnjcnt knjkvkjumis mnj ̀ thcr prkvmtc pcrs`ns.
W`urgcs6 Jcutsghc Bunjcsbmne (2?=:m, 2?=:b)5 Jcutsghcr Wpmremsscn- unj Dkr`vcrbmnj (2?=7b)5 muth`r‛sgmiguimtk`ns.
Akdurc 26 Aknmngkmi Kntcrlcjkmtk`n thr`udh thc Dcrlmn Bmneknd Wystcl
WLC < slmii mnj lcjkul-skzcj cntcrprksc.
W`urgcs6 Jcutsghc Bunjcsbmne (2?=:m)5 Jcutsghcr Wpmremsscn- unj Dkr`vcrbmnj (2?=7b)5 muth`r‛s `wn
g`lp`sktk`n mnj gmiguimtk`ns.
Snkvcrsmi Bmnes
Knjkvkjumis
G`rp`rmtc
gust`lcrs
(gkty rcdk`ns, nmtk`nmi
mnj kntcrnmtk`nmi
lmrects)
Rctmki gust`lcrs
(gkty mnj rurmi
rcdk`ns, rcdk`nmi mnj
nmtk`nmi lmrects)
WLCs (;;.1% ̀ aj`lcstkg
cntcrprkscs)
G`nsulcrs
Snbmnecj knjkvkjumis
7= %
27 %
=2 %
:2 %
24 %
24 %
:= %
77 %
7? %
G`llcrgkmi bmnes
• Bkd : bmnes
• Rcdk`nmi mnj ̀ thcr g`llcrgkmi bmnes
• Brmnghcs ̀ a a`rckdn bmnes
Wmvknds bmnes (stmtc-`wncj)
• Imnjcsbmnecn
• (Lunkgkpmi) smvknds bmnes
G``pcrmtkvc bmnes
• Rcdk`nmi knstktutk`ns ̀ a grcjkt
g``pcrmtkvcs
• Grcjkt g``pcrmtkvcs
Wpcgkmikzcj Grcjkt Knstktutk`ns
L`rtdmdc bmnes
Bukijknd mnj i`mn mss`gkmtk`ns
Bmnes wkth spcgkmi aungtk`ns
• _r`l`tk`nmi bmnes (EaT, IAKs)
• Dumrmntcc bmnes
Lkgr`aknmngc knstktutk`ns (LAKs)
wkth`ut bmneknd ikgcnsc
=3 %
=8 %
I`mns Jcp`skts
3
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MJBK T`reknd _mpcr 37? Ncubcrdcr
7. AKNMNGKMI KNGISWK@N
Aknmngkmi kngiusk`n hms bccn lcmsurcj by thrcc jklcnsk`ns‚`utrcmgh, usmdc, mnjqumikty `a aknmngkmi scrvkgcs (MlkjžkĄ, Lmssmrm, mnj Lkmi`u 2?=:6 8). Ssumi knjkgmt`rs `a
`utrcmgh mrc dc`drmphkg `r jcl`drmphkg pcnctrmtk`n (Bcge, Jclkrdug-Eunt, mnjLmrtkncz _crkm 2??4), sugh ms thc nulbcr `a brmnghcs pcr =,??? squmrc eki`lctcrs `r=,??? mjuits. Ssumi knjkgmt`rs `a usmdc mrc thc pcrgcntmdc `a mjuits wkth mt icmst `nctypc `a rcduimtcj jcp`skt mgg`unt, i`mn mgg`unt, `r knsurmngc p`ikgy, mnj thcpcrgcntmdc `a cntcrprkscs wkth bmne i`mns. ]umikty knjkgmt`rs lmy g`lprksc aknmngkmiiktcrmgy, jksgi`surc rcqukrclcnts, jksputc rcs`iutk`n, mnj thc g`sts `a usmdc (MlkjžkĄ,Lmssmrm, mnj Lkmi`u 2?=:6 =?).
Zmbic 2 sh`ws jcl`drmphkg brmngh pcnctrmtk`n mnj usmdc `a jcp`skts, i`mns, gurrcntmgg`unts, mnj gust`lcr bmne gmrjs by mjuits ms wcii ms usmdc `a i`mns by j`lcstkgcntcrprkscs mnj scia-clpi`ycj. WLCs rcprcscnt ;;.1% `a mii j`lcstkg cntcrprkscs(Knstktut aùr Lkttcistmnjsà rsghund 2?=:).
Zmbic 26 Jcl`drmphkg Brmngh _cnctrmtk`n mnj Ssmdc `a Bmneknd Wcrvkgcs mt thcZhrcc Bmneknd pkiimrs, Jcgclbcr 2?=7
_kiimr K6G`llcrgkmi Bmnes
_kiimr KK6Wmvknds Bmnes
_kiimr KKK6G``pcrmtkvc
BmnesZ`tmi
Nulbcr `a brmnghcs pcr=,??? mjuits
?.=3 ?.2? ?.=; ?.3:
Jcp`skts ar`l knjkvkjumis pcr=,??? mjuits (₩)*
8,=3;,;27 =?,2=8,47: 1,128,718 23,??4,?23
I`mns t` knjkvkjumis pcr=,??? mjuits (₩)*
:,4:=,84? :,;:?,;32 7,3;:,37= =7,244,737
Gurrcnt mgg`unts pcr
=??? mjuits
:2?.7= 127.=: :??.1: =,:::.?8
`niknc thcrc`a 7?7.78 24:.2= 22?.8= 4;8.:?Gust`lcr bmne gmrjs pcr=,??? mjuits*
:2?.8= 143.22 7;;.=: =,:;3.=4
I`mns t` j`lcstkg cntcrprkscspcr nulbcr `a j`lcstkgcntcrprkscs (₩)
13,4:2 =?=,43: 2;,=3: =;1,1:;
I`mns t` scia-clpi`ycj pcrnulbcr `a scia-clpi`ycj (₩)
=1,;21 74,?:4 24,==1 8=,?88
* Wtmtkstkgs a`r nulbcr `a mjuits mrc ar`l 2?=2
N`tc6 Knjkvkjumis mrc cg`n`lkgmiiy jcpcnjcnt knjkvkjumis mnj ̀ thcr prkvmtc pcrs`ns.
W`urgc6 Jcutsghc Bunjcsbmne (2?=:m, 2?=:b)5 Jcutsghcr Wpmremsscn- unj Dkr`vcrbmnj (2?=7m)5 Wtmtkstm(2?=2)5 Knstktut aùr Lkttcistmnjsa`rsghund (2?=:)5 muth`r‛s gmiguimtk`ns.
Brmngh pcnctrmtk`n, usmdc `a g`nsulcr i`mns, mnj jcp`skts mrc mb`vc thc CS mnjcur`z`nc mvcrmdcs.2 Kn 2?== thc pcrgcntmdc `a gurrcnt bmne mgg`unts, ikac mnj n`n-ikacknsurmngc, shmrcs, b`njs, mnj knvcstlcnt aunjs uscj wms hkdhcr thmn thc CS mvcrmdc,whkic thc usc `a grcjkt gmrjs, l`rtdmdcs, mnj pcrs`nmi i`mns wms bci`w thc CSmvcrmdc (Cur`pcmn G`llkssk`n 2?=26 =7). Kn 2?=2, mjuits hmj `n mvcrmdc =.7 ikacknsurmngc p`ikgkcs, mb`vc thc CS mvcrmdc, mnj 3.: n`n-ikac knsurmngc p`ikgkcs
2 Nulbcr `a brmnghcs pcr knhmbktmnts6 ?.:3 kn Dcrlmny vcrsus ?.7; kn thc CS mnj ?.:; kn thc cur`z`nc(Jcutsghc Bunjcsbmne 2?=:m5 Cur`pcmn Gcntrmi Bmne 2?=:5 T`rij Bmne 2?=35 muth`r‛s gmiguimtk`ns).Jcp`skts pcr knhmbktmnt6 ₩2=,?=2 kn Dcrlmny vcrsus ₩=8,:7: kn thc cur`z`nc (Cur`pcmn BmnekndAcjcrmtk`n 2?=75 Wtmtkstm 2?=:5 Jcutsghcr Wpmremsscn- unj Dkr`vcrbmnj 2?=7b5 T`rij Bmne 2?=35
muth`r‛s `wn gmiguimtk`ns). G`nsulcr i`mns pcr knhmbktmnt kn 2?=76 ₩2,411 kn Dcrlmny vcrsus ₩2,?;8 knthc CS (Grëjkt Mdrkg`ic 2?=:5 muth`r‛s `wn gmiguimtk`ns).
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MJBK T`reknd _mpcr 37? Ncubcrdcr
(Dcsmltvcrbmnj jcr Jcutsghcn Qcrskghcrundswkrtsghmat 2?=7m, 2?=7b5 Wtmtkstm 2?=:5`wn gmiguimtk`ns).7
Zhc pcrgcntmdc `a bmne n`npcra`rlknd i`mns t` t`tmi dr`ss i`mns wms 2.4% kn 2?=7,whkgh knjkgmtcs m hkdh qumikty `a icnjknd by Dcrlmn bmnes (T`rij Bmne 2?=3). Zhc
hkdh `utrcmgh `a thc Dcrlmn bmneknd scgt`r gmn bc mttrkbutcj t` i`gmi smvknds mnjg``pcrmtkvc bmnes, whkgh pr`vkjc m hkdhcr brmngh pcnctrmtk`n thmn g`llcrgkmi bmnes.@ut `a thc thrcc bmneknd pkiimrs, smvknds bmnes pr`vkjc thc l`st cvcn rcdk`nmijkstrkbutk`n `a brmnghcs (G`nrmj, Ncubcrdcr, mnj Wghnckjcr-RckÐkd 2??;5 Brcsicr ct mi.2??4). Tkth thckr g`lpmrmtkvciy imrdc brmngh pcnctrmtk`n kn icss wcmithy rcdk`ns, thcyhcip t` rcjugc rcdk`nmi cg`n`lkg jkspmrktkcs. B`th smvknds mnj g``pcrmtkvc bmnes cmscmggcss t` rctmki bmneknd scrvkgcs by lmkntmknknd m imrdcr nulbcr `a brmnghcs pcrknhmbktmnt kn icss jcnsciy p`puimtcj rcdk`ns (G`nrmj, Ncubcrdcr, mnj Wghnckjcr-RckÐkd 2??;). Zhc nmtk`nwkjc prcscngc `a thc pubikg smvknds bmnes kngrcmscs thcqumikty `a aknmngkmi kngiusk`n by cnsurknd bmneknd dr`up g`lpctktk`n cmgh rcdk`n.
Zhc klp`rtmngc `a bmne brmngh pcnctrmtk`n hms jcgikncj juc t` thc kngrcmsknd usc `a
`niknc bmneknd. Kn 2?=7, :2% `a bmne mgg`unt trmnsmgtk`ns wcrc pcra`rlcj `niknc.:
H`wcvcr, :8% `a thc Dcrlmn (vcrsus :2% `a thc CS24) p`puimtk`n jkj n`t gmrry `utaknmngkmi trmnsmgtk`ns `vcr thc kntcrnct juc t` scgurkty g`ngcrns (CG 2??;6 =8). Kn 2?=7,l`bkic bmneknd wms uscj by `niy 73% `a thc p`puimtk`n kn Dcrlmny, g`lpmrcj t` 1?%kn thc _c`pic‛s Rcpubikg `a Ghknm, 33% kn Knjkm, mnj :8% kn Zhmkimnj (Bmkn & G`lpmny2?=76 22). Dcrlmny, thc imrdcst slmrtph`nc lmrect kn Cur`pc, sh`ws thc i`wcst usc`a l`bkic bmneknd (G`lsg`rc 2?==). Kn 2?=7, 27% `a Dcrlmn slmrtph`nc gust`lcrsuscj thckr slmrtph`ncs t` mggcss bmne mgg`unts, =1% a`r cicgtr`nkg pmylcnts, mnj;% a`r grcjkt gmrjs (Wtmtkstm 2?=7). Zhc g`lpmrmtkvciy i`w l`bkic bmneknd mj`ptk`nrmtcs kn jcvci`pcj g`untrkcs sccl t` bc juc t` thc hkdh rkses `a `niknc trmnsmgtk`ns juct` gybcrgrklc. Kn Dcrlmny, thc nulbcr `a gybcrgrklc gmscs hms bccn rksknd. Gust`lcri`sscs thr`udh phkshknd kn `niknc bmneknd rcmghcj ₩=1.: lkiik`n kn 2?=7, mr`unj
₩2:?,??? pcr mjuit, 3 mnj l`bkic ph`ncs mrc cspcgkmiiy mttrmgtkvc tmrdcts(Bunjcserklknmimlt 2?=7). _ccr-t`-pccr icnjknd pimta`rls lmy pr`vkjc ghcmpcr i`mnskn pmrtkguimr t` pr`acssk`nmis mnj scia-clpi`ycj knjkvkjumis thmn bmnes (WtkatundTmrcntcst 2?=7). H`wcvcr, thc i`mn v`iulcs mnj nulbcr `a uscrs mrc slmii. Zhc nccja`r ’s`gkmi icnjknd“ ks slmiicr thmn kn `thcr g`untrkcs bcgmusc thc lmrect a`r g`nsulcri`mns aungtk`ns g`lpmrmtkvciy wcii. 1 Ms lugh ms 88% `a thc Dcrlmn p`puimtk`n(vcrsus 8=% `a thc CS24) j`cs n`t cndmdc kn pccr-t`-pccr akic shmrknd wkth unen`wnpcrs`ns bcgmusc `a scgurkty g`ngcrns (Cur`pcmn G`llkssk`n 2??;6 =8).
Zhc mb`vc stmtkstkgs j` n`t rcvcmi thmt lmny knjkvkjumis mrc cxgiujcj ar`l aknmngkmiscrvkgcs. Ssknd thc ncw H`usch`ij Aknmngc mnj G`nsulptk`n Wurvcy mgr`ssCur`pcmn g`untrkcs, Ic Bimng ct mi. (2?=:) aknj thmt kn G`ntkncntmi Cur`pc, 4 ==.1% `a
h`usch`ijs j` n`t hmvc mny grcjkt gmrj `r grcjkt iknc, 8.2% hmvc bccn turncj j`wn `rjksg`urmdcj ar`l mseknd a`r m i`mn, mnj :1% mrc ikeciy t` bc grcjkt g`nstrmkncj juc t`i`w msscts. A`r Dcrlmny, thc EaT stmrt-up survcy aknjs thmt buskncss stmrt-ups, i`w-kng`lc amlkikcs, mnj slmii b`rr`wcrs hmvc jkaakguitkcs kn dmknknd mggcss t` i`mns. Kn
7 Kn 2?=2, thc nulbcr `a ikac knsurmngc g`ntrmgts t` t`tmi p`puimtk`n rmtk` wms =?;% kn Dcrlmny mnj 8;% knthc Cur`pcmn Snk`n (Knsurmngc Cur`pc 2?=:).
: Jcutsghc Bunjcsbmne (2?=:b), `wn gmiguimtk`n.
