The Small and Medium Business (SMB) Development Agency of the Republic of Azerbaijan was established in accordance with the Decree of the President of the Republic of Azerbaijan dated December 28, 2017. The Agency Charter and structure were endorsed by the Decree of the President of Azerbaijan dated June 26, 2018.
The Agency’s mission is to increase the efficiency of small and medium enterprise system regulation, ensure a variety of support mechanisms and entrepreneurs’ smooth access thereto, achieve sustainable SMBs sector development and its increased contribution to the national economy. The Agency’s main target is to fulfill an important mission of an entrepreneur’s friend.
While ensuring proper regulation of SMBs activity, the Agency’s goal is to use a flexible supervision system, broadly implemented in this area as meeting modern requirements in compliance with international experience, and effective coordination mechanisms so as to increase the contribution and share of micro, small and medium-sized businesses in the national economy, boost their competitiveness, present them with broader opportunities to access financial resources, improve mechanisms to provide them with institutional support, coordinate the activities implemented by public and private entities in this area, establish favorable business environment to ensure development of entrepreneurship in the country’s regions and attract domestic and foreign investments to this area of activity.