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EUR
GBP
RUB
USD
TRY
1.8505
2.199
0.0192
1.7
0.0514
EUR
1.8505
GBP
2.199
RUB
0.0192
USD
1.7
TRY
0.0514

SMBs are provided with state support on domestic market research

SMBs are provided with state support on domestic market research



In accordance with the relevant Decree of the President of the Republic of Azerbaijan, micro, small and medium businesses (SMBs) are provided with information and financial support to conduct domestic market research and stimulate the competitive production in the country.

In 2019, a positive decision was made on the eight applications submitted by SMBs to the Small and Medium Business Development Agency (SMBDA) related to domestic market research. The applications were sent to consulting companies following the relevant procedure under the Law "On Public Procurement" of the Republic of Azerbaijan. Domestic market research covers the production of disposable plastic and paper containers, aluminium foil lids, nuts and dried fruit bars, paper products, and thermal paper, technological equipment for security, as well as equipment for milk and dairy products, bread production, and transport services in the tourism sector.

It should be noted that 80% of the costs related to each domestic market research, which was conducted based on the application of the micro-business entity, and 50% of the costs incurred by each domestic market research conducted based on the application of a small business entity, are funded by the state. Medium business entities can benefit from free training events, seminars, and information support. SMBDA organizes support measures to conduct domestic market research. Entrepreneurs can find out more about this in a special section (http://smb.gov.az/nav/daxili-bazar-description) created on the official website of SMBDA.

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