3 Wtmtkstm (2?=2)5 `wn gmiguimtk`ns.
1 Kn thc SW, _2_ icnjknd ks l`stiy uscj t` rcaknmngc grcjkt gmrj i`mns. Zhks ks n`t ncgcssmry kn Dcrlmny
bcgmusc g`nsulcrs hmvc mggcss t` knstmiilcnt i`mns (Crtkndcr 2?=7).4 Mustrkm, Bcidkul, Armngc, Dcrlmny, Iuxclb`urd, Ncthcrimnjs
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MJBK T`reknd _mpcr 37? Ncubcrdcr
2?=7, =4% `a buskncss stmrt-ups wcrc aknmngkmiiy g`nstrmkncj (EaT 2?=:m). Zhcikecikh``j `a aknmngkmi g`nstrmknts wms hkdhcst a`r stmrt-ups `ut `a unclpi`ylcnt, whkghtypkgmiiy hmvc i`w cqukty mnj g`iimtcrmi (EaT 2??8). Kn 2?=:, m akath `a cntcrprkscs thmtmppikcj a`r i`mns jkj n`t dct rcgckvc thcl, mnj 28% `a slmii cntcrprkscs (smics up t` ₩=lkiik`n) rcp`rtcj jkaakguitkcs kn dmknknd mggcss t` i`mns, m pcrgcntmdc ncmriy a`ur tklcsms hkdh ms a`r imrdc g`lpmnkcs (smics drcmtcr thmn ₩3? lkiik`n). Cntcrprkscs y`undcrthmn 1 ycmrs g`lpimkncj `a kngrcmscj jkaakguitkcs kn dmknknd mggcss t` i`mns. Zhc lmknbmrrkcrs mrc sccn kn thc bmnes‛ hkdhcr jclmnj a`r kna`rlmtk`n `n knvcstlcnt pr`fcgtsmnj buskncss jmtm ms wcii ms hkdhcr g`iimtcrmi rcqukrclcnts, mnj 1?% `a slmiicntcrprkscs mnj 1;% `a y`und cntcrprkscs mrc ikeciy t` bc jcnkcj grcjkt (EaT 2?=:b).Zhc vcnturc gmpktmi lmrect rclmkns unjcrjcvci`pcj g`lpmrcj a`r cxmlpic t` Armngc,thc Snktcj Ekndj`l, mnj thc SW, whkgh g`nstrmkns mggcss `a knn`vmtkvc WLCs t` cquktygmpktmi (@CGJ 2?=:6 28).
Kn 2??;, 14?,??? `r =% `a Dcrlmns mdcj =3‗4; hmj n` mggcss t` m bmne mgg`unt.Bcgmusc `a thc hkdh bmne mgg`unt pcnctrmtk`n icvci kn Dcrlmny, thcsc g`nsulcrs mrcmt rkse `a aknmngkmi cxgiusk`n (Gcntrc a`r Wtrmtcdy mnj Cvmiumtk`n Wcrvkgcs 2?=?6 =4).
Mggcss t` bmne scrvkgcs ks rcimtcj t` thc icvci `a `vcr-knjcbtcjncss mnj thc s`gk`cg`n`lkg ghmrmgtcrkstkgs `a h`usch`ijs. Zhc shmrc `a `vcr-knjcbtcj knjkvkjumis8 wkth`ut m gurrcnt mgg`unt jcgikncj ar`l 22.=% kn 2??: t` =?.3% kn 2?=7, whk gh scclst` bc juc t` thc kntr`jugtk`n `a thc s`-gmiicj mttmghlcnt pr`tcgtk`n mgg`unt ; kn 2?=?(En`bi`gh ct mi. 2?=:). Cntrcprcncurs wkth mn kllkdrmtk`n bmgedr`unj mrc l`rc `atcnjcnkcj grcjkt thmn nmtkvcs (Brujcr, Ncubcrdcr, mnj Rêthec-Jñppncr 2?==). [`undcntrcprcncurs hmvc t` pmy hkdhcr i`mn rmtcs thmn `ijcr `ncs bcgmusc `a imgekndikqukjkty mnj slmiicr buskncsscs (Ncubcrdcr mnj Rêthec-Jñppncr 2?=3). Aclmiccntrcprcncurs mppiy icss `atcn a`r bmne i`mns juc t` acmr `a rcfcgtk`n mnj mrc l`rc`atcn jcnkcj grcjkt thmn lmic cntrcprcncurs (Wtcamnk mnj Qmggm 2?=:). H`wcvcr, thcrcks wcme cvkjcngc a`r jksgrklknmtk`n, bcgmusc thcsc jkaacrcngcs gmn bc imrdciy
cxpimkncj by jkaacrcngcs kn rkse amgt`rs.
:. AKNMNGKMI RCDSIMZK@N MNJ WS_CRQKWK@N
D`vcrnlcnt kntcrvcntk`ns mrc fustkakcj by lmrect klpcracgtk`ns sugh ms l`n`p`iyp`wcr, kng`lpictc kna`rlmtk`n, mnj trmnsmgtk`n g`sts. L`n`p`iy p`wcr cxgiujcsg`nsulcrs by rcjugknd qumntktkcs mnj rmksknd prkgcs. Kng`lpictc mnj msyllctrkgkna`rlmtk`n kn grcjkt lmrects gmuscs grcjkt rmtk`nknd kn pmrtkguimr `a slmii mnj `pmquccntcrprkscs. Lkgr` i`mns lmy n`t bc pr`vkjcj bcgmusc thcy mrc n`t pr`aktmbic juc t`thc akxcj g`sts `a sgrccnknd mnj l`nkt`rknd b`rr`wcrs. M imge `a trmnspmrcngy `apr`jugt ghmrmgtcrkstkgs mnj knmjcqumtc aknmngkmi iktcrmgy `a g`nsulcrs klpmkr thc usc `a
hkdh-qumikty aknmngkmi pr`jugts. Aknmngkmi kngiusk`n kn Dcrlmny ks a`stcrcj by m vmrkcty`a rcduimtk`ns, knstktutk`ns, mnj pubikg pr`drmls. Zhc l`st klp`rtmnt `ncs mrcjksgusscj kn thc a`ii`wknd scgtk`n.
:.= Rcduimt`ry mnj Wupcrvks`ry Muth`rktkcs
Bmnes mnj knsurmngc g`lpmnkcs mrc supcrvkscj by thc Acjcrmi Aknmngkmi Wupcrvks`ry Muth`rkty (BmAkn), whkgh ks rcsp`nskbic a`r thckr smacty mnj s`unjncss. BmAkn mis` pimysm icmjknd r`ic kn klpiclcntknd mnj cnhmngknd aknmngkmi g`nsulcr pr`tcgtk`n. Zhc
8 @vcr-knjcbtcjncss ks g`ngcntrmtcj mr`unj lkjjic-mdcj g`nsulcrs wkth bci`w mvcrmdc icvcis `acjugmtk`n, imndumdc sekiis, kng`lc, `r msscts (En`bi`gh ct mi. 2?=:6 27, 3?).
; Zhks ’_aênjundssghutze`nt`“ mgg`unt ks cxclptcj ar`l thc mttmghlcnt `a wmdcs.
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MJBK T`reknd _mpcr 37? Ncubcrdcr
Dcrlmn gcntrmi bmne (Jcutsghc Bunjcsbmne) a`guscs `n prkgc stmbkikty mnj aknmngkmisystcl stmbkikty `n m lmgr` icvci, but ks mis` rcsp`nskbic a`r gmsh suppiy, gmshicsspmylcnts, mnj bmneknd supcrvksk`n. Thcrcms BmAkn mnj Bunjcsbmne `pcrmtc mt thcnmtk`nmi icvci mnj supcrvksc thc bkd aknmngkmi pr`vkjcrs, thc i`gmi g`llcrgkmi rcduimt`rymuth`rktkcs (Dcwcrbcmuaskghtsêltcr) g`ntr`i thc w`re `a aknmngkmi scrvkgcskntcrlcjkmrkcs wkth rcspcgt t` mjlkssk`n rcqukrclcnts, rcikmbkikty, mnj pr`acssk`nmig`lpctcngcs (Zkaac mnj Gicrg-Rcnmuj 2?=:).
:.2 _ubikg Wmvknds Bmnes
_ubikg smvknds bmnes, whkgh j`lknmtc rctmki lmrects, cnsurc m hkdh bmne `utrcmgh mnjg`lpctktk`n ml`nd thc thrcc bmneknd dr`ups kn mii rcdk`ns (scc Wcgtk`n 7). Zhcbcncakts `a rcimtk`nshkp icnjknd pr`vkjcj by sugh i`gmi bmnes mrksc ar`l thc usc `a s`atkna`rlmtk`n `vcr tklc (B``t 2???). Kn Dcrlmny, cntcrprkscs usumiiy lmkntmkn m gi`scmnj i`nd-tcrl rcimtk`nshkp wkth `nc lmkn bmne thmt pr`vkjcs thcl wkth i`nd-tcrl i`mns.Clpkrkgmi stujkcs sh`w thmt rcimtk`nshkp icnjknd mgg`rjknd t` thks Dcrlmn ’h`uscbmne“
l`jci hcips t` rcjugc aknmngknd g`nstrmknts cspcgkmiiy a`r `pmquc WLCs by kngrcmskndgrcjkt mvmkimbkikty, rcjugknd i`mn r mtcs mnj g`iimtcrmi rcqukrclcnts, mnj pr`vkjknd m eknj`a ikqukjkty knsurmngc `vcr tklc.=?
Wlmii i`gmi bmnes stmbkikzcj thc Dcrlmn cg`n`ly jurknd thc aknmngkmi grksks bykngrcmsknd thckr i`nd-tcrl icnjknd (Cg`n`lkst 2?=25 Wmghvcrstênjkdcnrmt zurBcdutmghtund jcr dcsmltwkrtsghmatikghcn Cntwkgeiund 2??8). Akdurc 7 sh`ws thmt kn2??8‗2??;, g`llcrgkmi bmnes mnj Imnjcsbmnecn shmrpiy rcjugcj i`mns t` j`lcstkgcntcrprkscs mnj thc scia-clpi`ycj, whkic smvknds bmnes mnj g``pcrmtkvc bmneskngrcmscj thcl. Mith`udh thc i`gmi smvknds bmnes mrc kn pubikg hmnjs, thcy sccl t`pcra`rl bcttcr thmn prkvmtc bmnes (Vkllcrlmnn mnj Wghêacr 2?=?6 =3?). Zhc imrdcsti`sscs jurknd thc aknmngkmi grksks skngc 2??4 mggrucj t` thc Imnjcsbmnecn, m spcgkmi
stmtc bmne, mnj m imrdc prkvmtc l`rtdmdc bmne. Zhc i`gmi smvknds bmnes sh`w hkdhicvcis `a caakgkcngy. Cvcn ka thckr lkssk`n `a pr`vkjknd aknmngkmi scrvkgcs t` mii rcdk`nshms kts g`sts kn tcrls `a caakgkcngy i`sscs, thcsc g`sts sccl t` bc `utwckdhcj by thckngrcmsc kn bmneknd dr`up g`lpctktk`n (G`nrmj, Ncubcrdcr, mnj Zrkd` Dmlmrrm 2?=:).Zhcrca`rc, thcy sh`uij rclmkn kn pubikg hmnjs. Zhc Imnjcsbmnecn, h`wcvcr, stkii nccjt` bc rcstrugturcj, kngiujknd thr`udh prkvmtkzmtk`n mnj kngrcmscj a`gus `n thckrtrmjktk`nmi r`ic ms gcntrmi bmnes a`r thc smvknds bmnes (@CGJ 2?=:).
=? Wcc Cisms mnj Ermhncn (=;;8), Hmrh`aa mnj Eñrtknd (=;;8), Ichlmnn mnj Ncubcrdcr (2??=), Wtckn
(2?=:), Ncubcrdcr mnj Rêthec-Jñppncr (2?=3)5 a`r m iktcrmturc rcvkcw, scc Jcdrysc, Ekl, mnj @ndcnm(2??;).
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MJBK T`reknd _mpcr 37? Ncubcrdcr
Akdurc 76 I`mns t` J`lcstkg Cntcrprkscs mnj Wcia-clpi`ycj (wkth`ut scgurktkcs)
W`urgc6 Jcutsghc Bunjcsbmne (2?=7)5 muth`r‛s ̀ wn gmiguimtk`ns.
:.7 _r`l`tk`nmi Bmnes
_r`l`tk`nmi bmnes pursuc cg`n`lkg, strugturmi, mnj s`gk`p`iktkgmi d`mis ikec supp`rtkndWLCs, mdrkguiturc, knarmstrugturc, h`usknd, mnj urbmn jcvci`plcnt. Zhcy mrcg`lpictciy `r pmrtiy stmtc-`wncj mnj `atcn bmgecj by stmtc dumrmntccs. Zhcrc mrc tw`acjcrmi pubikg pr`l`tk`nmi bmnes (thc EaT jcvci`plcnt bmne mnj ImnjwkrtsghmatikghcRcntcnbmne) mnj =4 rcdk`nmi pr`l`tk`nmi bmnes (Imnjcsañrjcrknstktutc). Mg`lprchcnskvc systcl `a pubikg supp`rt pr`drmls mkls t` g`lpcnsmtc a`r lmrectamkiurcs, pr`vkjknd grcjkt, lczzmnknc, mnj cqukty gmpktmi mt amv`rmbic tcrls mnj
g`njktk`ns t` g`nsulcrs (c.d., h`lc aknmngc, stujcnt i`mns, mnj cjugmtk`nmi i`mns)mnj cntcrprkscs, kn pmrtkguimr stmrt-ups mnj WLCs.
Zhc buskncss l`jci `a pr`l`tk`nmi bmnes ks `rdmnkzcj ms a`ii`ws (QÑB 2?=:5 Wghêacrmnj Vkllcrlmnn 2??8)6
- _r`l`tk`nmi bmnes mrc grcjkt knstktutk`ns subfcgt t` thc Dcrlmn bmneknd imw mnjm pubikg lkssk`n.
- Mgg`rjknd t` thc ’h`uscbmne prkngkpic,“ pr`l`tk`nmi bmnes g`njugt l`st `a thckricnjknd thr`udh rcaknmngknd thc gust`lcrs‛ buskncss bmnes, whkgh msscss thcgrcjktw`rthkncss mnj lmkntmkn thc gust`lcr rcimtk`nshkp. Zhks cnsurcs thmtpr`l`tk`nmi mgtkvktkcs mrc subskjkmry mnj ncutrmi a`r g`lpctktk`n mnj thmt thc
bcncakts `a rcimtk`nshkp icnjknd by i`gmi bmnes mrc lmkntmkncj. Zhc h`uscbmnehms t` bcmr mt icmst pmrt `a thc grcjkt rkse. Jkrcgt knvcstlcnts `a pr`l`tk`nmibmnes kn cqukty gmpktmi mrc g`njktk`ncj `n cqumi pmrtkgkpmtk`ns `a prkvmtc cquktyaunjs mgtknd ms icmj knvcst`rs.
- Gust`lcrs‛ mggcss t` aknmngc mt amv`rmbic tcrls mnj g`njktk`ns ks rcmghcj b`th thr`udh stmtc dumrmntccs, whkgh rcjugc pr`l`tk`nmi bmnes‛ rcaknmngknd g`sts `ngmpktmi lmrects, mnj stmtc subskjkcs wkthkn spcgkmi pr`drmls.
Zhc i`mns kngiujc lkgr`i`mns bci`w ₩23,???, pr`vkjcj wkthkn spcgkakg lkgr`i`mnsghclcs, ms wcii ms dcncrmi buskncss pr`l`tk`n pr`drmls mnj thc WtmrtDcij pr`drml`a EaT (Bcnjkd, Sntcrbcrd, mnj Wmrp`nd 2?=26 11). Clpkrkgmi cvkjcngc sh`ws p`sktkvccaacgts `a pr`l`tk`nmi bmnes‛ mgtkvktkcs `n mggcss t` aknmngc `a WLCs mnj scia-
clpi`ycj pr`acssk`nmis, cg`n`lkg pr`jugtk`n, clpi`ylcnt, mnj dr`wth. Jcspktc
-2?.??%
-=3.??%
-=?.??%
-3.??%
?.??%
3.??%
=?.??%
=3.??%
=;;;-?=2???-?= 2??=-?=2??2-?= 2??7-?=2??:-?= 2??3-?=2??1-?= 2??4-?=2??8-?= 2??;-?=2?=?-?= 2?==-?=2?=2-?=
G`llcrgkmi bmnes Wmvknds bmnes G``pcrmtkvc bmnes Imnjcsbmnecn
=?
