SMB

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

Meeting was held with citizens joined the self-employment programme in Gabala More than 800 business entities and potential entrepreneurs have attended the business trainings Entrepreneurs engaged in production are invited to the training of the SMB Model Enterprise “Unibroad” educational platform among the best startups around the world The Azerbaijani startup produced the “Sculptor” device The startup to represent our country unveiled at "AIM Congress" Meeting was held with Samukh entrepreneurs, with the SMB friend office goes operational More than 99 thousand services provided to entrepreneurs at the SMB houses in Q1 of current year A survey is conducted among foreign trade participants Awareness-raising event organized by the Electronic Security Service at KOBİA

KOBİA: "Work is underway on new support mechanisms for SMEs" 24.06.22

The process of establishing the SME Development Fund, which will expand the access of SMEs to financial resources, continues. The regulatory framework for the application of the clustering model is nearing completion. Work is underway to create an e-KOB house platform.

This was stated by the Chairman of the Board of the Small and Medium Business Development Agency (KOBİA) Orkhan Mammadov at a business forum on "The role of the BSTDB in supporting a diversified and innovative economy in a changing world" organized by the Black Sea Trade and Development Bank (BSTDB).

It was noted that the innovative diversification of business requires adequate funding. Alternative sources of finance will be important in the future to ensure sustainable financial resources. The main feature of the SME Development Fund, which is currently being established, is its ability to offer grants and technical assistance.

Public-private partnerships and clustering are good models in terms of diversifying the national economy and involving the private sector in the process. The Tax Code provides a number of tax benefits for SME cluster companies and SME cluster participants. The formation of SME clusters will stimulate more intensive and sustainable economic development and a significant expansion of employment opportunities. These business models can also be applied in the process of rebuilding liberated Karabakh and re-integrating it into the country's economic value chain.

Digitization of SMEs and increasing their role in the green economy is also a key element in achieving economic diversification and innovation. The services of the e-KOB house platform, which is currently being created, will be provided in a non-stop-shop mode, which will make the services more accessible to SMEs.