The Small and Medium Business (SMB) Development Agency of the Republic of Azerbaijan was established in accordance with the Decree of the President of the Republic of Azerbaijan dated December 28, 2017. The Agency Charter and structure were endorsed by the Decree of the President of Azerbaijan dated June 26, 2018.
As a legal entity under the Ministry of Economy, the Agency is authorized to support the development of small and medium businesses (SMBs) in the country by providing SMBs with a number of services as well as ensuring coordination and regulation of services rendered by government entities to SMBs.
The Agency leadership comprises 7 members of the Supervision Council. The Council consists of deputy ministers of Finance, Labor and Social Protection of Population, and Agriculture, representative of the State Tax Service under the Ministry of Economy of the Republic of Azerbaijan, as well as Deputy Chairman of the State Agency for Citizens’ Service and Social Innovation under the President of the Republic of Azerbaijan and President of the National Confederation of Entrepreneurs (Employers') Organizations of Azerbaijan. The Council is chaired by the Minister of Economy of the Republic of Azerbaijan.
The Agency Management Board consists of five members and ensures supervision of the Agency’s daily activity.
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The Agency consists of the following divisions:
- Staff of the Small and Medium Business Development Agency of the Republic of Azerbaijan;
- Houses of Small and Medium Business Development;
- Centers of Small and Medium Business Development;
- Public-Private Partnership Development Center;
- Foundations of Small and Medium Business Development.
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While ensuring proper regulation of SMBs activity, the Agency’s goal is to use a flexible supervision system, broadly implemented in this area as meeting modern requirements in compliance with international experience, and effective coordination mechanisms so as to increase the contribution and share of micro, small and medium-sized businesses in the national economy, boost their competitiveness, present them with broader opportunities to access financial resources, improve mechanisms to provide them with institutional support, coordinate the activities implemented by public and private entities in this area, establish favorable business environment to ensure development of entrepreneurship in the country’s regions and attract domestic and foreign investments to this area of activity.
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The Agency’s mission is to increase the efficiency of small and medium enterprise system regulation, ensure a variety of support mechanisms and entrepreneurs’ smooth access thereto, achieve sustainable SMBs sector development and its increased contribution to the national economy.
The Agency’s main target is to fulfill an important mission of an entrepreneur’s friend.
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To ensure sustainable economic development of Azerbaijan, priority should be given to enhancing the role of small and medium businesses in economic development, boosting SMBs contribution to GDP and employment, increasing competitiveness of SMBs, providing them with cost-effective and efficient access to financial resources, mainly using SMBs for the production of consumer products, as well as expanding SMBs opportunities to access foreign markets.
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