SMB

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

About 8 thousand B2B services were rendered to entrepreneurs in the “Baku SMB House” The workshop focusing on securing investments for small and medium-sized businesses (SMBs) and startups is scheduled. What government services do entrepreneurs most frequently request at the "Baku SMB House"? Is it possible to get a duplicate of the “startup” certificate? KOBİA encourages investors to invest in projects led by small and SMBs and startups A seminar was conducted on the theme of "Transforming SMBs towards a Green Economy and Green Finance" 6 micro-enterpreneurs have been awarded with "Startup" certificates B2B business meetings were convened between Azerbaijani and Pakistani businessmen The representatives of KOBİA visited Saudia Arabia Meeting with women entrepreneurs in Sumgait

The procedure for financing projects related to the development of micro, small and medium business approved 03.10.20

The "Procedure for financing educational, scientific, research, and support projects related to the development of micro, small and medium business" dated September 30, 2020, was approved by the Decree of the Azerbaijani Cabinet of Ministers.

This document sets out the procedure for financing educational, scientific, research, and support projects related to the development of micro, small and medium business (SMBs), as well as for organizing and conducting bids (tenders) for financing in the country.

Financing of projects on the development of SMBs will be carried out by the Small and Medium Business Development Agency of the Republic of Azerbaijan (SMBDA) following the Law "On Grants" of the Republic of Azerbaijan, as well as through competitions on educational, scientific, research, and support projects in accordance with the Procedure.

Any legal entity of micro, small and medium business (SMBs) or individual engaged in entrepreneurial activity is entitled to participate in the competition. The announcement of the competition and information on its results will be regularly published in the media, as well as on the Agency's official website www.smb.gov.az.

The implementation period for projects submitted for the competition must not be less than 3 months and no more than 12 months. The cost of financing for each project is set at up to 20,000 Manats. Competitive selection of projects will be carried out by SMBDA in compliance with the principles of transparency, equality, efficiency, and priority of performance criteria.

Pursuant to the Procedure, financing educational, scientific, research, and support projects on the development of SMBs will have a positive impact on the development of SMBs in our country, including the implementation of new mechanisms and innovative projects in this area, support for start-up projects, participation of SMBs in training programs, seminars, consultations, information exchange, increasing knowledge and skills, introducing scientific knowledge on SMBs, as well as inventions, utility models that affect the activities of entrepreneurs, business processes, scientific study, and research of technological innovations and industrial designs will be important in terms of expanding ties with educational institutions in this direction.