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MJBK T`reknd _mpcr 37? Ncubcrdcr
p`sskbic wknjamii dmkns `r gr`wjknd `ut caacgts, thckr nct bcncakts sccl t` bc p`sktkvc(Wghêacr mnj Vkllcrlmnn 2??85 Gcntrc a`r Wtrmtcdy mnj Cvmiumtk`n Wcrvkgcs 2?=2).Zhc Dcrlmn G`ungki `a Cg`n`lkg Mjvks`rs hms rcg`llcnjcj mn kngrcmsknd usc `apubikg pr`l`tk`nmi bmnes mi`nd thc Dcrlmn l`jci mnj g``pcrmtk`n `a sugh bmnesmgr`ss g`untrkcs t` a`stcr WLC aknmngc kn Cur`pc (Wmghvcrstênjkdcnrmt zurBcdutmghtund jcr dcsmltwkrtsghmatikghcn Cntwkgeiund 2?=76 227). H`wcvcr, klpr`vkndmggcss t` aunjknd a`r stmrt-ups mnj knn`vmtkvc WLCs rcqukrcs n`t `niy aknmngkmi supp`rt,but mis` bcttcr cxkt p`sskbkiktkcs a`r vcnturc gmpktmiksts (@CGJ 2?=:6 28).
:.: Dumrmntcc Bmnes
Z` prcvcnt pr`aktmbic knvcstlcnt pr`fcgts ar`l n`t bcknd rcmikzcj bcgmusc `aknsuaakgkcnt g`iimtcrmi `r cqukty, dumrmntcc bmnes supp`rt grcjkt mnj cqukty aknmngknd `acntcrprkscs mnj pr`acssk`nmis by drmntknd surctkcs mnj cqukty dumrmntccs. Zhcy wcrcgrcmtcj ms scia-hcip knstktutk`ns `a WLCs l`rc thmn 1? ycmrs md` mnj mrc sp`ns`rcj byknjustry mss`gkmtk`ns, bmnes, mnj knsurmngc g`lpmnkcs. Z`jmy, =4 dumrmntcc bmnes
subfcgt t` thc Dcrlmn bmneknd imw `pcrmtc mt thc acjcrmi stmtc icvci. By tmeknd `nscgurktkcs t` g`iimtcrmikzc i`mns mnj dumrmntccs t` rcjugc thc rkse `a cquktyknvcstlcnts, thcy cmsc thc aknmngknd `a WLCs by n`rlmi bmnes mnj prkvmtc cquktyg`lpmnkcs. Zhc jcamuit rkse ks iklktcj by g`untcr scgurktkcs mnj g`untcr dumrmntccsar`l thc acjcrmi d`vcrnlcnt mnj thc rcspcgtkvc acjcrmi stmtc, whkgh g`vcr up t` 8?% `athc rkse (QJB 2?=:).
Clpkrkgmi stujkcs sh`w p`sktkvc caacgts `a Dcrlmn dumrmntcc bmnes `n DJ_,clpi`ylcnt, akrl dr`wth, mnj thc stmtc‛s nct aknmngknd p`sktk`n. Dumrmntccs hmvc icssjkst`rtk`nmry caacgts thmn knvcstlcnt drmnts mnj subskjkcs (Wghlkjt mnj vmn Ciemn2??1, 2?=?5 Ncubcrdcr mnj Rêthec-Jñppncr 2??8).
:.3 Lkgr`aknmngc Knstktutk`nsLkgr`i`mns mrc pr`vkjcj by pr`l`tk`nmi bmnes, i`gmi clpi`ylcnt mdcngkcs (f`bgcntcrs) mnj lkgr`aknmngc knstktutk`ns (LAKs). Mith`udh thcrc ks mn `vcrimp, pr`l`tk`nmibmnes tmrdct bmnembic cntrcprcncurs, LAKs mkl t` rcmgh n`n-bmnembic cntrcprcncursmnj f`b gcntcrs tmrdct pc`pic `utskjc thc f`b lmrect. LAKs `pcrmtc unjcr vmrk`us icdmia`rls mt thc rcdk`nmi `r nmtk`nmi icvci wkth`ut m bmneknd ikgcnsc juc t` thckr slmii skzc(Bcnjkd, Sntcrbcrd, mnj Wmrp`nd 2?=:). Kn 2?=?, thc lkgr`icnjknd aunj’Lker`ercjkta`njs Jcutsghimnj“ wms a`unjcj t` cmsc mggcss a`r stmrt-ups, thcunclpi`ycj, mnj thc scia-clpi`ycj t` i`mns wkth m v`iulc up t` ₩2?,???. Kt ks bmscj`n thc a`ii`wknd g``pcrmtk`n l`jci (Jcutsghcs Lker`aknmnz Knstktut 2?=7b)6
- LAKs rcg`llcnj i`mns t` bmnes mnj mrc rcsp`nskbic a`r mii gust`lcrg`ntmgt. Zhcy mnmiyzc i`mn rcqucsts, mjvksc gust`lcrs, l`nkt`rrcpmylcnts, mnj rcmikzc thc g`iimtcrmi `a thc i`mns jurknd thc jurmtk`n `athc g`ntrmgt.
- Zhc i`mns mrc drmntcj by m g``pcrmtknd bmne, whkgh j`cs n`t hmvc mnyg`ntmgt wkth thc gust`lcrs.
- Zhc rkse `a jcamuit ks shmrcj bctwccn thc LAKs mnj m dumrmntcc aunj,whkgh rcluncrmtcs thc LAKs. Zhc LAKs bcmr m akrst-i`ss ikmbkikty `a mt l`st2?% `a thckr t`tmi i`mn p`rta`ik`.
- Zhc LAKs mrc mggrcjktcj, trmkncj, mnj l`nkt`rcj by thc Dcrlmn Lkgr`aknmngc Knstktutc (Jcutsghcs Lker`aknmnzknstktut) (JLK) t` cnsurc m hkdh qumikty `a
icnjknd mnj rcsp`nskbic icnjknd (Jcutsghcs Lker`aknmnz Knstktut 2?=7m).
==
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MJBK T`reknd _mpcr 37? Ncubcrdcr
Mii pmrtncrs hmvc t` g`llkt t` m g`jc à g`njugt bmscj `n thc ’G`jc `a D``j G`njugt“`a thc CLN Cur`pcmn Lkgr`aknmngc Nctw`re mnj thc T`rij Bmne, whkgh jcakncsprkngkpics `a rcsp`nskbic icnjknd (Jcutsghcs Lker`aknmnz Knstktut 2?=7m). H`wcvcr,thcsc mrc `niy rcg`llcnjmtk`ns mnj thcrc mrc n` icdmi bknjknds. Bmne trmknknd a`rlmnmdcrs `a LAKs ks n`t ncgcssmry.
Kn 2?=?, thc lkgr`i`mn aunj stmrtcj wkth ₩=?? lkiik`n pr`vkjcj by thc Dcrlmnd`vcrnlcnt mnj thc Cur`pcmn W`gkmi Aunj.== Sntki 2?=7, thc LAKs wcrc rcluncrmtcjby unkt pmylcnts mnj m ycmriy drmtkakgmtk`n `a =?% `a mii rcpmylcnts lknus i`sscs. Kn2?=:, thc unkt pmylcnts wcrc mb`ikshcj mnj thc drmtkakgmtk`n wms kngrcmscj t` =8% `arcpmylcnts. Zhc aunj dumrmntccs thmt thc grcjkt drmntknd bmne j`cs n`t bcmr mnygrcjkt rkse. Zhc i`mn v`iulc ks usumiiy slmii mt thc bcdknnknd `a m grcjkt rcimtk`nshkp mnjthcn kngrcmscj by stcp matcr suggcssaui rcpmylcnt. Kn 2?=7, thc mvcrmdc i`mn ml`untwms ₩3,4?? (vcrsus ₩=8,??? a`r lkgr`i`mns pr`vkjcj by pr`l`tk`nmi bmnes). Zhcjurmtk`n rmndcs ar`l m acw l`nths t` 7 ycmrs (vcrsus =? ycmrs mt pr`l`tk`nmi bmnes).Zhc caacgtkvc kntcrcst rmtc ks akxcj mt 8.;%, mb`vc thc kntcrcst rmtc `a 7%‗4% mppikcj mtpr`l`tk`nmi bmnes (Bcnjkd, Sntcrbcrd, mnj Wmrp`nd 2?=:). Zhc i`mns mrc
g`iimtcrmikzcj.
Zhc d`mi t` pr`vkjc =3,??? lkgr`i`mns untki 2?=3 wms mircmjy rcmghcj kn 2?=7(Bcnjkd, Sntcrbcrd, mnj Wmrp`nd 2?=2, 2?=:). @a thc lkgr`i`mns, 3?% wcrc uscj a`rcxkstknd cntcrprkscs, 72% a`r stmrt-ups `ut `a unclpi`ylcnt mnj =8% a`r `thcr stmrt-ups. Kn 2?=7, scvcrmi LAKs hmj t` cxkt thc lmrect juc t` hkdh jcamuits (Bcnjkd,Sntcrbcrd, mnj Wmrp`nd 2?=:). =2 Zhc lkgr`i`mn aunj g``pcrmtcj wkth DIWDclcknsghmatsbmne, m g``pcrmtkvc bmne `rkcntcj t`wmrj s`gkmi mnj cg`i`dkgmi d`mis.H`wcvcr, mt thc cnj `a 2?=: thc DIW bmne gmngciicj kts g``pcrmtk`n wkth thc lkgr`i`mnaunj. @n 3 Jcgclbcr 2?=:, lkgr`icnjknd by LAKs wms st`ppcj.=7
Cvmiumtk`ns `a thc suggcss `a thc lkgr`i`mn pr`drml kn rcjugknd p`vcrty mrc lkssknds` amr. Cvcn ka thc d`mi t` kngrcmsc thc nulbcr `a lkgr`i`mns hms bccn rcmghcj, thkslmy n`t hcip thc gust`lcrs t` dct `ut `a p`vcrty bcgmusc thc i`mns mrc n`t uscjpr`jugtkvciy, mrc t`` slmii, `r mrc t`` sh`rt tcrl. Mii cxkstknd cvmiumtk`ns `alkgr`aknmngc kn vmrk`us g`untrkcs sh`w thmt h`usch`ij `utg`lcs rclmkn unmaacgtcjmnj lkgr`aknmngcj buskncsscs amki t` dr`w `r `atcn j` n`t survkvc a`r i`nd (Bmncrfcc,Juai`, mnj H`rnbcge 2?=:). Rcvkcwknd thc kntcrnmtk`nmi jcvci`plcnts wkth thc dr`wkndknjcbtcjncss `a LAK gikcnts, Jcutsghc Bmne aknjs thmt ’m g`nscnsus ks n`w clcrdkndthmt pr`bicls mrc r``tcj … wkthkn thc ghmrmgtcrkstkgs `a thc lkgr`aknmngc knjustry“ (JBRcscmrgh 2?=26 =). Dcncrmiiy, lkgr`icnjknd `utskjc thc bmneknd scgt`r ks knacrk`r t`n`rlmi bmne icnjknd juc t` scvcrmi rcms`ns6
- By tmrdctknd thc unbmnembic, lkgr`icnjknd rcjugcs thc prcssurc t` a`rgcbmnes t` pr`vkjc scrvkgcs t` mii knjkvkjumis. Zhc d`mi t` kngrcmsc thc
nulbcr `a i`mns t` thc unbmnembic mjjrcsscs thc sylpt`l `a grcjktrmtk`nknd rmthcr thmn thc gmusc `a cxgiusk`n ar`l bmne mgg`unts.
- Lkgr`icnjknd j`cs n`t usc thc bcncakts `a rcimtk`nshkp bmneknd thr`udhi`nd-tcrl gust`lcr rcimtk`nshkps mnj pr`vksk`n `a b`th icnjknd mnj jcp`sktscrvkgcs t` thc smlc gust`lcr.
- Zhc phki`s`phy `a icnjknd t` pc`pic wkth`ut m bmne mgg`unt ncdicgts thc
== Kts prcjcgcss`r, thc ’Lker`aknmnza`njs Jcutsghimnj,“ whkgh `pcrmtcj ar`l 2??1 t` 2??;, wms w`rth `niy ₩2 lkiik`n (Bcnjkd, Sntcrbcrd, mnj Wmrp`nd 2?=:).
=2 Zhc jcamuit rmtc vmrkcj bctwccn 7% mnj l`rc thmn 2?% mgr`ss LAKs (JLK 2?=:).
=7 http6//www.lker`ercjkt.nct/metuciics/ (mggcsscj : Acbrumry 2?=3).
=2
http://www.mikrokredit.net/aktuelles/http://www.mikrokredit.net/aktuelles/
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MJBK T`reknd _mpcr 37? Ncubcrdcr
klp`rtmnt r`ic `a smvknds a`r cg`n`lkg jcvci`plcnt. Zhc suggcss `a thcg`llunkty-bmscj smvknds mnj i`mn systcl, whkgh stmrtcj t` bc jcvci`pcjkn Dcrlmny kn thc imtc =8th gcntury wkth thc smvknds bmnes mnj ikttic imtcrwkth thc smvknds mnj i`mn g``pcrmtkvcs `a Rmkaackscn mnj Wghuizc-Jciktzsgh, sh`ws thmt thc wcmith `a mn cg`n`ly jcpcnjs `n thcmgguluimtk`n `a smvknds t` bc ghmnncicj t` pr`jugtkvc knvcstlcnts thr`udhi`mns. Lkgr`icnjknd, kn g`ntrmst, ks bmscj `n thc lyth thmt fust pr`vkjkndl`ncy `r pr`pcrty rkdhts ks m bicssknd a`r thc p``r (Rckancr 2?==6 :?4).
:.1 Aknmngkmi G`nsulcr _r`tcgtk`n
Rcsp`nskbic aknmngc a`r g`nsulcrs kngiujcs thrcc pkiimrs6 rcduimtk`n mnj supcrvksk`n `aaknmngkmi g`nsulcr pr`tcgtk`n (AG_), scia-rcduimtk`n by aknmngkmi knstktutk`ns, mnjaknmngkmi cjugmtk`n. Zhc l`st klp`rtmnt pkiimr ks AG_ thr`udh mjcqumtc rcduimt`ryarmlcw`re mnj g`nsulcr mss`gkmtk`ns. AG_ hms m l`rc thmn =??-ycmr-`ij trmjktk`n knthc a`rl `a thc Dcrlmn Gkvki G`jc, whkgh cstmbikshcj stmnjmrjs a`r jksgi`surc, mjvkgc,
mnj pr`tcgtk`n mdmknst usury. Tkthkn thc imst jcgmjcs, kntcrnmtk`nmi (CS) g`nsulcrpr`tcgtk`n rcduimtk`ns hmvc bccn kng`rp`rmtcj knt` thks imw, whkic ncw g`jcs hmvcbccn cstmbikshcj a`r knsurmngc mnj l`st `a thc gmpktmi lmrect rcduimtk`ns `rkcntcjt`wmrj mii gikcnts. M gurrcnt trcnj jrkvcn by CS imw ks t` sct g`ll`n stmnjmrjs a`r miiaknmngkmi scrvkgcs, sugh ms stmnjmrjkzcj prc-g`ntrmgtumi kna`rlmtk`n, pr`jugtcxpimnmtk`n, cxtcnjcj ikmbkikty `a thc pr`vkjcr kn gmsc `a lks-sciiknd, mnj thc juty `akntcrlcjkmrkcs t` hmvc ikmbkikty knsurmngc. Thkic thks hcips g`nsulcrs c.d., bykngrcmsknd trmnspmrcngy mnj gi`sknd dmps kn unrcduimtcj gmpktmi lmrects, m jrmwbmge`a thcsc CS rcduimtk`ns ks thmt thcy a`gus `n thc smic `a aknmngkmi scrvkgcs, k.c., thc tklcbca`rc mnj jurknd thc g`ntrmgt ks mdrccj, whkic jutkcs jurknd thc wh`ic ikac tklc `a thcuscrs, sugh ms mggcss, cxpi`ktmtk`n, gmngciimtk`n, usury, jcbt cna`rgclcnt, mjmptmtk`n,mnj g`ntknukty, mrc ncdicgtcj (Zkaac mnj Gicrg-Rcnmuj 2?=:5 N`dicr mnj Rckancr 2?=:6
:=). Z` cnsurc rcsp`nskbic aknmngc, gmpktmi uscrs nccj t` bc pr`tcgtcj ar`lkrrcsp`nskbic icnjknd kn i`nd-tcrl grcjkt g`ntrmgts. Z` thks mkl, thc Cur`pcmn W`gkmiG`ntrmgt Jcgimrmtk`n hms imkj j`wn prkngkpics `a s`gkmi i`nd-tcrl g`ntrmgts kn g`nsulcrgrcjkt imw (CSW@G@ 2?=:) mnj thc Cur`pcmn G`miktk`n a`r Rcsp`nskbic Grcjkt hms sctup prkngkpics `a rcsp`nskbic grcjkt (Cur`pcmn G`miktk`n a`r Rcsp`nskbic Grcjkt 2?=:).
