Azerbaijan's SMEs have wide access to cashless solutions – SMBDA

Business Materials 8 December 2021 13:05 (UTC +04:00)
Azerbaijan's SMEs have wide access to cashless solutions – SMBDA

BAKU, Azerbaijan, Dec. 8

By Sadraddin Aghjayev - Trend:

Today, small and medium-sized businesses (SMEs) in Azerbaijan have wide access to non-cash solutions and financial technologies, the Chairman of the Board of the Small Business Development Agency of the Republic of Azerbaijan (SMBDA) Orkhan Mammadov said at the 5th International Banking Forum in Baku, Trend reports.

"In general, we see the growth of the digital economy in Azerbaijan, where business plays a big role. To create such an economy, it is important to create the necessary infrastructure," Mammadov said.

According to Mammadov, work is underway to promote non-cash trends and payments for SMEs and the future population in the liberated territories of Azerbaijan within the framework of the big return program, as well as doing business there in accordance with this program.

"I believe that the integration of technologies into SMEs will serve to digitalize the country and its economy. These works began on a large scale from the beginning of the year," he said.

Also, according to Mammadov, the agency issues startup certificates to the startup ecosystem, which exempts from income taxes and creates an incentive for the development of this sector, and also attracts additional investments in this sector.

"Our centers in the districts of Azerbaijan accept requests from microentrepreneurs, and we provide them with financial support in the amount of up to 20,000 manats ($11,770)," Mammadov added.


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