Azernews.Az

By Leman Mammadova

Azerbaijan’s Agency for the Development of Small and Medium-sized Enterprises (SMEs) continues to stimulate activities of micro-, small- and medium-sized businesses in the country.

The Agency has held a meeting with business associations operating in the country, which bring together hundreds of entrepreneurs.

The meeting was held with the participation of producers and exporters of pomegranates, wine products, persimmons, olives, building materials, furniture, containers, textiles, machinery and equipment, as well as beekeepers, tourism sphere entrepreneurs, as well as representatives of business associations of women and people with disabilities.

The meeting participants were informed about the mechanisms of state support, including the rules of state support in the field of domestic market research, approved by a decree dated May 29, 2019.

The meeting also discussed opportunities for strengthening business associations and cooperation with the Agency in this area; various proposals were made and entrepreneurs' questions were answered.

The representatives of business associations participating in the event expressed particular interest in the domestic market research, forthcoming reduction of costs and risks in relevant areas as a result of state support for domestic market research. They also expressed their readiness to make a significant contribution to the creation of new areas of production, products and services.

The state support for domestic market research is provided to micro-, small- and medium-sized businesses, and entrepreneurs interested in domestic market research may apply to the Agency.

Domestic market research is an activity carried out to determine the current situation of the domestic market in the light of the expansion of the activities of SMEs, as well as the creation of new types of products or services.

Local and foreign legal entities and individuals, including universities, institutes, special research and analysis centers, consulting companies will be involved in the domestic market research.

Eighty percent of the costs of researches conducted on requests from micro-enterprises, and 50 percent from small businesses will be covered by the state. The amount of funds allocated for each study will be up to 20,000 manats ($11,730).

The main task of the SMEs Development Agency is ensuring the succession of reforms, improvement of the business regulation system, and application of effective coordination, enhancing the role and competitiveness of SMEs in the country's economy, as well as the compliance of the management system in this area with modern requirements.

The share of SMEs in employment in Azerbaijan was 76 percent last year, and in recent years, comprehensive work has been carried out for the development of SMEs. In particular, inspections of business entities have been suspended and the process of obtaining licenses has been simplified.

The share of SMEs in Azerbaijan’s foreign trade is planned to increase to 40 percent after 2025.

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Leman Mammadova is AzerNews’ staff journalist, follow her on Twitter: @leman_888

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