SMB

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Webinar organized to improve financial literacy of SMBs 06.10.20

On October 6, with the organizational support of the Central Bank of Azerbaijan and the Small and Medium Business Development Agency of the Republic of Azerbaijan (SMBDA), a webinar on "Improving financial literacy of SMBs" and "The role of State Register of Encumbrances on Movable Property (SREMP) in entrepreneurial activity" was held.

At the online event organized with the participation of entrepreneurs, information was given about the essence of SREMP, movable properties as a guarantee, the possibility of obtaining a loan by placing collateral on movable property, application procedure, advantages of information resources, and the questions of entrepreneurs were answered. At the same time, it was brought to the attention of SMBs that changes were made to the existing legal and regulatory framework to reduce the service fee to promote the active use of SREMP. The webinar also provided information on the support and services provided by SMBDA at all stages of the establishment and development of small and medium-sized enterprises.

It was also noted that the improvement of access to financial resources of SMEs is one of the areas of activity of the organization, entrepreneurs in this field are coordinated with relevant agencies for access to soft loans and other financial resources, SMB development centers, which are a structural unit of SMBDA, provide training and consulting services to improve the financial literacy of entrepreneurs. It was noted that in the SMB development centers operating in Baku, Sumgait, and Khachmaz, along with other directions, entrepreneurs are provided with training and consulting services on Financial Resources Management, Accounting, access to and use of the state's financial resources, and awareness-raising is carried out among entrepreneurs.