Baku, Azerbaijan, Sept. 5
By Anvar Mammadov – Trend:
The Azerbaijan Micro-Finance Association (AMFA) will launch a new project to support micro-business in the country by the end of the month, AMFA Executive Director Jhale Hajiyeva told Trend Sept. 5.
She noted that the project will be implemented with the support of the European Union and will be aimed at the development of sustainable micro-entrepreneurship in the country.
"The project will last 2.5 years and will be implemented in four economic zones of Azerbaijan - Aran, Ganja-Gazakh, Shaki-Zagatala and Guba-Gusar. Our main goal will be to support micro-business, in particular start-ups, in rural areas. In general, the project will cover about 500 people. They will be trained in financial literacy and business planning. The owners of the most successful business plans will receive funds from us to establish their own businesses, to purchase equipment and so on," Hajiyeva said.
Hajiyeva noted that yet another objective of the project will be to improve cooperation between entrepreneurs.
"Today, the lack of contacts between entrepreneurs is very problematic. Therefore, we hope that our project will allow them to improve mutual cooperation," Hajiyeva said.
She believes that today representatives of micro-businesses in Azerbaijan need such support.
"Most small entrepreneurs are inexperienced. We encourage them to improve their financial literacy, to learn how to make competent business plans, to use the available financial resources rationally. Only after that we recommend them to apply for micro-credits. A person without a credit history, who does not have any experience in doing business should not apply for funding," she said.