Rcdmrjknd thc knstktutk`nmi imnjsgmpc, pubikgiy aknmngcj g`nsulcr mss`gkmtk`ns kn cmghacjcrmi stmtc pimy mn klp`rtmnt r`ic kn AG_. @rdmnkzcj kn thc Acjcrmtk`n `a G`nsulcr Mss`gkmtk`ns (vzbv), thcy `aacr dcncrmi aknmngkmi mjvkgc mnj icdmi mkj a`r g`nsulcrs mnjg`njugt lmrect survckiimngc mnj gmlpmkdns. Ka thcy hmvc thc `pknk`n thmt m pr`vkjcr‛sprmgtkgc ks mdmknst thc imw thcy gmn akic m imwsukt. Dcrlmn g`nsulcr mss`gkmtk`ns hmvcimunghcj scvcrmi gimkls mdmknst lmf`r knsurcrs mnj bmnes (Zkaac mnj Gicrg-Rcnmuj
2?=:).Kn mil`st cvcry gkty mnj rcdk`n g`nsulcrs hmvc mggcss t` pubikg jcbt mjvks`r`rdmnkzmtk`ns, whkgh pr`vkjc arcc hcip mnj icdmi mkj, kn pmrtkguimr t` `vcr-knjcbtcjknjkvkjumis. Jcbt mjvks`r `rdmnkzmtk`ns mrc `rdmnkzcj kn nmtk`nwkjc mss`gkmtk`ns thmta`rluimtc jclmnjs `n p`iktkgkmns, pr`jugc pubikgmtk`ns a`r prcvcntk`n, mnj `rdmnkzctrmknknd a`r jcbt mjvks`rs, ml`nd `thcr aungtk`ns. Jcbt mjvks`r `rdmnkzmtk`ns mnjg`nsulcr mss`gkmtk`ns w`re gi`sciy t`dcthcr (Zkaac mnj Gicrg-Rcnmuj 2?=:6 27).
Zhc icdmi cna`rgclcnt `a g`nsulcr pr`tcgtk`n gmn bc mghkcvcj by mjlknkstrmtkvccna`rgclcnt mnj knjkvkjumi `r g`iicgtkvc gimkls mdmknst aknmngkmi pr`vkjcrs. Mn`thcrd``j prmgtkgc a`r AG_ kn Dcrlmny ks thc mgtkvc r`ic `a stmtc-subskjkzcj lcjkm knpr`vkjknd dcncrmi, ncutrmi aknmngkmi mjvkgc, g`njugtknd tcsts, knvcstkdmtknd prkgcs,
=7
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MJBK T`reknd _mpcr 37? Ncubcrdcr
pubikshknd wmrnknds mb`ut lks-sciiknd prmgtkgcs, mnj cxpimknknd ncw tcghnkgmistmnjmrjs t` g`nsulcrs, ml`nd `thcrs (Zkaac mnj Gicrg-Rcnmuj 2?=:).
:.4 Rkdht t` m Bmskg Bmne Mgg`unt
W` amr, bmnes kn Dcrlmny mrc n`t b`unj by imw t` pr`vkjc bmskg bmne mgg`unts t` miigktkzcns. Kn =;;3, thcy skdncj m v`iuntmry mdrcclcnt t` pr`vkjc m ’dkr` mgg`unt t` mii,“whkgh, h`wcvcr, jkj n`t prcvcnt cxgiusk`n `a lmny knjkvkjumis ar`l m bmne mgg`unt mnjwms a`ii`wcj `niy by pubikg smvknds bmnes kn s`lc acjcrmi stmtcs (Hmnjcisbimtt 2?=:).Kn Fuiy 2?=: thc Cur`pcmn G`ungki mj`ptcj Jkrcgtkvc 2?=:/;2/CS `n thc g`lpmrmbkikty`a accs rcimtcj t` pmylcnt mgg`unts, pmylcnt mgg`unt swktghknd, mnj mggcss t`pmylcnt mgg`unts wkth bmskg acmturcs. Zhc jkrcgtkvc prcsgrkbcs thmt g`nsulcrs sh`uijbc dumrmntccj mggcss t` bmskg pmylcnt scrvkgcs, kngiujknd thc amgkikty t` pimgc aunjsmnj wkthjrmw gmsh. Z` kngiujc unbmnecj vuincrmbic g`nsulcrs, pmylcnt mgg`untswkth bmskg acmturcs sh`uij bc `aacrcj arcc `a ghmrdc `r a`r m rcms`nmbic acc (CSR-ICX2?=:). CS lclbcr stmtcs hmvc t` klpiclcnt thc ncw ruics knt` nmtk`nmi imw by 2?=1.
H`wcvcr, thks wkii n`t shkcij g`nsulcrs mdmknst ikqukjkty rkse, bcgmusc thcy wkii stkiihmvc n` rkdht t` mn `vcrjrmat mnj stkii amgc thc rkse thmt msscts mrc mttmghcj kn thc gmsc`a kiikqukjkty. Zhcrca`rc, thc jcaknktk`n `a m bmskg bmne mgg`unt sh`uij bc cxtcnjcj wkththc pr`vksk`n `a `vcrjrmat grcjkt mnj pr`tcgtk`n ar`l mttmghlcnt `a m lknkluls`gk`guiturmi subskstcngc. D`vcrnlcnts g`uij pr`vkjc a`r maa`rjmbic bmne mgg`unts bydkvknd kngcntkvcs t` bmnes t` `aacr sugh amgkiktkcs ckthcr thr`udh m aunj, by gcntrmijkstrkbutk`n, `r thr`udh mjvmntmdcs. M grcjkt iknc knsurcj `r dumrmntccj by m pubikgcntkty g`uij ciklknmtc pmyjmy `r l`bkic ph`nc i`mns (Rckancr 2?=2).
:.8 Grcjkt Rcp`rtknd Wystcl
Grcjkt rcp`rtknd ms m systcl a`r g`iicgtknd, shmrknd, mnj usknd rcicvmnt jmtm a`r lmeknd`r lmnmdknd grcjkt mdrcclcnts a`stcrs aknmngkmi kngiusk`n by mii`wknd grcjkt`rs t`cvmiumtc rkses l`rc caacgtkvciy mnj clp`wcrknd g`nsulcrs by bukijknd grcjkt rcp`rts. Ktg`lprkscs knjkvkjumis ms jmtm subfcgts, grcjkt`rs ms jmtm pr`vkjcrs, mnj uscrs mnjgrcjkt burcmus ms g`iicgt`rs, pr`gcss`rs, mnj suppikcrs `a jmtm. Grcjkt rcp`rtknd hms t`bc rcduimtcj t` cnsurc rcsp`nskbic icnjknd mnj mt thc smlc tklc rcspcgt prkvmgy mnjjmtm pr`tcgtk`n (GC_W-CGRK 2?=7).
Kn kntcrnmtk`nmi g`lpmrks`n, Dcrlmny hms rcmghcj thc hkdhcst jcpth `a grcjktkna`rlmtk`n mnj =??% prkvmtc grcjkt burcmu g`vcrmdc, but `niy m =.7% pubikg grcjktburcmu g`vcrmdc ms m pcrgcntmdc `a thc mjuit p`puimtk`n (T`rij Bmne 2?=3). Kt hms mi`nd trmjktk`n `a prkvmtc grcjkt burcmus, whkgh hmvc bccn cstmbikshcj ms scia-hcip`rdmnkzmtk`ns `a grcjkt`rs kn i`gmi lmrects. @niy imrdc i`mns, cxgccjknd ₩= lkiik`n, mrc
rcdkstcrcj wkth thc pubikg knstktutk`n, thc Dcrlmn Gcntrmi Bmne, whkgh thcn kna`rls thcbmnes mb`ut thc t`tmi knjcbtcjncss `a thc rcspcgtkvc b`rr`wcrs. Wlmii i`mns by WLCs`r knjkvkjumis mrc rcdkstcrcj by prkvmtc grcjkt burcmus, whkgh j` n`t nccj m ikgcnsc. Kn2?=7, thc Dcrlmn mss`gkmtk`n `a grcjkt burcmus g`lprkscj ckdht knstktutk`ns. Zhclmrect ks j`lknmtcj by Wghuam H`ijknd (`wncj by bmnes mnj trmjc akrls), a`ii`wcj byGrcjktrca`rl B`nkvcrsul. Zhckr lmf`r scrvkgcs mrc pr`vkjknd grcjkt sg`rknd kna`rlmtk`n,gmrryknd `ut kjcntkty ghcges, mnj armuj prcvcntk`n. Grcjkt sg`rknd ks klp`rtmnt a`raknmngkmi kngiusk`n bcgmusc Dcrlmn bmnes mrc `bikdcj by imw (LmRkse wkthkn thc BmsciKKK armlcw`re) t` bmsc thckr i`mn prkgknd `n grcjkt sg`rcs.
Thkic Dcrlmn grcjkt burcmus mrc subfcgt t` s`lc `a thc str`ndcst jmtm pr`tcgtk`n imws,thckr grcjkt sg`rknds mrc n`t trmnspmrcnt mnj mrc `atcn unrcikmbic. G`nsulcrs mrc
cntkticj t` rcgckvc pcrs`nmi grcjkt rcp`rts, whkgh cnmbic thcl t` rcvkcw mnj vcrkay jmtm
=:
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MJBK T`reknd _mpcr 37? Ncubcrdcr
st`rcj by Wghuam. H`wcvcr, Wghuam‛s grcjkt sg`rknd kna`rlmtk`n tcnjs t` bc aimwcj `rkng`lpictc. Zhc sg`rcs mrc n`t mggurmtc bcgmusc thcy mrc bmscj `n amisc jmtm mnj kt ksungicmr h`w thcy wcrc gmiguimtcj. Zhc grcjkt burcmus trcmt thckr sg`rknd mid`rkthls msbuskncss scgrcts. Z` pr`tcgt g`nsulcrs ar`l amisc grcjkt sg`rknds, whkgh lmy cxgiujcthcl ar`l aknmngkmi scrvkgcs mnj m n`rlmi ikac kn s`gkcty, knjcpcnjcnt `r pubikg grcjktburcmus mrc ncgcssmry (E`rgzme mnj Tkiecn 2??;).
3. AKNMNGKMI CJSGMZK@N
3.= Ncgcsskty, G`ngcpt, mnj D`mis `a Aknmngkmi Cjugmtk`n
Zhc nccj a`r aknmngkmi cjugmtk`n `a g`nsulcrs hms dr`wn bcgmusc `a kngrcmscj lmrect`pp`rtunktkcs wkth rkse-shkatknd t` g`nsulcrs. Kn Dcrlmny, thks ks juc t` thrccjcvci`plcnts6 (=) thc grcmtk`n `a m l`rc aicxkbic imb`r lmrect, (2) g`ntrmgtk`n `a thcwciamrc stmtc, c.d., thr`udh thc prkvmtkzmtk`n `a rctkrclcnt pcnsk`ns, mnj (7)
jcl`drmphkg ghmndc, kn pmrtkguimr p`puimtk`n mdknd, whkgh kngrcmscs thc nccj a`rprkvmtc pcnsk`n knsurmngc. Thkic thc kngrcmsc kn aknmngkmi `pp`rtunktkcs lmy pr`vkjcncw ghmngcs t` dct `ut `a p`vcrty, aknmngkmi cjugmtk`n ks pmrtkguimriy grugkmi a`r thc p``rt` dmkn mggcss t` aknmngkmi scrvkgcs mnj shkcij mdmknst mjvcrsc sh`ges (Rckancr mnjWghcih`wc 2?=?5 Rckancr 2??1b).
Aknmngkmi cjugmtk`n sh`uij pr`vkjc knjkvkjumis wkth thc en`wicjdc mnj sekiis t` bcg`lcqucstk`nknd mnj kna`rlcj g`nsulcrs thmt mrc mbic t` lmnmdc thckr `wn aknmngcs(Rckancr 2??1b5 Aknmngkmi Wcrvkgcs Muth`rkty =;;;). Kts d`mis mrc aknmngkmi en`wicjdc,aknmngkmi iktcrmgy, mnj aknmngkmi gmpmbkikty, whkgh sh`uij kngiujc thc en`wicjdc,unjcrstmnjknd, mnj s`gkmi g`lpctcngc a`r m grktkgmi cvmiumtk`n `a aknmngkmi scrvkgcs.Wkngc p``r h`usch`ijs wh` gmnn`t smvc gmn `niy hcip thclscivcs by usknd grcjkt,aknmngkmi cjugmtk`n sh`uij a`gus `n thc pr`jugtkvc usc `a grcjkt rmthcr thmn smvknds mnjknvcstlcnts (Rckancr mnj Wghcih`wc 2?=?). Zhc qucstk`n `a thc en`wicjdc nccjcj a`raknmngkmi cjugmtk`n ks hkdhiy g`ntr`vcrskmi. Rcgcnt SW stujkcs sh`w thmt aknmngkmicjugmtk`n lmy amki t` klpr`vc thc qumikty `a aknmngkmi jcgksk`n lmeknd (Mlbuchi,Bcrnhckl, mnj Iusmrjk 2?=:) `r icmj t` w`rsc jcgksk`ns by g`nsulcrs, bcgmusc ktsccls t` kngrcmsc g`nakjcngc wkth`ut klpr`vknd mbkikty. ’Zhc scmrgh a`r caacgtkvcaknmngkmi iktcrmgy cjugmtk`n sh`uij bc rcpimgcj by m scmrgh a`r p`ikgkcs l`rc g`njugkvct` d``j g`nsulcr aknmngkmi ̀ utg`lcs“ (Tkiiks 2??86 =;8).
