SMB

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

The results of the startup competition "From us to business" have been announced Rwandan delegation got acquainted with activities of the "Baku SMB House" "Investment journey" event took place in Masalli The most active entrepreneurs of 2024 have been awarded A citizen reception was held at KOBİA Results of the 6th grant competition announced for financing projects by SMB entities have been disclosed A memorandum on the green transition of SMBs signed between KOBİA and the Asian Development Bank Business forum conducted within the framework of the project "Increasing attractiveness of the Shamakhi district for private Investments" New Startups Contributing to Digitalization The 9th "KOB Fest" exhibition -sales fair is underway in Göyçay

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.