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An event was organized for consulting companies to attract government support for domestic market research 28.08.19

As reported, The Small and Medium Business (SMB) Development Agency of the Republic of Azerbaijan has begun accepting applications from micro, small and medium businesses to provide government support for domestic market research. According to requests received, it is expected that relevant market research will be prepared according to the request of SMBDA by the specialized local and foreign legal and physical persons, including consulting companies.

To this end, on August 28, SMBDA held an event to inform local and foreign legal entities and individuals on domestic market research. The event, which was attended by representatives of local and foreign consulting companies, provided detailed information on the requirements and criteria for conducting internal market research and answered the questions of participants.

It was stated that in order to promote the competitive production of micro, small and medium-sized businesses, SMBDA has completed organizational activities to ensure the implementation of the Regulations approved by the Decree of the President of the Republic of Azerbaijan dated May 29, 2019, and started to receive applications from entrepreneurs. It was also noted that domestic market research is an activity aimed at expanding the activities of SMEs, as well as identifying the current state of the domestic market in the development and improvement of new products or services. Local and foreign legal entities and individuals (individual entrepreneurs), including universities, institutions, special research and analysis centers, consulting companies will be involved in the preparation of domestic market research. 80% of the costs for domestic market research based on the request of a micro-business entity and 50% based on the request of a small business entity will be covered by the government. In general, the amount of support for each domestic market research will not exceed 20 000 AZN. Micro, small and medium-sized businesses can obtain detailed information on domestic market research and the application form from the official website of the SMBDA www.smb.gov.az.