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

SMB development centers organized Training and Consulting services for about 1200 entrepreneurs 14.01.21

To improve the knowledge and skills of Micro, Small and Medium Businesses (SMBs) and to expand access to innovations, 4 SMB development centers were launched in Baku, Sumgait, Khachmaz, and Yevlakh in 2020.

Last year, about 100 training sessions were conducted by these centers on various topics, about 2500 hours of consulting services were provided, about 1200 SMBs, startups, and beginners benefited from these services. It should be noted that SMB development centers, which are part of the Small and Medium Business Development Agency (SMBDA), organize training to increase the business process-oriented knowledge and skills of those wishing to start SMBs, startups, and businesses free of charge, as well as provide consulting services, support for participation in internship programs, direct business ideas to financial resources.

Furthermore, SMB development centers provided free support to entrepreneurs in the development of nearly 150 business plans in 2020.

With the support of SMB development centers, 10 new SMBs were established last year, 4 of which are physical entities and 6 are limited liability companies (LLC). Newly established business enterprises operate in the agricultural and service sectors of the Guba-Khachmaz economic region and Sumgait city. SMB development centers continue to support these SMBs. In addition, female entrepreneurs benefiting from the training and advisory services rendered by SMB development centers were supported to get grants as part of the international project, more than 50 citizens who used the services of the centers were provided with relevant assets in coordination with the self-employment program.

To study international experience and develop business relations in 2020, 29 entrepreneurs and managers benefited from the German-Azerbaijani Joint Program to improve skills of managers in Azerbaijan's Business Community. As part of the Program, which is coordinated by SMBDA and German Agency for International Cooperation (GIZ), in 2021, measures will be continued to enable Azerbaijani entrepreneurs and managers to study international experience and develop business relations.

In the coming months, an online training platform will also be put into use to increase the training and education opportunities of SMBs and to study advanced experience in Business. Training videos, teaching materials, and self-assessment tests will be provided on this platform based on the needs of SMBs.