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SMBDA shall support organizational development models of female entrepreneurship 21.06.19

In Azerbaijan, women actively engage in entrepreneurial activity and play an important role in the development of entrepreneurship. Women account for about 20% of individual entrepreneurs registered in the country. Primary consideration is given to the following factors: improvement of women’s financial literacy in the regions, development of financial management skills and building women’s capacity in the area of business establishment and business development.

This was announced by Orkhan Mammadov, Chairman of the Governing Body of the Small and Medium Business Development Agency of the Republic of Azerbaijan, at the International Forum dedicated to the development of female entrepreneurship and held on 21 June in Baku.

Having stressed the priority objective of women’s entrepreneurship development for SMBDA, the head of the Agency reported on the implementation of important measures to ensure further increase of female share among small and medium entrepreneurs and establish appropriate support mechanisms to that end, as well as to promote the development of female entrepreneurship. It was emphasized that, through close interaction with entrepreneurs, special platforms of cooperation between the government and entrepreneurs were established to ensure the implementation of measures targeting the development of women’s entrepreneurship. In this context, the Public Council, established under the Agency and represented by entrepreneurial public associations, is broadly using its powers. Representatives of Azerbaijan’s Women Entrepreneurs Association also participate in the activity of the Public Council under the Agency.

The issue of women’s employment requires primary consideration during the preparation of projects and programs aimed at the development of female entrepreneurship, especially in rural regions. In such regions, the most promising areas of women’s employment must be duly identified with appropriate measures implemented. The Agency will also promote the organizational models of supporting the development of women’s entrepreneurship as well as the establishment of business incubators.