SMB

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Startup certificate issued to 5 more entrepreneurs 27.10.23

The number of SMBs that awarded the Startup certificate, which offers for tax benefits for innovative activities, has reached 110.

The Small and Medium Business Development Agency (KOBİA) awarded the Startup certificate to 5 more SMBs. Hence, the number of SMBs that have received the "Startup" certificate has reached 110.

Startup certificates were issued to following projects: online platform of "Kipias" LLC, simplifying repair and design work, natural person Ramin Akbarov`s digital business network platform, "Baku Carsharing Company" LLC`s car rental software, "Pargour" LLC`s parking software, online services projects for specialists by "Yeni Zeon" LLC.

The Startup certificate exempts SMBs from profit and income tax on their income from innovation activities for a period of 3 years from the date of issuance of the certificate. Micro and small business entities whose projects are still developed are encouraged to apply to KOBİA to obtain a "Startup" certificate. For application form, other required documents, as well as detailed information about the relevant criteria, please visit the website of KOBİA www.smb.gov.az.

It is significant to note that in January-September 2023, KOBİA received 77 applications from micro and small entrepreneurs for the issuance of the Startup certificate. According to the "Startup Determination Criteria" approved by the Cabinet of Ministers' Decision dated January 29, 2021, 24 SMBs, 23 of which are micro and 1 are small entrepreneurs, were awarded certificates with the opinion of the Expert Council. Projects that have received the Startup certificate include mobile applications and online services that include innovative solutions in fintech, education, healthcare, tourism, business digitalization, and e-commerce