Kn m br`mjcr scnsc, aknmngkmi cjugmtk`n mis` g`lprkscs cntrcprcncurshkp cjugmtk`n,sugh ms pr`vkjknd knjkvkjumis wkth thc en`wicjdc t` wrktc buskncss pimns mnj stmrt `rrun m buskncss. Wkngc thc scia-clpi`ylcnt rmtc kn Dcrlmny ks g`lpmrmtkvciy i`w, thcnccj a`r cntrcprcncurshkp cjugmtk`n ks hkdh.=:
3.2 Wtmtus `a Aknmngkmi Cjugmtk`n
Aknmngkmi iktcrmgy hms bccn lcmsurcj ckthcr by mseknd rcsp`njcnts t` scia-msscss thckraknmngkmi s`phkstkgmtk`n, `r by tcstknd thcl `n jctmkicj mnj l`rc rcikmbic qucstk`ns `naknmngc (Fmppciik 2?=?5 @CGJ 2??3m). @atcn thcrc ks m substmntkmi lkslmtgh bctwccnscia-msscsscj mnj mgtumi en`wicjdc (Iusmrjk mnj Lktghcii 2?=:). M rcprcscntmtkvcsurvcy `a knjkvkjumis kn 2??; sh`wcj thmt `niy 32% `a thc Dcrlmn p`puimtk`n scia-msscsscj thckr aknmngkmi en`wicjdc ms d``j `r vcry d``j. L`rc thmn m qumrtcr `a thcp`puimtk`n jkj n`t unjcrstmnj bmskg cg`n`lkg g`ngcpts, ncmriy thrcc-qumrtcrs hmj
=: Kn 2?=7, thc scia-clpi`ylcnt rmtc wms ==.2% kn Dcrlmny mnj =1.3% kn thc CS 24 (@CGJ 2?=3).
=3
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MJBK T`reknd _mpcr 37? Ncubcrdcr
pr`bicls unjcrstmnjknd g`nvcrsmtk`ns wkth aknmngkmi mjvks`rs, mnj ncmriy `nc-thkrj jkjn`t jmrc t` mse mppr`prkmtc qucstk`ns (G`ljkrcgt 2??;). Kn m sklkimr survcy g`njugtcjkn 2?=? `niy 7;% `a thc Dcrlmn p`puimtk`n msscsscj thclscivcs t` bc wcii `r vcrywcii kna`rlcj mb`ut aknmngkmi t`pkgs, 32% t` hmvc `niy s`lc kna`rlmtk`n, mnj 4% t` bcbmjiy kna`rlcj. @niy `nc-tcnth rcduimriy g`lpmrcj thc prkgcs `a bmneknd pr`jugts,whkic l`rc thmn m qumrtcr ncvcr lmjc sugh g`lpmrks`ns (G`ljkrcgt 2?=?).
Ssknd jmtm ar`l thc smvknds mnj pcnsk`n knsurmngc survcy WMQC 2??;, mrcprcscntmtkvc Dcrlmn h`usch`ij pmnci, Bughcr-E`cncn mnj Iusmrjk (2?==) a`unj ml`jcrmtc icvci `a aknmngkmi iktcrmgy, lcmsurcj by mnswcrs t` thrcc sklpic qucstk`ns `nunjcrstmnjknd kntcrcst rmtcs, knaimtk`n, mnj rkse mnj jkvcrskakgmtk`n. @a thc rcsp`njcnts,74% wcrc n`t mbic t` mnswcr mt icmst `nc `a thc qucstk`ns. Zhc icvci `a aknmngkmiiktcrmgy jcpcnjs `n mdc, dcnjcr, cjugmtk`n, imb`r lmrect stmtus, mnj rcskjcngc kn Cmstvcrsus Tcst Dcrlmny. Knjkvkjumis wkth hkdhcr cjugmtk`n icvcis wcrc sh`wn t` hmvchkdhcr en`wicjdc `a bmskg aknmngkmi g`ngcpts thmn thc icss cjugmtcj, mnj aknmngkmiiktcrmgy wms pmrtkguimriy i`w ml`nd thc icss cjugmtcj, unclpi`ycj, mnj rctkrcjknjkvkjumis kn Cmst Dcrlmny. Knjkvkjumis wkth i`wcr aknmngkmi iktcrmgy wcrc a`unj t` bc
icss ikeciy t` pimn a`r rctkrclcnt mnj thcrca`rc icss ikeciy t` akii thc dmp kn rctkrclcntkng`lc.
Aknmngkmi iktcrmgy vmrkcs substmntkmiiy mgr`ss g`untrkcs, ms lcmsurcj by scnk`r buskncssicmjcrs‛ cvmiumtk`n `a cg`n`lkg iktcrmgy ml`nd thc p`puimtk`n ar`l =;;3 t` 2??8.Dcrlmny hms mn mb`vc mvcrmdc aknmngkmi iktcrmgy sg`rc, but rmnes `niy 27rj `ut `a 3:g`untrkcs (Fmppciik 2?=?). Zhc icvci `a aknmngkmi iktcrmgy jcpcnjs `n cjugmtk`nmimghkcvclcnt (lcmsurcj by _KWM tcst sg`rcs mnj g`iicdc mttcnjmngc), thc shmrc `a thcurbmn p`puimtk`n, mnj thc cxkstcngc `a lmnjmtcj smvknds kn thc a`rl `a s`gkmi scgurktyg`ntrkbutk`ns. Knhmbktmnts `a g`untrkcs wkth l`rc dcncr`us s`gkmi scgurkty systcls(sugh ms Dcrlmny kn thc pcrk`j knvcstkdmtcj) mrc dcncrmiiy icss iktcrmtc, g`nskstcnt wkththc hyp`thcsks thmt thc kngcntkvcs t` mgqukrc aknmngkmi iktcrmgy mrc rcimtcj t` thc ml`unt
`a rcs`urgcs knvcstcj kn aknmngkmi lmrects. Mn `niknc survcy `a mjuits kn =2 Cur`pcmn g`untrkcs kn 2?=7 a`unj thmt Dcrlmns hmjthc i`wcst icvcis `a aknmngkmi cjugmtk`n. Zhc shmrc `a rcsp`njcnts thmt rcp`rtcj t` hmvcncvcr rcgckvcj aknmngkmi cjugmtk`n wms 37% kn Dcrlmny mnj Wpmkn, a`ii`wcj by 32% knthc Snktcj Ekndj`l. Ms lugh ms 48% Dcrlmns smkj thcy wmntcj aknmngkmi cjugmtk`nmt sgh``i, but `niy =8% rcgckvcj kt (KND-JkBm 2?=7). H`wcvcr, thc rcsuits `a thks stujymrc qucstk`nmbic, bcgmusc thc stujy rcikcs `n knjkvkjumis‛ scia-msscsslcnts `a aknmngkmicjugmtk`n, whkgh ks n`t jcakncj mnj lmy bc pcrgckvcj jkaacrcntiy kn jkaacrcnt guiturmimnj cjugmtk`nmi cnvkr`nlcnts.
M l`rc jctmkicj survcy `n aknmngkmi iktcrmgy wms g`njugtcj kn 2?=?‗2?== by thc @CGJKntcrnmtk`nmi Nctw`re `n Aknmngkmi Cjugmtk`n kn =: g`untrkcs mgr`ss : g`ntkncnts,
kngiujknd Dcrlmny (Mtekns`n mnj Lcssy 2?=26 1). Kn n` g`untry g`uij l`rc thmn 4?%`a thc p`puimtk`n mnswcr mt icmst 1 `ut `a 8 qucstk`ns `n aknmngkmi en`wicjdc. @niy22% `a thc Dcrlmn rcsp`njcnts hmj m h`usch`ij bujdct mnj ;1% knjkgmtcj thcy hmjn`t b`rr`wcj t` lmec cnjs lcct (Mtekns`n mnj Lcssy 2?=26 8). H`wcvcr, thc `vcrmiiknjkgmt`r `a aknmngkmi iktcrmgy ks mb`vc thc gr`ss-g`untry mvcrmdc (Mtekns`n mnj Lcssy2?=26 =?). Mii kn mii, thc cvkjcngc sh`ws m i`w icvci `a aknmngkmi iktcrmgy kn Dcrlmny,whkgh ks mis` g`ngcntrmtcj ml`nd spcgkakg p`puimtk`n subdr`ups. H`wcvcr, thcscrcsuits hmvc t` bc kntcrprctcj wkth gmutk`n bcgmusc aknmngkmi iktcrmgy lmy bc lcmsurcjwkth crr`r, jcpcnjknd `n thc wmy qucstk`ns mrc w`rjcj (Iusmrjk mnj Lktghcii 2?=:).
Mis` thc icvci `a cjugmtk`n `n cntrcprcncurshkp kn Dcrlmny sccls t` bc i`w g`lpmrcjt` `thcr jcvci`pcj g`untrkcs. Mith`udh thc acjcrmi d`vcrnlcnt `aacrs supp`rt a`r
cntrcprcncurshkp cjugmtk`n mt unkvcrsktkcs mnj a`r rcscmrghcrs mnj stujcnts t` stmrt
=1
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MJBK T`reknd _mpcr 37? Ncubcrdcr
buskncsscs, tcmghknd tcghnkqucs nccj t` bc klpr`vcj. ’A`r cxmlpic, kn cmstcrnDcrlmn unkvcrsktkcs survcycj by thc @CGJ, buskncss pimn wrktknd ks thc l`st g`ll`nicmrnknd t``i, whkic l`rc cxpcrkcngc-bmscj tcmghknd lcth`js‚sugh ms vkskts t`g`lpmnkcs, usc `a s`gkmi lcjkm, scia-icmrnknd cxcrgkscs, jcvci`pknd pr`t`typcs, mnjicmrnknd mb`ut cntcrprksc amkiurc‚mrc n`t s` arcqucnt.“ (@CGJ 2?=:6 28).
3.7 Aknmngkmi Cjugmtk`n kn Wgh``is
Wuppikcrs `a aknmngkmi scrvkgcs hmvc lmrect p`wcr mnj kna`rlmtk`nmi mjvmntmdcs `vcrg`nsulcrs, a`r wh`l aknmngkmi pr`jugts mrc g`lpicx mnj jkaakguit t` unjcrstmnj. Zhcsclmrect amkiurcs pr`vkjc m rmtk`nmic a`r mgtk`n by d`vcrnlcnts t` klpr`vc aknmngkmicjugmtk`n, whkgh sh`uij stmrt mt sgh``i `r ms cmriy ms p`sskbic kn ikac (@CGJ 2??3b).Wgh``i tcmghcrs hmvc bccn kjcntkakcj ms g`rc dmtceccpcrs `a g`nsulcr cjugmtk`n kns`gkcty. Ml`nd akvc s`urgcs `a g`nsulcr cjugmtk`n‚amlkiy mnj arkcnjs, sgh``i, mjuitcjugmtk`n, g`nsulcr `rdmnkzmtk`ns, mnj ZQ pr`drmls‚sgh``is hmvc bccn a`unj t` bcthc l`st caacgtkvc mnj mggcsskbic a`rl `a kntcrvcntk`n (Rckancr 2??1m).
W` amr, thc tcmghknd gurrkguim jcvci`pcj by thc lknkstrkcs `a thc acjcrmi stmtcs j` n`tcxpikgktiy stkpuimtc thc tcmghknd `a aknmngkmi cjugmtk`n. Kn prmgtkgc, tcmghcrs pmrtiykngiujc mspcgts `a aknmngkmi cjugmtk`n kn buskncss mjlknkstrmtk`n `r cg`n`lkgs gimsscs,whkgh, h`wcvcr, mrc l`stiy n`t lmnjmt`ry a`r stujcnts mnj mppr`prkmtc tcmghkndlmtcrkmis mrc imgeknd (Rckancr 2??1m). Kn 2?=7, thc G`nacrcngc `a Guiturmi Lknkstcrsruicj thmt g`nsulcr cjugmtk`n hms t` bc kntcdrmtcj mnj cna`rgcj kn sgh``is. Zhkskngiujcs aknmngkmi cjugmtk`n mb`ut g`nsgk`us usc `a l`ncy, aknmngkmi pr`jugts, aknmngkmiknvcstlcnts, typcs `a i`mns, prkvmtc knsurmngc, rctkrclcnt pr`vksk`n, lmrectknd, mnjg`nsulptk`n. Z` mghkcvc thks d`mi, sgh``is lmy g``pcrmtc wkth cxtcrnmi pmrtncrs sughms pubikg pcjmd`dkgmi knstktutcs, g`nsulcr lknkstrkcs mnj mss`gkmtk`ns, unkvcrsktkcs,n`n-d`vcrnlcntmi `rdmnkzmtk`ns, knjustry mss`gkmtk`ns, mnj cntcrprkscs. Zhcrcby, thc
prkngkpic `a ncutrmikty hms t` bc `bcycj. G`nsulcr cjugmtk`n hms t` bc kntcdrmtcj knt``nc `r scvcrmi sgh``i subfcgts mnj hms t` bc tmki`rcj t` mdc mnj tmrdct dr`ups (ELE2?=7). Zhcsc ruics hmvc stmrtcj t` bc klpiclcntcj wkth vmrk`us mppr`mghcs mt thcicvci `a thc acjcrmi stmtcs. Thkic thcy mrc mn klp`rtmnt stcp t` klpr`vknd aknmngkmicjugmtk`n kn sgh``is, thcy mrc bmscj `n m lmrect-`rkcntcj g`ngcpt `a g`nsulcrcjugmtk`n, whkgh j`cs n`t tmec knt` mgg`unt thmt pupkis hmvc t` icmrn t` grktkgmiiy rcaicgtthc cxkstknd cg`n`lkg gkrgulstmngcs. L`rc`vcr, thcy `pcn thc j``r t` aknmngkmig`lpmnkcs t` g``pcrmtc wkth sgh``is wkth thc g`llcrgkmi mkl t` dmkn pupkis ms auturcgust`lcrs.
3.: _r`vkjcrs `a Aknmngkmi Cjugmtk`n
Aknmngkmi cjugmtk`n ks pr`vkjcj by n`n-pr`akt `rdmnkzmtk`ns ms wcii ms thc aknmngkmiscrvkgcs knjustry. G`nsulcr mss`gkmtk`ns cvmiumtc aknmngkmi cjugmtk`n lmtcrkmi wkthhcip by knjcpcnjcnt sgkcntksts. Zhc rcsuits mrc pubikshcj `n thc Lmtcrkmie`lpmsswcbsktc, aknmngcj by thc Acjcrmi Lknkstry `a Mdrkguiturc, A``j mnj G`nsulcr_r`tcgtk`n, whkgh gmn bc uscj ms m pmth aknjcr thr`udh thc vmrk`us aknmngkmi sgh``ipr`fcgts kn Dcrlmny (Qcrbrmughcrzcntrmic Bunjcsvcrbmnj 2?=:).
Zhc Dcrlmn d`vcrnlcnt stmtut`ry pcnsk`n knsurmngc sghclc `aacrs mjuit cjugmtk`ng`urscs `n pubikg pcnsk`n systcls, but amkis t` pr`vkjc nccjs-bmscj g`nsulcrcjugmtk`n. Qmrk`us wciamrc mnj g`nsulcr mjvkgc `rdmnkzmtk`ns cndmdc kn aknmngkmicjugmtk`n pr`drmls t` prcvcnt `vcr-knjcbtcjncss, h`wcvcr thcy mrc grktkgmi `a grcjkttmec-up, bcknd bmscj `n thc phki`s`phy `a smvknds. Zhc n`n-pr`akt knstktutc a`r aknmngkmi
scrvkgcs, kaa, pr`vkjcs sgh``i pr`fcgts whcrc g`nsulcrs gmn icmrn t` kjcntkay mnj lcct
=4
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MJBK T`reknd _mpcr 37? Ncubcrdcr
thckr aknmngkmi nccjs mnj t` bc grktkgmi `a thc lmrect a`r aknmngkmi scrvkgcs. M bmskgprkngkpic ks thmt knstcmj `a bmnecrs cntcrknd thc sgh``is, stujcnts sh`uij cntcr thcbmnes t` rchcmrsc thc mjvkgc scssk`ns thcy lkdht cng`untcr imtcr kn ikac mnj icmrn t`p`sc prmgtkgmi qucstk`ns (Rckancr mnj Wghcih`wc 2?=?). Zhc kaa aknmngkmi cjugmtk`n
sgh``i pr`fcgts
=3
hmvc bccn mgen`wicjdcj ms suggcssaui pr`fcgts kn Dcrlmny by thc@CGJ mnj cvmiumtcj ms `nc `a thc bcst g`nsulcr cjugmtk`n pr`fcgts by thcLmtcrkmie`lpmss `a thc Dcrlmn Acjcrmtk`n `a G`nsulcr Mss`gkmtk`ns.
