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

Cooperation between entrepreneurs and the financial-banking sector discussed 09.03.23

Information was provided on the applications of entrepreneurs and the results of surveys conducted on the access to financial resources of SMBs.

The next meeting of the Cooperation Council with Entrepreneurs was held under the Board of Directors of the Central Bank. At the event held with the involvement of representatives of the relevant agencies including the Small and Medium Business Development Agency (KOBİA), discussions were held on boosting cooperation between entrepreneurs and the financial-banking sector, further improving business access to financial services, and suggestions were heard.

At the meeting, the Chairman of the Board of KOBİA, Orkhan Mammadov, delivered information on the access to financial resources of SMBs, the applications received by the Agency on this matter, and the results of the surveys. It was stressed that one of the challenges faced by SMBs in Azerbaijan is associated with access to financial sources. In spite of the range of support mechanisms in this field, they are not sufficient to meet the demand for financial resources of entrepreneurs. During the meetings with entrepreneurs and surveys, business entities pointed to high loan interest rates, non-acceptance of collateral by banks in the regions, high interest rates on cashing transactions, etc. The level of use of alternative financial instruments is unsatisfactory.