Domestic market research provides the entrepreneur with the dynamics of development of the field, production and export opportunities, competitors, necessary documents, state support measures, consumer views and other related information.

SMBs seeking to expand their business activities and produce new products and services are given opportunity to apply to the Small and Medium Business Development Agency (KOBİA) for domestic market research in the relevant field. For this purpose, SMBs are encouraged to apply directly or electronically by filling out the appropriate application form on the Agency's website www.smb.gov.az.

It is significant to underline that market research is of great importance when expanding production and creating new products and services. Market research provides the entrepreneur with complete information on the current state of the market, including the development dynamics of the field, production and export prospects, required workforce, sales, competitors, documentation, consumer opinions, price, state support measures, etc. This provides in-depth market information to entrepreneurs seeking to start a business, produce new products and services, insuring them against risks that may occur later. Part of the cost that SMBs have to bear to conduct market research is covered by state support. Thus, 80% of the cost for each domestic market research performed based on the application of a micro business entity, 50% of the cost of the research performed at the request of a small business entity is paid by the state. The amount of support paid for each domestic market research is up to 20,000 manats. Entrepreneurs are stimulated to apply for market research individually or in groups.

For more information on domestic market research visit the following link: https://bit.ly/3DUJGHU

Powered by Froala Editor