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

SMBDA called on entrepreneurs 21.03.20

Address by Orkhan Mammadov, Chairman of the Board of the Small and Medium Business Development Agency of the Republic of Azerbaijan, to entrepreneurs:

Dear entrepreneurs!

Today, the whole world is fighting coronavirus (COVID-19) infection on a global scale. From the first day, Azerbaijan has been taking appropriate preventive and prophylactic measures to protect the health of its citizens, prevent the spread of infection, and minimize its impacts in cooperation with the World Health Organization.

The coronavirus, which has become a global pandemic, continues its negative impact on human health as well as the world economy. Azerbaijan is also a part of the world economy, and the processes happening on a global scale do not go unnoticed in our country.

Postponement of economic, cultural and sports events around the world, including in our country, the closure of borders, stagnation in tourism, trade, public catering, passenger and freight transportation sectors, as well as the application of a special working regime in various fields in our country, and the social isolation of the population, naturally weakens business activity and negatively impacts the development of different sectors of the economy, as well as SMBs in connection with the coronavirus.

As you know, the President of the Republic of Azerbaijan always pays attention and cares for every citizen of Azerbaijan, especially in the most challenging times, and supports the development of entrepreneurship and the private sector. The decree signed by the President on March 19 to reduce the negative impact of the coronavirus pandemic and, consequently, sharp fluctuations in world energy and stock markets on the country's economy, macroeconomic stability, employment and entrepreneurship and the allocated funds in the amount of one billion manats proves this once again. At the same time, the government is preparing a package of proposals to minimize the losses that entrepreneurs may face as a result of the current restrictive measures under the instructions of President Ilham Aliyev.

The Small and Medium Business Development Agency (SMBDA) of the Republic of Azerbaijan is also involved in the preparation of relevant proposals on the impacts of coronavirus infection on the tourism, public catering, trade, freight and logistics sectors, particularly small and medium businesses (SMBs) operating in these areas.

I would like to note that SMBDA held meetings with the participation of about 80 entrepreneurs, and conducted surveys among about 700 SMBs to determine the impact of coronavirus infection on small and medium businesses, to discuss ways out of difficulties, to study the expectations and proposals of entrepreneurs. Entrepreneurs participating in these meetings and surveys said they expected deferral of taxes and social security payments until a later time, support for emerging employment problems, deferral of credit obligations and rental costs, and other expectations.

SMBDA also held various meetings with suppliers, retailers, and logistics companies to meet the daily food and nutritional needs of citizens who prefer to stay home due to coronavirus infection, as well as to prevent the public catering and trade sectors from impacts of the current situation. Several businesses have already submitted their proposals to the Agency related to delivery services. SMBDA will support these initiatives within its mandate.

It is gratifying that many banks responded positively to SMBDA's call for support to reduce the potential impact of coronavirus infection on SMBs within the business partnership platform. Various banks already offer discounts to SMBs for banking operations and foreign money transfers.

At such time, the country's entrepreneurs need to unite their efforts and initiatives, to support each other and understand their social responsibility. We call on entrepreneurs to better understand the responsibility of restrictive decisions applied in various sectors to protect the health of the country's citizens and to stand in solidarity with the state for the development of the economy, especially entrepreneurship. The business sector will overcome the current situation faster by strictly following the rules and, most importantly, in solidarity with the state; and under the support of our state with fewer losses.

I would like to mention another point. The Coronavirus Support Fund was established under the Decree of the President dated March 19. Along with the state budget, there are also voluntary contributions by individuals and legal entities among the sources that supported the fund. We use this opportunity as a sign of solidarity with our state and call on entrepreneurs to support the Coronavirus Support Fund based on the principles of voluntariness and social responsibility.

Let's be united, let's support each other!