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1.8479
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EUR
1.8479
GBP
2.195
RUB
0.0194
USD
1.7
TRY
0.0515

Domestic market research mechanism stimulates local production

Domestic market research mechanism stimulates local production



Business entities, who have taken advantage of the domestic market research mechanism, started manufacturing equipment used in the field of smart homes and building automation in Baku and thermal and self-adhesive sticker paper in Mingachevir. New production sites are important in terms of meeting the demand for appropriate products in our country through local production and reducing dependence on imports in this area.

 

Founder of “ALLSMART TECHNOLOGIES” LLC Elshad Huseynov: "We addressed the Small and Medium Business Development Agency (SMBDA) to perform domestic market research in the fields of manufacturing crossing gates, intercoms, cameras, elevator control systems, louver shutters, garage gates, and security systems in the field of smart home and building automation. The state paid 80 % of the cost of marketing research. Based on the domestic market research, we have released two new products used for the automation of smart homes and buildings. Currently, these products are used in Baku and the regions. Domestic market research helped us to study the current situation in the appropriate area and the demand for this equipment."

 

Head of “VIOLET” LLC Rami Mammadov: “Taking advantage of the domestic market research mechanism, we started manufacturing thermal and self-adhesive labels. Thereby, we reduced our dependence on imports of these products by 40 %. Currently, Heydar Aliyev International Airport, “MilliOn”, “Azerigaz”, “Expressbank”, “Rahat” supermarket chain, etc., are among our clients.

 

Note that since 2019, the Agency has been providing micro, small, and medium businesses with information and financial support in domestic market research. According to the "Rules for the provision of state support for domestic market research to stimulate competitive production of micro, small, and medium businesses," approved by the President of Azerbaijan on May 29, 2019, the state finances 80 and 50 % of the cost of each domestic market research performed based on requests of micro-and small business entities, respectively. Within this support mechanism, medium enterprises can take advantage of free pieces of training, seminars, and informational support. In general, the amount of support for SMBs for single domestic market research is up to AZN 20,000. To date, 12 domestic market studies have been performed based on the entrepreneurs’ requests, and 9 ones at the SMBDA’s initiative.

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