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Azerbaijan talks state-supported domestic SME market researches for 2020

Oil&Gas Materials 24 February 2021 18:02
Azerbaijan talks state-supported domestic SME market researches for 2020

BAKU, Azerbaijan, Feb. 24

Trend:

In 2020, with the support of the Azerbaijani Agency for the Development of Small and Medium-Sized Enterprises (SMEs), seven researches of the domestic market were conducted via requests from the SMEs, a source in the agency told Trend on Feb.24.

According to the source, in 2021, in addition to continuing state support for domestic market researches based on requests from the SMEs, the researches will also be carried out at the agency's initiative. Currently, appropriate measures are underway to conduct a study of the domestic market in the areas of food, agriculture, services, textiles and others.

The agency-initiated domestic market research, unlike the market research conducted on the basis of requests from the SMEs, is intended for use by all entrepreneurs, not individuals, and the results of the research will be posted on the agency's website for entrepreneurs to use (www.smb.gov.az).

In order to conduct a study of the domestic market, the SMEs should contact the agency directly by filling out the appropriate request form (http://bit.ly/3keYxo9), or by emailing to [email protected] Additional information can be obtained through the call center ‘131’ and by the phone number (012) 404 04 01.

The state support for micro, small and medium-sized enterprises for conducting research on the domestic market has been provided since 2019, and it’s provided by the Agency for Development of SMEs.

In accordance with the ‘Rules for the provision of state support for research of the domestic market in order to stimulate competitive production of micro, small and medium-sized enterprises approved by Azerbaijan’s president on May 29, 2019, 80 percent of the cost of each research of the domestic market conducted via a request from a micro-sized enterprise is funded by the state and 50 percent of the cost of research conducted through request of a small-sized enterprise.

In general, the amount of financial support for one study of the domestic market is up to 20,000 manat ($11,760).

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