Zhc aknmngkmi scrvkgc knjustry g`ntrkbutcs m wkjc rmndc `a kna`rlmtk`n mnj tcmghkndlmtcrkmis a`r aknmngkmi cjugmtk`n. Kts l`tkvmtk`n ks t` g`lpiy wkth thc @CGJ‛s g`rp`rmtcs`gkmi rcsp`nskbkikty prkngkpics, kn whkgh g`nsulcr pr`tcgtk`n mnj cjugmtk`n pimy mnklp`rtmnt pmrt. Zhc a`gus ks `n cxpimknknd pr`jugts mnj thckr usmdc. W`lc lmtcrkmi ksbmscj `n h`lc cg`n`lkgs mnj clphmskzcs bujdctknd mnj smvknds, ikec thc pr`drml `athc Dcrlmn Wmvknds Bmnes Mss`gkmtk`n. @thcrs, ikec prkvmtc g`llcrgkmi bmnespr`l`tc thc mppr`mgh `a cg`n`lkg cjugmtk`n. Jcutsghc Bmne `aacrs prmgtkgmicg`n`lkg mnj aknmngkmi kna`rlmtk`n t` sgh``is thr`udh kts aknmngkmi iktcrmgy knktkmtkvc mnjclpi`ycc cndmdclcnt, whcrc clpi`yccs pr`vkjc kna`rlmtk`n mb`ut knvcstlcntpr`jugts mnj rctkrclcnt aunjs, thc di`bmi aknmngkmi systcl, mnj thc gmuscs `a thcrcgcnt grksks (Jcutsghc Bmne 2?=:). ’Ly Aknmngc G`mgh,“ m aknmngkmi cjugmtk`n sgh``ipr`fcgt aknmngcj by 7? cntcrprkscs, kngiujknd imrdc aknmngkmi scrvkgcs g`lpmnkcs, hmsmircmjy lmjc 7,3?? sgh``i vkskts kn icss thmn : ycmrs.
Mircmjy, kn 2??1, 88% `a =3-ycmr-`ij ghkijrcn kn Dcrlmny wcnt t` sgh``is uskndtcmghknd g`ntcnt knaiucngcj by g`llcrgkmi cntcrprkscs. Mii acjcrmi stmtcs `a Dcrlmnywcig`lc prkvmtc suppikcrs t` thckr sgh``is. @a thc imrdcst Dcrlmn g`lpmnkcs, =3pr`vkjc tcmghknd lmtcrkmis bcy`nj cg`n`lkg t`pkgs. Thkic thc nulbcr `a arcc `niknclmtcrkmis a`r cjugmtk`n kn Dcrlmny hms rcmghcj 882,3:? (Qcrbmnj Bkijundslcjkcn2?=:), thc t`tmi nulbcr `a aknmngkmi cjugmtk`n pr`drmls ks unen`wn. Rcduimrcvmiumtk`n thr`udh Lmtcrkmie`lpmss sh`ws thmt lmny `a thcsc `aacrs mrc bkmscj
kjc`i`dkgmiiy `r cvcn g`ntmkn mjvcrtksknd. Kn s`lc gmscs, sgh``i lmtcrkmis wcrc uscjjkrcgtiy t` pr`l`tc pr`vkjcrs mnj thckr buskncss l`jcis. Aknmngkmi cjugmtk`n knktkmtkvcsby aknmngkmi scrvkgc pr`vkjcrs kn sgh``is hmvc bccn grktkgkzcj ms m a`rl `a i`bbyknd thmtsh`uij n`t bc mggcptcj kn sgh``is. Wgh``is sh`uij bc arcc `a mjvcrtksknd mnj knaiucngc`a pr`vkjcrs. Aknmngkmi cjugmtk`n knktkmtkvcs lmy `niy bc sylb`ikg lcmsurcs t` mv`kj`thcr a`rls `a rcduimtk`n (Zkaac mnj Gicrg-Rcnmuj 2?=:6 28). Zhckr p`sktkvc klpmgts a`rstrcndthcnknd g`nsulcrs mrc stkii t` bc sccn.
1. G@NGISWK@NW MNJ _@IKG[ RCG@LLCNJMZK@NW
Zhc bmne-bmscj aknmngkmi systcl `a Dcrlmny pr`vkjcs m hkdh icvci `a aknmngkmi
kngiusk`n, lcmsurcj by mvcrmdc bmne `utrcmgh mnj usc `a aknmngkmi scrvkgcs. H`wcvcr,thc l`st vuincrmbic, sugh ms i`w-kng`lc, unclpi`ycj, `r `vcr-knjcbtcj knjkvkjumiswh` nccj i`mns `r bmne mgg`unts t` stmrt m buskncss mnj pmrtkgkpmtc kn cg`n`lkg ikac,tcnj t` bc cxgiujcj, mnj slmii cntcrprkscs mrc `atcn grcjkt g`nstrmkncj. Zhc qumikty `aaknmngkmi kngiusk`n ks klpmkrcj by m i`w icvci `a aknmngkmi iktcrmgy `vcrmii, whkgh ks mis`g`ngcntrmtcj ml`nd spcgkakg p`puimtk`n subdr`ups sugh ms thc unclpi`ycj mnj icsscjugmtcj. Mt thc smlc tklc, thc nccj a`r aknmngkmi cjugmtk`n hms dr`wn juc t` thcjcgiknc `a thc Dcrlmn wciamrc stmtc.
Ecy icss`ns gmn bc icmrncj ar`l thc Dcrlmn cxpcrkcngcs, pmrtkguimriy a`r icss-jcvci`pcj g`untrkcs. Zhc Dcrlmn bmneknd scgt`r ks g`lpmrmtkvciy str`ndiy
=3 ’Wghùicrbmneknd“ (’pupkis‛ bmneknd“) mnj ’Tksscn rcghnct skgh“ (’en`wicjdc g`unts“).
=8
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MJBK T`reknd _mpcr 37? Ncubcrdcr
jkaacrcntkmtcj, wkth a`ur bkd bmnes h`ijknd m lmrect shmrc `a `niy 27% mnj rctmkilmrects bcknd j`lknmtcj by stmtc-`wncj smvknds bmnes. M g`llunkty-bmscj systcl`a i`gmi smvknds mnj g``pcrmtkvc bmnes, whkgh cv`ivcj l`rc thmn 2?? ycmrs md`, hmsbccn suggcssaui kn mgguluimtknd smvknds mnj ghmnnciknd thcl t` pr`jugtkvcknvcstlcnts by knjkvkjumis mnj WLCs. Zhc scgt`r ks bmscj `n rcimtk`nshkp icnjknd `rthc ’h`uscbmne“ l`jci, whcrc s`at kna`rlmtk`n ks dmthcrcj thr`udh jkrcgt mnj rcpcmtcjg`ntmgt wkth thc smlc b`rr`wcr. D`vcrnlcnt kntcrvcntk`ns hmvc pr`vcn suggcssaui kng`rrcgtknd lmrect amkiurc. Zhc g`lpmrmtkvciy hkdh icvci `a aknmngkmi kngiusk`n gmn bcmttrkbutcj t` lunkgkpmi pubikg smvknds bmnes, pubikg pr`l`tk`nmi bmnes, mnj dumrmntccbmnes usknd thc ’h`uscbmne“ l`jci, aknmngkmi g`nsulcr pr`tcgtk`n, mnj grcjkt rcp`rtkndrcduimtk`ns mnj knstktutk`ns. _r`drmls knv`ivknd lkgr`aknmngc knstktutk`ns wkth`ut mbmneknd ikgcnsc hmvc bccn st`ppcj. Zhc usc `a `niknc mnj l`bkic bmneknd ksg`lpmrmtkvciy i`w bcgmusc `a scgurkty g`ngcrns mnj sh`uij n`t bc a`stcrcj bcgmusc `adr`wknd g`nsulcr i`sscs juc t` gybcrgrklc.
Z` klpr`vc aknmngkmi kngiusk`n wkth thc mkl `a rcsp`nskbic aknmngc, thc a`ii`wkndlcmsurcs mrc mjvksmbic6
(=) Zhc thrcc-pkiimr systcl `a unkvcrsmi bmnes mnj thc systcl `a spcgkmikzcjpr`l`tk`nmi mnj dumrmntcc bmnes sh`uij bc prcscrvcj. I`gmi smvknds bmnessubfcgt t` m pubikg lkssk`n mnj rcdk`nmi prkngkpic sh`uij rclmkn kn pubikg hmnjsbcgmusc thcy cnsurc m hkdh bmne `utrcmgh, usmdc `a jcp`skts mnj i`mns, ms wciims bmneknd dr`up g`lpctktk`n. Zhcy g`ntrkbutc t` cqumi ikvknd stmnjmrjs mgr`ssrcdk`ns mnj hmvc stmbkikzcj thc Dcrlmn cg`n`ly jurknd thc grksks. Bmnekndrcduimtk`n mnj supcrvksk`n sh`uij tmec mgg`unt `a thc jkvcrskty `a bmne buskncssl`jcis mnj thc r`ic `a i`gmi bmnes t` klpr`vc grcjkt mggcss by rcimtk`nshkpicnjknd. _r`l`tk`nmi bmnes mnj dumrmntcc bmnes lmy bc kngrcmskndiy uscj t`cmsc mggcss t` aknmngc a`r stmrt-ups mnj slmii cntcrprkscs.
(2) Wpcgkmi lkgr`aknmngc knstktutk`ns tmrdctknd unbmnecj knjkvkjumis mrc rcnjcrcjunncgcssmry ka mggcss t` bmneknd scrvkgcs a`r mii ks rcmghcj l`rc jkrcgtiy by`thcr lcmsurcs (scc kn pmrtkguimr (7)). Zhcy lmy cvcn bc hmrlaui by kngrcmskndthc `vcr-knjcbtcjncss `a thc p``r.
(7) Zhc rkdht t` m bmskg bmne mgg`unt stkii hms t` bc klpiclcntcj. Kt sh`uij bcg`upicj wkth thc rkdht t` `vcrjrmat grcjkt mnj pr`tcgtk`n ar`l mttmghlcnt `a mlknklul s`gk`guiturmi subskstcngc. D`vcrnlcnts g`uij pr`vkjc a`r maa`rjmbicbmne mgg`unts by dkvknd kngcntkvcs t` bmnes t` `aacr sugh amgkiktkcs. M grcjkt ikncknsurcj `r dumrmntccj by m pubikg cntkty g`uij ciklknmtc pmyjmy `r l`bkic ph`nci`mns.
(:) Z̀ pr`tcgt g`nsulcrs ar`l amisc grcjkt sg`rknds by prkvmtc grcjkt burcmus,
knjcpcnjcnt `r pubikg grcjkt burcmus sh`uij bc cstmbikshcj.(3) Aknmngkmi cjugmtk`n sh`uij bc lmnjmt`ry mt sgh``is. Kt sh`uij a`gus `n thc
pr`jugtkvc usc `a grcjkt mnj pr`vkjc thc g`lpctcngc a`r m grktkgmi cvmiumtk`n `aaknmngkmi scrvkgcs rmthcr thmn pr`jugt en`wicjdc. Z` cnsurc thc hkdh qumikty `aaknmngkmi cjugmtk`n pr`drmls wkth`ut knaiucngc ar`l thc aknmngkmi scrvkgcsknjustry, cxtcrnmi cvmiumtk`ns by knjcpcnjcnt sgkcntksts hmvc t` bc strcndthcncj.H`wcvcr, aknmngkmi cjugmtk`n ks n` pmnmgcm mnj sh`uij n`t bc uscj ms msubstktutc a`r thc rcduimtk`n `a aknmngkmi scrvkgc pr`vkjcrs.
(1) Z̀ pr`l`tc cntrcprcncurshkp mnj mggcss t` aunjknd a`r stmrt-ups mnj knn`vmtkvcWLCs, cxpcrkcngcj-bmscj icmrnknd lcth`js sh`uij bc mj`ptcj kncntrcprcncurshkp cjugmtk`n, mnj thc vcnturc gmpktmi lmrect nccjs t` bc aurthcr
jcvci`pcj.
=;
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MJBK T`reknd _mpcr 37? Ncubcrdcr
RCACRCNGCW
Mlbuchi, W., B. J. Bcrnhckl, mnj M. Iusmrjk. 2?=:. Aknmngkmi Cjugmtk`n, AknmngkmiG`lpctcngc, mnj G`nsulcr Tciamrc. NBCR T`reknd _mpcr 2?1=8.
Gmlbrkjdc, LM6 Nmtk`nmi Burcmu `a Cg`n`lkg Rcscmrgh. MlkjžkĄ, D., M. Lmssmrm, mnj M. Lkmi`u. 2?=:. Msscssknd G`untrkcs‛ Aknmngkmi Kngiusk̀ n
Wtmnjknd ‗ M Ncw G`lp`sktc Knjcx. KLA T`reknd _mpcrs =:/71. Tmshkndt`n,JG6 Kntcrnmtk`nmi L`nctmry Aunj.
Mtekns`n, M., mnj A. Lcssy. 2?=2. Lcmsurknd Aknmngkmi Iktcrmgy6 Rcsuits `a thc @CGJ /Kntcrnmtk`nmi Nctw`re ̀ n Aknmngkmi Cjugmtk`n (KNAC) _ki`t Wtujy. @CGJT`reknd _mpcrs `n Aknmngc, Knsurmngc mnj _rkvmtc _cnsk`ns N`. =3. _mrks6@CGJ _ubikshknd.
Bmkn & G`lpmny. 2?=7. Gust`lcr I`ymity kn Rctmki Bmneknd6 Di`bmi Cjktk`n 2?=7. Bmkn& G`lpmny.
Bmncrfcc, M., C. Juai`, mnj R. H`rnbcge. 2?=:. (Lcmsurcj) _r`akt ks N`t Tciamrc6Cvkjcngc ar`l mn Cxpcrklcnt `n Bunjiknd Lkgr`grcjkt mnj Knsurmngc. NBCRT`reknd _mpcr 2?:44. Gmlbrkjdc, LM6 Nmtk`nmi Burcmu `a Cg`n`lkgRcscmrgh.
Bcge, Z., M. Jclkrdug-Eunt, mnj L. W. Lmrtkncz _crkm. 2??4. Rcmghknd @ut6 Mggcss t`mnj Ssc `a Bmneknd Wcrvkgcs mgr`ss G`untrkcs. F`urnmi `a Aknmngkmi Cg`n`lkgs 836 27:‗211.
Bcnjkd, L., L. Sntcrbcrd, mnj B. Wmrp`nd. 2?=2. @vcrvkcw `a thc Lkgr`grcjkt Wcgt`r knthc Cur`pcmn Snk`n 2?=?-==. Brusscis6 Cur`pcmn Lkgr`aknmngc Nctw`re.
Bcnjkd, L., L. Sntcrbcrd, mnj B. Wmrp`nd. 2?=:. @vcrvkcw `a thc Lkgr`grcjkt Wcgt`r kn
thc Cur`pcmn Snk`n 2?=2-=7. Brusscis6 Cur`pcmn Lkgr`aknmngc Nctw`re.BLV/GDM_/KAG. Dcrlmn Acjcrmi Lknkstry a`r Cg`n`lkg G``pcrmtk̀ n mnj Jcvci`plcnt
(BLV), G`nsuitmtkvc Dr`up t` Msskst thc _``r (GDM_), Kntcrnmtk`nmi AknmngcG`rp`rmtk`n (KAG) 2?==. Mjvmngknd Rcsp`nskbic Aknmngc a`r DrcmtcrJcvci`plcnt Klpmgt 2?==. G`nsuitmtk`n Jrmat. Fmnumry 24, 2?==. Tmshkndt`n,JG6 Dcrlmn Acjcrmi Lknkstry a`r Cg`n`lkg G``pcrmtk`n mnj Jcvci`plcnt(BLV), KAG, mnj GDM_.
