Yerevan /Mediamax/. About 39% privately held businesses in Armenia plan their activity 1-3 years ahead, and only 22% - for the term exceeding 3 years.

As Mediamax was told in Marketing Department of “Grant Thornton Amyot”, following the results of the International Business Report of “Grant Thornton International”, the highest proportions on medium-term planning were in Denmark (64%), followed by New Zealand and the United Kingdom (both 60%). Privately held businesses in mainland China are the longest term planners with 44% of businesses planning more than three years ahead.

35% of Armenian privately held businesses are inclined to short-term business planning (up to 1 year), and globally short term planning is favored by 21% of privately held businesses.

Gurgen Hakobyan, Partner at Grant Thornton Amyot, explains that in Armenia 3 years is the most common planning period. This is quite justifiable taking into account the economic instability. “At the same time, the global economic downturn is also challenging the formal planning and making it more and more flexible to be able to respond to arising difficulties”, Gurgen Hakobyan believes.

The International Business Report also revealed moods of Armenian businessmen concerning steps on increasing profitability. In the majority of cases, their opinions coincided with the results of the global survey (innovation and price formation policy), except for the position on cutting down expenses. Globally, this index makes 18%, while in Armenia – 7%.