Azernews.Az

By Rasana Gasimova

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.

“Churros” bakery shop has opened in Baku with the support of the Agency.

That “Churros” is located at the Fountain Square. The shop bakes and sells Spanish sweets – churros, Trend reported on October 19, referring to the Agency.

At the same time, it offers various kinds of tea and coffee, cocktails and other cold drinks. Currently, five people are employed at ”Churros”.

The SMEs Development Agency supported the project in the areas of consulting services, coordination with relevant government agencies, etc.

The shop is planning to expand and open its branches in other districts of Baku.

The mission of the Agency for the Development of Small and Medium Enterprises is to increase the efficiency of small and medium enterprise system regulation, ensure a variety of support mechanisms and entrepreneurs’ smooth access thereto, achieve sustainable SMEs sector development and its increased contribution to the national economy. The Agency’s main target is to fulfill an important mission of being a friend of entrepreneur.

While ensuring proper regulation of SMEs’ activity, the Agency’s goal is to use a flexible control system, broadly implemented in this area, in order to meet modern requirements in compliance with international experience, effectively coordinate mechanisms to increase the contribution and share of micro, small and medium-sized businesses in the national economy.

The goals also include boosting SMEs’ competitiveness, presenting them with broader opportunities to access financial resources, improving mechanisms to provide them with institutional support, coordinating the activities implemented by public and private entities in this area, establishing favorable business environment to ensure development of entrepreneurship in the country’s regions and attracting domestic and foreign investments to this area.

The SME Development Agency has supported the implementation of a number of business initiatives and projects in order to increase the role of micro and small entrepreneurs in the country's economy, as well as increase their share in employment. The Agency will continue to support the implementation of start-ups, business initiatives and projects of entrepreneurs in the future through state support mechanisms, as well as at its own expense.

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

The stand of the Agency won a “Best social project” award at the 2nd Azerbaijan International Exhibition of Gifts and Promo Items (Gift & Promo 2019) held in Baku on September 12-14.

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