The Azerbaijani Agency for the Development of Small and Medium-Sized Enterprises (SMEs) initiated conducting of researches of the domestic market in various sectors, a source in the agency told Trend on Apr.28.
According to the source, the researches aimed to support the creation of new products and services by micro, small, and medium-sized businesses and to encourage competitive production in Azerbaijan.
The domestic market researches covered such areas as the production of paints, optical glasses, uniforms, and corporate clothing, mobile refrigerated warehouses, containers for household waste, creation of a textile factory, advertising, and others.
Entrepreneurs wishing to start or expand their business in these areas can familiarize themselves with relevant studies of the internal market on the agency’s website at https://smb.gov.az/az/nav/daxili-bazar-arasdirmasi.
Unlike the research carried out on the basis of the entrepreneur’s application, the results of the market research initiated by the agency are provided to SMEs free of charge.
In 2021, at the initiative of the agency, it’s planned to conduct research on the domestic market in other areas.
The state support for SMEs for conducting domestic market researches has been provided by the agency since 2019.
In accordance with the ‘Rules for the provision of state support for domestic market researches to encourage competitive production of micro, small and medium-sized enterprises’ approved by Azerbaijan’s president on May 29, 2019, the state finances 80 percent of the cost of each internal market research conducted on the basis of an application from a micro-business entity.
Besides, 50 percent of the cost of research conducted at the request of a small business entity. In general, the amount of financial support for one research of the domestic market is up to 20,000 manat ($11,760).
To conduct the domestic market research, SMEs can contact the agency directly by filling out the appropriate application form, via email@example.com, ‘131’ call center, or (+99412) 404 04 01.
Source: TREND News Agency