SMB

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

The next meeting of the permanent Coordination Group operating under KOBİA was held The next professional trainings within the framework of the “Karabakh SMEs 2026” project have been completed The provision of consulting services for entrepreneurs continues Is it necessary to obtain a license for every type of business activity? Free business trainings for entrepreneurs will be held in September Issuance of investment promotion document for strategic investment projects continues Appeals from entrepreneurs of the Lankaran-Astara Economic Region were heard Another 10 SME entities will benefit from a tax exemption Domestic market research in 10 areas will be conducted on the initiative of KOBİA For the attention of entrepreneurs operating in Astara and Lankaran cities!

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.