Sales of products from up to 140 SME entities have been supported
Sales of products manufactured by up to 140 small and medium-sized enterprises (SMEs) in Azerbaijan have been supported through major retail chains.
Startup.az reports that this is stated in the report released on the occasion of the 8th anniversary of the Small and Medium Business Development Agency (KOBIA) under the Ministry of Economy.
According to the report, 70 domestic market studies have been conducted for SME entities. Nearly 2,000 SMEs have been supported to participate in local and international exhibitions, enabling entrepreneurs to promote their products and expand sales and export opportunities.
Two SME cluster companies have been established in Quba and Sumgayit, and they have been granted “SME Cluster Certificates” providing tax and customs incentives.
In addition, a number of new support mechanisms for SMEs have been introduced over the past eight years. To date, around 240 SMEs have been issued “Startup Certificates” for innovative activities, granting them exemptions from profit and income taxes for a period of three years.
It should be noted that eight years have passed since KOBIA began its operations. Established by a Presidential Decree dated December 28, 2017, the Agency has become an institutional pillar in the development of the SME sector over the past eight years, serving as a key indicator of the consistent and systematic state support for entrepreneurship—particularly for SMEs—under the leadership of the President of Azerbaijan.