SMB

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

Today International Day of Micro, Small and Medium-sized Enterprises is marked An exhibition showcasing products and services from over 150 domestic companies is currently underway. The product of artificial intelligence for intelligent search has been developed in Azerbaijan. The "Investment Journey" event took place this time in the city of Sheki Meeting with Students of Baku Business University The "Advertising Exhibition of Local Companies" launches Importance of applying Environmental, Social, and Corporate governance principles for business Exhibition-sale fairs will be held in the regions of the country A document was signed between KOBİA and the Belarusian Chamber of Commerce and Industry The number of entities awarded with the "Startup" certificate has reached 151

Entrepreneurs were informed about the new opportunities of electronic state registration 29.12.21

On December 28, the State Tax Service under the Ministry of Economy and the Small and Medium Business Development Agency (SMBDA) jointly organized an online seminar on "Advantages of reforms in the field of electronic state registration of commercial legal entities" for individuals who want to start their own business, startups, micro and small businesses.

At the event, Lala Ahmadova, an employee of Main Department of State Registration of the State Tax Service, gave detailed information about the reforms in the field of electronic state registration of limited liability companies with local investment and new opportunities for electronic registration, and demonstrated the rules of using this system. It was noted that the reforms in the field of electronic state registration of legal entities are aimed at simplifying business start-up procedures, saving time, ensuring transparency, minimizing contact between public official and entrepreneur and increasing citizen satisfaction. During electronic registration, registration documents are sent online to the taxpayer's e-office and do not need to be obtained on paper. Also, the integration of registration documents sent to the e-cabinet into the relevant information systems of all government agencies, banks, notaries and other organizations was ensured.

It was reported at the event that the interest in electronic state registration of commercial legal entities is growing among newly registered businesses. In January-November, 10,769 commercial organizations were registered, which is 28.5 percent more than in the corresponding period of 2020. Of the registered commercial organizations, 90.7% are enterprises with local investment and 9.3% are foreign-invested enterprises. 82.8% of them were registered electronically. The share of e-registration of limited liability companies with local investment was 92.7%.

In January-November, 1,723 limited liability companies with local investment were registered using the new registration method (PIN code + mobile number), which is 86.5 percent more than in the corresponding period of 2020. The share of this method in the total registration increased to 16 percent, and in the registration of limited liability companies with local investment reached 17.9 percent.

A video on the electronic state registration of commercial entities with local investment was shown at the online seminar, and participants' questions were answered.

It should be noted that SMBDA and the State Tax Service regularly organize awareness-raising events, including trainings and seminars for micro and small businesses, startups and those who want to start their own business.