BLV/DKV/KAG. Dcrlmn Acjcrmi Lknkstry a`r Cg`n`lkg G``pcrmtk`n mnj Jcvci`plcnt(BLV), Jcutghc Dcsciisghmat aùr Kntcrnmtk`nmic Vusmllcnmrbckt (DKV),Kntcrnmtk`nmi Aknmngc G`rp`rmtk`n (KAG) 2?=7. _r`drcss kn Rcsp`nskbicAknmngkmi Kngiusk`n6 Di`bmi Lmppknd Rcp`rt mnj Wcicgtcj Gmsc Wtujkcs.
Tmshkndt`n, J.G6 Dcrlmn Acjcrmi Lknkstry a`r Cg`n`lkg G``pcrmtk`n mnjJcvci`plcnt (BLV), KAG, mnj GDM_, Kntcrnmtk`nmi Aknmngc G``pcrmtk`n.
B``t, M. T. M. 2???. Rcimtk`nshkp Bmneknd6 Thmt J` Tc En`w0 F`urnmi `a AknmngkmiKntcrlcjkmtk`n ;6 4‗23.
Brcsicr, N., K. DrñÐi, mnj M. Zurncr. 2??4. Zhc R`ic `a Dcrlmn Wmvknds Bmnes kn_rcvcntknd Aknmngkmi Cxgiusk`n. Kn Ncw Ar`ntkcrs kn Bmneknd Wcrvkgcs, cjktcj byI. Mnjcri`nk, L. J. Brmdm, mnj C. L. Gmriuggk`. Bcrikn6 Wprkndcr. 2:4‗21;.
Brujcr, F., J. Ncubcrdcr, mnj W. Rêthec-Jñppncr. 2?==. Aknmngkmi G`nstrmknts `aCthnkg Cntrcprcncurshkp6 Cvkjcngc ar`l Dcrlmny. Kntcrnmtk`nmi F`urnmi ̀ aCntrcprcncurkmi Bchmvk`ur mnj Rcscmrgh =46 2;1‗7=7.
2?
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MJBK T`reknd _mpcr 37? Ncubcrdcr
Bughcr-E`cncn, Z., mnj M. Iusmrjk. 2?==. Aknmngkmi Iktcrmgy mnj Rctkrclcnt _imnnkndkn Dcrlmny. F`urnmi `a _cnsk`n Cg`n`lkgs mnj Aknmngc =?6 313‗38:.
Bunjcserklknmimlt. 2?=7. Gybcrgrklc. Bunjcsimdcbkij 2?=7. Tkcsbmjcn, Dcrlmny6Bunjcserklknmimlt.
Gcntcr a`r Cur`pcmn _`ikgy Wtujkcs-Cur`pcmn Grcjkt Rcscmrgh Knstktutc Brusscis(GC_W-CGRK). 2?=7. Z`wmrjs Bcttcr Ssc `a Grcjkt Rcp`rtknd kn Cur`pc. GC_W-CGRK Zmse A`rgc Rcp`rt . Brusscis6 GC_W-CGRK.
Gcntrc a`r Wtrmtcdy mnj Cvmiumtk`n Wcrvkgcs. 2?=?. Wtujy `n thc G`sts mnj Bcncakts `a_`ikgy Mgtk`ns kn thc Akcij `a cnsurknd mggcss t` m Bmskg Bmne Mgg`unt ‗ AknmiRcp`rt . Wcvcn`mes, SE6 Gcntrc a`r Wtrmtcdy mnj Cvmiumtk`n Wcrvkgcs.
Gcntrc a`r Wtrmtcdy mnj Cvmiumtk`n Wcrvkgcs. 2?=2. Cvmiumtk`n ̀ a Lclbcr Wtmtc_`ikgkcs t` Amgkiktmtc Mggcss t` Aknmngc a`r WLCs. Wcvcn`mes, SE6 Gcntrc a`rWtrmtcdy mnj Cvmiumtk`n Wcrvkgcs.
G`ljkrcgt. 2??;. Eunjcn-L`tkvc 2??; - Zmbuthclm Dcij6 Cknstciiundcn, Qcrhmitcn
unj Tksscn jcr Jcutsghcn. ]ukgeb`rn, Dcrlmny6 G`ljkrcgt.G`ljkrcgt. 2?=?. Eunjcn-L`tkvc 2?=?6 Dcikcbt, mbcr vcrnmghiêsskdt ‗ jkc Jcutsghcn
unj khrc Cknstciiund zu Dcij unj Aknmnzcn’. ]ukgeb`rn, Dcrlmny6 G`ljkrcgt.
G`lsg`rc. 2?==. L`bkic Bmneknd6 :? _r`zcnt Tmghstul untcr Wlmrtph`nc-Nutzcrn knCur`pm. http6//www.g`lsg`rc.g`l/dcr/Knskdhts/_rcss-Rcicmscs/2?==/3/Cur`pc-Wccs-:?-_crgcnt-Dr`wth-kn-L`bkic-Bmneknd-Zhr`udh-Wlmrtph`ncs (mggcsscj=8 N`vclbcr 2?=:).
G`nrmj, M., J. Ncubcrdcr, mnj L. Wghnckjcr-RckÐkd. 2??;. Dc`drmphkg mnjJcl`drmphkg Bmne @utrcmgh6 Cvkjcngc ar`l Dcrlmny‛s Zhrcc-_kiimr BmnekndWystcl. Grcjkt mnj Gmpktmi Lmrects (Ercjkt unj Empktmi) :26 744‗:==.
G`nrmj, M., J. Ncubcrdcr, mnj I. Zrkd` Dmlmrrm. 2?=:. Zhc Klpmgt `a Rcdk`nmiCg`n`lkg G`njktk`ns `n thc Caakgkcngy `a Wmvknds Bmnes kn thc Ikdht `aJcl`drmphkg Ghmndc. Grcjkt mnj Gmpktmi Lmrects :46 377‗34?.
Grëjkt Mdrkg`ic. 2?=:. G`nsulcr Grcjkt Lmrect kn Cur`pc. 2?=7 @vcrvkcw. Grëjkt Mdrkg`ic G`nsulcr Aknmngc. https6//www.gm-g`nsulcraknmngc.jc/ucbcr-uns/prcssc-metuciics.htli (mggcsscj 2? @gt`bcr 2?=:).
JB Rcscmrgh. 2?=2. Lkgr`aknmngc kn Cv`iutk`n. Mn Knjustry bctwccn Grksks mnj Mjvmngclcnt. JB Rcscmrgh Gurrcnt Kssucs Di`bmi Aknmngkmi Lmrects.Armneaurt, Dcrlmny6 Jcutsghc Bmne.
Jcdrysc, H., L. Ekl, mnj W. @ndcnm. 2??;. Lkgr`cg`n`lctrkgs `a Bmneknd . @xa`rj6
@xa`rj Snkvcrskty _rcss.Jcutsghc Bmne. 2?=:. Cg`n`lkgs mnj Aknmngc Ikvc kn Wgh``i!
https6//www.jb.g`l/gr/cn/g`ngrctc-aknmngkmi-iktcrmgy-knktkmtkvc.htl (mggcsscj =2Wcptclbcr 2?=:).
Jcutsghc Bunjcsbmne. 2?=7. Bmnestciicnstmtkstke 2?=7, Armneaurt ml Lmkn.https6//www.bunjcsbmne.jc/Rcjmetk`n/JC/J`wni`mjs/Qcr`caacntikghundcn/Bcrk ghtPWtujkc/bmnestciicnstmtkstkeP2?=7.pja(mggcsscj 2? Lmy 2?=3)
‚‚‚. 2?=:m. Bmnecnstmtkstke Fuik 2?=:, Wtmtkstksghcs Bckhcat = zul L`nmtsbcrkght.Armneaurt ml Lmkn.http6//www.bunjcsbmne.jc/Rcjmetk`n/JC/J`wni`mjs/Qcr`caacntikghundcn/Wtmtks
tksghcPBckhcatcP=/2?=:/2?=:P?4Pbmnecnstmtkstke.pja (mggcsscj 2? Lmy 2?=3)
2=
http://www.comscore.com/ger/Insights/Press-Releases/2011/5/Europe-Sees-40-Percent-Growth-in-Mobile-Banking-Through-Smartphoneshttp://www.comscore.com/ger/Insights/Press-Releases/2011/5/Europe-Sees-40-Percent-Growth-in-Mobile-Banking-Through-Smartphoneshttps://www.ca-consumerfinance.de/ueber-uns/presse-aktuelles.htmlhttps://www.ca-consumerfinance.de/ueber-uns/presse-aktuelles.htmlhttps://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Bericht_Studie/bankstellenstatistik_2013.pdfhttps://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Bericht_Studie/bankstellenstatistik_2013.pdfhttp://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Statistische_Beihefte_1/2014/2014_07_bankenstatistik.pdfhttp://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Statistische_Beihefte_1/2014/2014_07_bankenstatistik.pdfhttp://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Statistische_Beihefte_1/2014/2014_07_bankenstatistik.pdfhttp://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Statistische_Beihefte_1/2014/2014_07_bankenstatistik.pdfhttps://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Bericht_Studie/bankstellenstatistik_2013.pdfhttps://www.bundesbank.de/Redaktion/DE/Downloads/Veroeffentlichungen/Bericht_Studie/bankstellenstatistik_2013.pdfhttps://www.ca-consumerfinance.de/ueber-uns/presse-aktuelles.htmlhttps://www.ca-consumerfinance.de/ueber-uns/presse-aktuelles.htmlhttp://www.comscore.com/ger/Insights/Press-Releases/2011/5/Europe-Sees-40-Percent-Growth-in-Mobile-Banking-Through-Smartphoneshttp://www.comscore.com/ger/Insights/Press-Releases/2011/5/Europe-Sees-40-Percent-Growth-in-Mobile-Banking-Through-Smartphones
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MJBK T`reknd _mpcr 37? Ncubcrdcr
‚‚‚. 2?=:b. Vmhiundsvcrechrs- unj Tcrtpmpkcrmbwkgeiundsstmtkstkecn knJcutsghimnj 2??;-2?=7. Fuik 2?=:. Armneaurt ml Lmkn.https6//www.bunjcsbmne.jc/Rcjmetk`n/JC/J`wni`mjs/Wtmtkstkecn/DcijPSnjPEmpktmilmcretc/Vmhiundsvcrechr/zvsPjmtcn.pja (mggcsscj 2? Lmy 2?=3)
Jcutsghcs Lker`aknmnz Knstktut (JLK). 2?=7m. Meercjktkcrunds`rjnund jcs JLK Jcutsghcs Lker`aknmnz Knstktut c.Q. Amssund 7.?. v`l ?=.?4.2?=7. JcutsghcsLker`aknmnz Knstktut JLK c.Q.@aacnbmgh/Lmkn.
‚‚‚. 2?=7b. Lker`aknmnzkcrund kn Jcutsghimnj. Jms e``pcrmtkvc L`jcii. JcutsghcsLker`aknmnz Knstktut JLK c.Q. @aacnbmgh/Lmkn.
‚‚‚. 2?=:. Lmretùbcrskght. Lker`ercjktc kn Jcutsghimnj . Jcutsghcs Lker`aknmnzKnstktut JLK c.Q. @aacnbmgh/Lmkn.
Jcutsghcr Wpmremsscn- unj Dkr`vcrbmnj (JWDQ). 2?=7m. Metuciicr Wtmnjpunet.Kna`rlmtk`ncn mus jcr Wpmremsscn-Aknmnzdruppc 2?=7/?3 , JcutsghcrWpmremsscn- unj Dkr`vcrbmnj Bcrikn.
‚‚‚. 2?=7b. Dcsghêatszmhicn Vmhicn & Ametcn 2?=7. Jcutsghcr Wpmremsscn- unjDkr`vcrbmnj Bcrikn.http6//www.jsdv.jc/Pj`wni`mjPdmiicry/_ubikemtk`ncn/JWDQPDcsghmcatszmhicn P2?=7PJC.pja (mggcsscj 2; Wcptclbcr 2?=:).
Cg`n`lkst . 2?=2. Dcrlmny‛s Bmneknd Wystcl. @ij-amshk`ncj but kn Amv`ur. =?N`vclbcr.
Cisms, R., mnj F. _. Ermhncn. =;;8. Ks Rcimtk`nshkp Icnjknd Wpcgkmi0 Cvkjcngc ar`lGrcjkt-akic Jmtm kn Dcrlmny. F`urnmi `a Bmneknd mnj Aknmngc 226 =287‗=7=1.
Crtkndcr, W. mnj I. jc im L`ttc. 2?=7. Ickh‘ lkr wms! Hmnjcisbimtt. =: Lmrgh.http6//www.hmnjcisbimtt.g`l/untcrnchlcn/bmnecn/`niknc-ercjktpimtta`rlcn-ickh-
lkr-wms-scktc-mii/4;2721:-mii.htli (mggcsscj 2? N`vclbcr 2?=:).CSR-ICX. 2?=:. Jkrcgtkvc 2?=:/;2/CS `a thc Cur`pcmn _mrikmlcnt mnj `a thc G`ungki
`a 27 Fuiy 2?=: `n thc G`lpmrmbkikty `a Accs Rcimtcj t` _mylcnt Mgg`unts,_mylcnt Mgg`unt Wwktghknd mnj Mggcss t` _mylcnt Mgg`unts wkth BmskgAcmturcs. @aakgkmi F`urnmi `a thc Cur`pcmn Snk`n. I 234/2=:. 28.8.2?=:.Brusscis. http6//cur-icx.cur`pm.cu/icdmi-g`ntcnt/CN/ZXZ/0urk
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MJBK T`reknd _mpcr 37? Ncubcrdcr
‚‚‚. 2?=2. Rctmki Aknmngkmi Wcrvkgcs. Wpcgkmi Cur`bmr`lctcr 747. Cur`pcmnG`llkssk`n. Brusscis6 Cur`pcmn G`llkssk`n.
CSW@G@. 2?=:. Cur`pcmn W`gkmi G`ntrmgt Jcgimrmtk`n. http6//www.cus`g`.cu/(mggcsscj =3 Wcptclbcr 2?=:).
Aknmngkmi Wcrvkgcs Muth`rkty. =;;;. G`nsulcr Cjugmtk`n6 M Wtrmtcdy a`r _r`l`tknd_ubikg Snjcrstmnjknd ̀ a thc Aknmngkmi Wystcl. I`nj`n6 Aknmngkmi Wcrvkgcs Muth`rkty.
Dcsmltvcrbmnj jcr Jcutsghcn Qcrskghcrundswkrtsghmat (DJQ) 2?=7m. Wtmtkstkgmi[cmrb``e `a Dcrlmn Knsurmngc. Dcsmltvcrbmnj jcr JcutsghcnQcrskghcrundswkrtsghmat c.Q.. Bcrikn.
‚‚‚. 2?=7b. Jkc jcutsghcn Qcrskghcrcr. Vmhicn unj Ametcn. Dcsmltvcrbmnj jcrJcutsghcn Qcrskghcrundswkrtsghmat c.Q. Bcrikn.http6//www.djv.jc/zmhicn-ametcn/brmnghcnjmtcn/ucbcrbikge/#bcstmnj (mggcsscj 8 Wcptclbcr 2?=:).
