Amount of funds for initial stage of business disclosed in Azerbaijan

Business Materials 11 April 2019 19:49 (UTC +04:00)

Baku, Azerbaijan, April 11

By Matanat Nasibova – Trend:

Next week, the Azerbaijani National Confederation of the Entrepreneurs (Employers’) Organizations will start to select business plans submitted by entrepreneurs as part of the Start Your Business project, which is implemented through the confederation, vice-president of the confederation Vugar Zeynalov told Trend.

"We will have to select about 40-50 among 250 business plans,” he said. “Afterwards, entrepreneurs who have passed the qualifying round will receive the funds to start a business. Over 250 entrepreneurs have been educated and informed about running an independent business."

Zeynalov stressed that during the project, entrepreneurs who gained the access to the initial stage of the business will receive $200,000.

He added that the project is being implemented with USAID’s support and assistance.

The Azerbaijani National Confederation of the Entrepreneurs (Employers’) Organizations was established on March 5, 1999 in Baku and passed the official state registration.

The confederation unites over 1,000 business entities in its ranks, including 35 associations and social-economic unions.