SMB

We believe Azerbaijan’s socio-economic development is closely linked with entrepreneurship and its future development!

27 June – International Day of Micro-, Small and Medium-sized Enterprises: SMEs Changing the World A reception of entrepreneurs will be held in Balakan Businessmen of the Nigde (Niğde) Region of Türkiye Visited the Baku SME House Investment Portal: A Support Tool Bringing Together Entrepreneurs and Investors on One Platform Azerbaijan Pavilion Featured at IsDB’s 14th Private Sector Forum Exhibition Winners of the Startup Competition Held Within the Framework of the Islamic Development Bank Group Annual Meetings Announced Support for Expanding Sales Opportunities of SMEs The “7th Local Companies Promotion Exhibition” is being held HELF and AZHAB Forums Held in Baku During the 51st Annual Meetings of the Islamic Development Bank Group Startup Competition Launched Within the Framework of the IsDB Annual Meetings

A new production cooperative created in Aghdash 10.09.21

Production Cooperative “Aran” has been established in Yenija village of the Aghdash region with the support of the Small and Medium Business Development Agency (SMBDA) and the Ministry of Agriculture.

The cooperative consists of 5 farms operating in the field of agriculture and covers an area of 57 hectares. It is planned to plant crops on the land plot belonging to the cooperative, including a pomegranate garden on 15 hectares, and grain, corn, rice, and clover on 42 hectares.

In the course of preparing the appropriate documents and registering the "Aran" Production Cooperative, the Goychay-Aghdash SMB Development Center (SMBDC) provided the necessary information and consulting services, legal assistance, as well as information on cooperatives and tax legislation.

SMBDA and the Agency’s regional structural units – SMB Development Center and SMB friend – will continue to provide the “Aran” Production Cooperative with the necessary assistance.

Note that creating agricultural cooperatives allows more efficiently using available resources (land, property, etc.), which increases the income of farmers by reducing costs. Cooperatives are also important in terms of attracting large investments in the economy, increasing the production of competitive products, expanding access to foreign markets, and promoting clustering in the agricultural sector.