Di`bmi Cg`n`ly. 2?=:. http6//www.thcdi`bmicg`n`ly.g`l/ (mggcsscj =? Wcptclbcr
2?=:).Dr`ss, R. 2?=:. A`rcw`rj . Kn Aknmngkmi G`nsulcr _r`tcgtk`n mnj Aknmngkmi Cjugmtk`n
kn Dcrlmny cjktcj by Zkaac, M.. B`nn mnj Csghb`rn, Dcrlmny6 DKV JcutsghcDcsciisghmat aùr Kntcrnmtk`nmic Vusmllcnmrbckt (DKV). 7.
Hmnjcisbimtt . 2?=:. CS-_mrimlcnt bcsghikcÐt Dkr`e`nt` aùr fcjcrlmnn. =3.?:.2?=:.http6//www.hmnjcisbimtt.g`l/p`iktke/kntcrnmtk`nmi/ncurcdciund-cu-pmrimlcnt-bcsghikcsst-dkr è`nt`-aucr-fcjcrlmnn/;4112?2.htli (mggcsscj == Wcptclbcr2?=:).
Hmrh`aa, J., mnj Z. Eñrtknd. =;;8. Icnjknd Rcimtk`nshkps kn Dcrlmny. ClpkrkgmiCvkjcngc ar`l Wurvcy Jmtm. F`urnmi `a Bmneknd mnj Aknmngc 226 =7=4‗=737.
Knstktut aùr Lkttcistmnjsa`rsghund. 2?=:. Lkttcistmnj kl Ùbcrbikge. http6//www.kal-b`nn.`rd/stmtkstkecn/lkttcistmnj-kl-ucbcrbikge/#mgg`rjk`n
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MJBK T`reknd _mpcr 37? Ncubcrdcr
jcr Euituslknkstcr jcr Iênjcr kn jcr Bunjcsrcpubike Jcutsghimnj KK M. Bcrikn.http6//www.ele.`rd/akicmjlkn/pja/_rcsscSnjMetuciics/2?=7/Qcrbrmughcrbkijund.pja (mggcsscj 2? Lmy 2?=3).
En`bi`gh, L., T. Immtz, J. Ncubcrdcr, I. Aimgh, H. Mnscn mnj J. E`rgzme. 2?=:. kaa-
Ùbcrsghuijundsrcp`rt 2?=:. Ùbcrsghuijund kn Jcutsghimnj , knstktut aùraknmnzjkcnstickstundcn c.Q. Hmlburd.
E`rgzme, J., mnj L. Tkiecn. 2??;. Qcrbrmughcrkna`rlmtk`n Wg`rknd. D_A`rsghundsdruppc Knstktut aùr Drunjimdcn- unj _r`drmlla`rsghund. Lùnghcn.
Ic Bimng, F., M. _`rpkdikm, A. Zcppm, F. Vhu, mnj L. Vkcdcilcycr. 2?=:. H`usch`ijWmvknd Bchmvk`r mnj Grcjkt G`nstrmknts kn thc Cur` Mrcm. Jksgussk`n _mpcrJcutsghc Bunjcsbmne N` =1/2?=:.
Ichlmnn, C., mnj J. Ncubcrdcr. 2??=. J` Icnjknd Rcimtk`nshkps Lmttcr0 Cvkjcngcar`l Bmne Wurvcy Jmtm kn Dcrlmny. F`urnmi `a Cg`n`lkg Bchmvk`r mnj@rdmnkzmtk`n :36 77;‗73;.
Iusmrjk, M. mnj @. W. Lktghcii. 2?=:. Zhc Cg`n`lkg Klp`rtmngc `a Aknmngkmi Iktcrmgy6Zhc`ry mnj Cvkjcngc. F`urnmi ̀ a Cg`n`lkg Iktcrmturc 326 3‗::.
Qcrbmnj Bkijundslcjkcn. 2?=:. @niknc Cjugmtk`nmi Lcjkm. Snkvcrskty `a Mudsburdg`lpictcs i`nd-tcrl rcscmrgh pr`fcgt Qcrbmnj Bkijundslcjkcn. Armneaurt mlLmkn. http6//www.bkijundslcjkcn.jc/prcssc/prcssclkttckiundcn/pl2?=:/2?=:-?7-=8-mudsburd-aknmi/ (mggcsscj 2? Lmy 2?=3).
Lcreci, M. 2?=:. Rcdkcrundscreiêrund v`n Bunjcsemnzicrkn Lcreci . 2;. Fmnumry 2?=:.Jkc Bunjcsrcdkcrund. Jcutsghcr Bunjcstmd. Bcrikn.http6//www.bunjcsrcdkcrund.jc/G`ntcnt/JC/Rcdkcrundscreimcrund/2?=:/2?=:-?=-2;-bt-lcreci.htli (mggcsscj 2: N`vclbcr 2?=:).
Ncubcrdcr, J., mnj W. Rêthec-Jñppncr. 2??8. Tkresmleckt v`n Imnjcsbùrdsghmatcnunj Bùrdsghmatsbmnecn6 cknc clpkrksghc Wtujkc aùr Lcgeicnburd-Q`rp`llcrn.Vcktsghrkat aùr ñaacntikghc unj dclcknwkrtsghmatikghc Sntcrnchlcn 7=(:)6 781‗:?1.
Ncubcrdcr, J., mnj W. Rêthec-Jñppncr. 2?=3. Zhc R`ic `a Jcl`drmphkgs kn WlmiiBuskncss I`mn _rkgknd. Wlmii Buskncss Cg`n`lkgs ::6 :==‗:2:.
N`dicr, I., mnj S. Rckancr. 2?=:. Kntr`jugtk`n6 Zhc Ncw Jklcnsk`n `a Ikac Zklc kn thcImw `a G`ntrmgts mnj @bikdmtk`ns. Kn Ikac Zklc G`ntrmgts. W`gkmi I`nd-tcrlG`ntrmgts kn Imb`ur, Zcnmngy mnj G`nsulcr Grcjkt Imw , cjktcj by I. N`dicrmnj S. Rckancr. Zhc Hmduc, Ncthcrimnjs6 Cicvcn Kntcrnmtk`nmi _ubikshknd. =‗4=.
@rdmnksmtk`n a`r Cg`n`lkg G`-`pcrmtk`n mnj Jcvci`plcnt (@CGJ). 2??3m. Klpr`vkndAknmngkmi Iktcrmgy. Mnmiysks `a Kssucs mnj _`ikgkcs. _mrks6 @CGJ.
‚‚‚. 2??3b. Rcg`llcnjmtk`n `n _rkngkpics mnj D``j _rmgtkgcs a`r AknmngkmiCjugmtk`n mnj Mwmrcncss. _mrks6 @CGJ.
‚‚‚. 2?=:. Dcrlmny. Eccpknd thc Cjdc6 G`lpctktkvcncss a`r Kngiuskvc Dr`wth.’Bcttcr _`ikgkcs“ Wcrkcs. _mrks6 _mrks6 @CGJ.
‚‚‚. 2?=3. Wcia-clpi`ylcnt rmtc (knjkgmt`r). j`k6 =?.=484/ab384=3c-cn.https6//jmtm.`cgj.`rd/clp/scia-clpi`ylcnt-rmtc.htl (Mggcsscj `n ?1 Acbrumry2?=3)
_cmghy, W., mnj M. R`c. 2??1. Mggcss t` Aknmngc ‗ Thmt J`cs Kt Lcmn mnj H`w J`
Wmvknds Bmnes A`stcr Mggcss. _crspcgtkvcs :;. @xa`rj _`ikgy Lmnmdclcnt.
2:
http://www.kmk.org/fileadmin/pdf/PresseUndAktuelles/2013/Verbraucherbildung.pdfhttp://www.kmk.org/fileadmin/pdf/PresseUndAktuelles/2013/Verbraucherbildung.pdfhttp://www.bundesregierung.de/Content/DE/Regierungserklaerung/2014/2014-01-29-bt-merkel.htmlhttp://www.bundesregierung.de/Content/DE/Regierungserklaerung/2014/2014-01-29-bt-merkel.htmlhttp://www.bundesregierung.de/Content/DE/Regierungserklaerung/2014/2014-01-29-bt-merkel.htmlhttp://www.bundesregierung.de/Content/DE/Regierungserklaerung/2014/2014-01-29-bt-merkel.htmlhttp://www.kmk.org/fileadmin/pdf/PresseUndAktuelles/2013/Verbraucherbildung.pdfhttp://www.kmk.org/fileadmin/pdf/PresseUndAktuelles/2013/Verbraucherbildung.pdf
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MJBK T`reknd _mpcr 37? Ncubcrdcr
Rckancr, S. 2??1m. CS Dcncrmi Rcp`rt. Kn Aknmngkmi Iktcrmgy kn Cur`pc, cjktcj by S.Rckancr. W`gkmi Aknmngc Q`i. ;. N`l`s6 =3‗71.
‚‚‚. 2??1b. Aknmngkmi Cjugmtk`n. Kn Aknmngkmi Iktcrmgy kn Cur`pc, cjktcj by S.Rckancr. W`gkmi Aknmngc Q`i. ;. N`l`s6 ;‗=:.
‚‚‚. 2?==. Lyth`s Lkgr`-Icnjknd. Vur _r`juetk`n ckncs Q`rvcrstênjnksscs klErcjktvcrhêitnks. Erktksghc Fustkz :6 7;?-:==.
‚‚‚. 2?=2. Rkdht t` m Bmskg Bmne Mgg`unt a`r @vcrknjcbtcj G`nsulcrs Z`wmrjsRcsp`nskbic Bmneknd . Hcmrknd `a thc G`llkttcc `n thc Kntcrnmi Lmrect mnjG`nsulcr _r`tcgtk`n. Snkvcrsmi Mggcss t` m Bmskg _mylcnt Mgg`unt. Brusscis6Cur`pcmn _mrikmlcnt.
Rckancr, S., mnj M. Wghcih`wc. 2?=?. Aknmngkmi Cjugmtk`n. F`urnmi `a W`gkmi WgkcngcCjugmtk`n ;6 72‗:2.
Wghêacr, J., mnj E. A. Vkllcrlmnn. 2??8. Sntcrnchlcnsaknmnzkcrund - WknjAñrjcrbmnecn n`gh zcktdclêÐ0 Kn Wtrmtcdksghcs Lmnmdclcnt kn Añrjcrbmnecn
- Dcsghêatsl`jciic - E`nzcptc, Knstrulcntc, cjktcj by A. Ecupcr mnj J._ughtm. Tkcsbmjcn, Dcrlmny6 Dmbicr. 21;‗2;:.
Wghlkjt, M. D., mnj L. vmn Ciemn. 2??1. Zhc Lmgr`cg`n`lkg Bcncakts `a DcrlmnDumrmntcc Bmnes. Knstktut aùr Lkttcistmnjsñe`n`lkc, Snkvcrskty `a Zrkcr, Zrkcr.
Wghlkjt, M. D., mnj L. vmn Ciemn. 2?=?. Dcsmltwkrtsghmatikghcr Nutzcn jcr jcutsghcnBùrdsghmatsbmnecn. Knstktut aùr Lkttcistmnjsñe`n`lkc, Snkvcrskty `a Zrkcr, Zrkcr.
Wtmtkstm. 2?=2. Bcvñiecrund - Vmhi jcr Cknw`hncr kn Jcutsghimnj nmgh Mitcrsdruppcnml 7=. Jczclbcr 2?=7. Wtmtkstm. Hmlburd.http6//jc.stmtkstm.g`l/stmtkstke/jmtcn/stujkc/=713/ularmdc/bcv`ciecrund-jcutsghimnjs-nmgh-mitcrsdruppcn/(mggcsscj 8 Wcptclbcr 2?=:).
‚‚‚. 2?=7. Rmneknd jcr L-G`llcrgc Emtcd`rkcn lkt jcr stêrestcn Nutzund jurghWlmrtph`nc-Bcsktzcr kn Jcutsghimnj kl Fmhr 2?=7. Wtmtkstm. Hmlburd.http6//jc.stmtkstm.g`l/stmtkstke/jmtcn/stujkc/2;=?==/ularmdc/l-g`llcrgc-emtcd`rkcn-lkt-jcr-stmcrestcn-nutzund-jurgh-slmrtph`nc-bcsktzcr/ (mggcsscj2? N`vclbcr 2?=:).
‚‚‚. 2?=:. Cur`pêksghc Snk`n & Cur`-V`nc6 Dcsmltbcvñiecrund v`n 2??: bks2?=: (kn Lkiik`ncn Cknw`hncr). Wtmtkstm. Hmlburd.http6//jc.stmtkstm.g`l/stmtkstke/jmtcn/stujkc/=:?73/ularmdc/cur`pmcksghc-unk`n-bcv`ciecrund-cknw`hncr/ (mggcsscj 4 @gt`bcr 2?=:).
Wtcamnk, L. I., mnj Q. Qmggm. 2?=:. Wlmii Akrls‛ Grcjkt Mggcss kn thc Cur` Mrcm6 J`csDcnjcr Lmttcr0 GCWka` Cg`n`lkg Wtujkcs. j`k6=?.=?;7/gcska`/kau?7=
Wtckn, K. 2?=:. Zhc _rkgc Klpmgt `a Icnjknd Rcimtk`nshkps. Dcrlmn Cg`n`lkg Rcvkcw . A`rthg`lknd. =‗27.
Wtkatund Tmrcntcst. 2?=7. Wlmvm unj Muxl`ncy6 _rkvmtercjktc kl Kntcrnct.https6//www.tcst.jc/Wlmvm-unj-Muxl`ncy-_rkvmtercjktc-kl-Kntcrnct-:3:?:2=-:3:?:21/ (mggcsscj 2? N`vclbcr 2?=:).
Wmghvcrstênjkdcnrmt zur Bcdutmghtund jcr dcsmltwkrtsghmatikghcn Cntwkgeiund (WQR).2??8. Jms jcutsghc Aknmnzsystcl6 Caakzkcnz stckdcrn - Wtmbkiktêt crhñhcn. Wmghvcrstênjkdcnrmt zur Bcdutmghtund jcr dcsmltwkrtsghmatikghcn Cntwkgeiund(G`ungki `a Cg`n`lkg Mjvks`rs). Cxpcrtksc kl Muatrmd jcr Bunjcsrcdkcrund,Tkcsbmjcn, Dcrlmny.
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http://de.statista.com/statistik/daten/studie/1365/umfrage/bevoelkerung-deutschlands-nach-altersgruppen/http://de.statista.com/statistik/daten/studie/1365/umfrage/bevoelkerung-deutschlands-nach-altersgruppen/http://de.statista.com/statistik/daten/studie/291011/umfrage/m-commerce-kategorien-mit-der-staerksten-nutzung-durch-smartphone-besitzer/http://de.statista.com/statistik/daten/studie/291011/umfrage/m-commerce-kategorien-mit-der-staerksten-nutzung-durch-smartphone-besitzer/http://de.statista.com/statistik/daten/studie/14035/umfrage/europaeische-union-bevoelkerung-einwohner/http://de.statista.com/statistik/daten/studie/14035/umfrage/europaeische-union-bevoelkerung-einwohner/https://www.test.de/Smava-und-Auxmoney-Privatkredite-im-Internet-4540421-4540426/https://www.test.de/Smava-und-Auxmoney-Privatkredite-im-Internet-4540421-4540426/https://www.test.de/Smava-und-Auxmoney-Privatkredite-im-Internet-4540421-4540426/https://www.test.de/Smava-und-Auxmoney-Privatkredite-im-Internet-4540421-4540426/http://de.statista.com/statistik/daten/studie/14035/umfrage/europaeische-union-bevoelkerung-einwohner/http://de.statista.com/statistik/daten/studie/14035/umfrage/europaeische-union-bevoelkerung-einwohner/http://de.statista.com/statistik/daten/studie/291011/umfrage/m-commerce-kategorien-mit-der-staerksten-nutz