SMB

We believe Azerbaijan’s socio-economic development is closely linked with entrepreneurship and its future development!

The role of SMBs in the Transition to the Green Economy Within the framework of COP29, a panel discussion was held on the topic “The Role of SMBs in the Green Economy” KOBİA and the "Invest Bulgaria" Agency to collaborate Within the framework of COP29, the documents for collaboration were signed to support the green transition of SMBs Representatives of the International Trade Centre (ITC) paid the visit to "Baku SMB House" A conference was held regarding the presentation of unified platform and the national standard for ESG A national standard on Environmental, Social, and Corporate Governance (ESG) has been adopted "KOB FEST" exhibition-sale fair held in Khachmaz A business plan – the key to successful and sustainable business "From Us to Business" startup competition is underway

Which legal entities and natural persons are eligible to participate in the internal market research? 06.12.23

Internal market research can be conducted by universities, training colleges, specific research and analysis centres, consulting firms, as well as other legal entities and natural persons specialized in this field.

Entrepreneurs interested in starting a new business, manufacturing new products and services should first conduct market research. Internal market research is the finest tool for this purpose, as it provides entrepreneurs with the required information in the relevant area while also insuring them against potential risks.

The Small and Medium Business Development Agency (KOBİA) performs internal market research studies at its own initiative on a regular basis, taking into account the requests of entrepreneurs and their needs. There have been 51 internal market research studies conducted so far.

Internal market research is conducted through a tender in compliance with the Law of the Republic of Azerbaijan "On State Procurement". Specialized domestic and foreign legal entities and natural persons (individual entrepreneurs) are eligible to take part in the tender. Universities, training colleges, institutes, specific research and analysis centres, consulting firms, as well as other legal entities and natural persons specializing in this field are included herein.

Internal market research conducted prior to starting a new business, product or service production informs the entrepreneur about the advancement of the sector, production and export opportunities, required workforce, sales, competitors, documentation, consumer opinions, price, government support measures and so on. Appropriate knowledge enables the entrepreneur to identify potential risks and take preventive measures. Entrepreneurs are assisted by the state up to 20,000 manats for performing internal market research in order to foster the competitive production of SMBs, boost output in the private sector, and establish new enterprises and facilities that generate competitive products.

The state covers 80% of the cost of each internal market research conducted at the request of a micro business entity, and 50% of the cost of the research undertaken at the request of a small business entity.

KOBİA provides state support for the internal market research mechanism. Entrepreneurs seeking to develop new products and services and expand their businesses are encouraged to directly or electronically apply to the Agency by filling out the relevant application form on the KOBİA website for internal market research.