Azerbaijan’s Agency for Development of SMEs prepares new business support mechanisms

By  Trend

The Agency for the Development of Small and Medium-sized Enterprises (SMEs) of Azerbaijan has prepared proposals for the implementation of new business support mechanisms, Elchin Ibrahimov, deputy chairman of the board of the agency, said at a conference “Support for start-up projects and expanding access to financial resources”, Trend reports Feb. 28.

Ibrahimov said that the proposals have been submitted for the government’s consideration.

“The proposals include four directions,” Ibrahimov noted. “The first concerns the approval of the status of SME clusters, the second concerns supporting small businesses in terms of providing access to trading networks, the third concerns developing human resources and the fourth mechanism provides for researching in the domestic market.”

He also announced the agency’s plans for the expansion of the SME Houses and the creation of the "Friends of SME" mechanism.

The Friend of SME is one of the important mechanisms created in order to support SMEs and to communicate directly with business entities in the Azerbaijani districts, he noted.

Presently, the Friends of SMEs are operating in Masalli, Khachmaz, Siyazan, Shabran, Ganja, Yevlakh, Guba and Gusar districts, he said. Their work in Baku is also ensured, he added.

“In the near future, the Houses of SMEs will also be opened, and the number of Friends of SMEs will be increased to 60,” he said. “About 30 percent of our staff will be involved in this direction, and this staff will be engaged in solving the problems of entrepreneurs on the ground.”