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2024 | OriginalPaper | Chapter

4. The Trend and Sustainability of SMEs: The Case of Azerbaijan

Author : Huseyn Mammadov

Published in: Place Based Approaches to Sustainability Volume II

Publisher: Springer Nature Switzerland

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Abstract

This research outlines information about the latest trends according to the Small and Medium Enterprises (SMEs) in Azerbaijan. It mainly identifies current opportunities and obstacles for SMEs in the aforementioned country and it also explains the government’s special program concerning the effectiveness of SMEs which clarifies some of the questions like financing, access to funds, and its process (application process, the main criteria, long-term perspectives, collaboration aspects, etc.).
In addition, it also provides possible solutions regarding the improvement and coheres with the global process where SMEs have a significant effect on economic integration. Concerning this procedure, it also has a direct impact on employment, income per capita, and other economic indicators where an expansion of the scope of these businesses enhances this process where it directly affects and boosts these indexes.
According to the result of this study, SMEs haven’t yet evolved effectively in Azerbaijan, some efforts are constantly affected to remedy these actions which were mostly connected to the streamlining of business license requirements and the enhancement of taxation but relies on statistical data. I may conclude that these measures are still insufficient, and it is essential to implement further incentive approaches by calling on international experiences. According to this reason, the institution for the development of SMEs must have a particular impact on this growth path. Additionally, the created roadmap has a crucial influence on the development process of SMEs.

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previous chapter Frugality in Consumption: The Way Out of the New Age Problems of the Contemporary World with Special Reference to India
next chapter The Integration of Sustainability in the Banking Sector
Footnotes
1
Global Firepower report, 2022.
 
2
Ibrahim Niftiyev, The De-industrialization Process in Azerbaijan: Dutch Disease Syndrome Revisited, p. 11, 2020.
 
5
The State Statistical Committee of the Republic of Azerbaijan, https://​www.​stat.​gov.​az/​news/​macroeconomy.​php?​page=​1&​lang=​en
 
6
Central Bank of the Republic of Azerbaijan statistical bulletin, 2021, https://​uploads.​cbar.​az/​assets/​cfef22badd6b60be​6e566e9d4.​pdf
 
7
The Institute for Scientific Research on Economic Reforms, Special edition, 2021, http://​www.​ier.​az/​uploads/​xususi_​buraxilish_​covid_​19.​pdf.
 
8
OECD (2017), Entrepreneurship at a Glance 2017, OECD Publishing, Paris.
 
9
EU (2018), Annual report on European SMEs 2017/2018: Publications Office of the EU.
 
10
Website of the Presidential Administration of the Republic of Azerbaijan: Speech by the President of Azerbaijan at the meeting of the Cabinet of Ministers dedicated to results of socio-economic development of 2016 and objectives for the future.
 
11
Center for Analyses of Economic Reforms and Communication, Azerbaijan Economic Reforms Review, April 2017.
 
12
Trend News Agency, “Coordination Group Established under Azerbaijan’s Agency for development of SMEs”.
 
13
National Confederation of Entrepreneurs Organizations of the Republic of Azerbaijan (ASK), 2019: 25 April—the Day of Entrepreneurs.
 
14
Order of the President of the Republic of Azerbaijan dated May 29, 2019: Assessment of domestic market.
 
15
The Small and Medium Business (SMB) Development Agency of the Republic of Azerbaijan: SME Houses.
 
16
Hasanov, R., Breban, D., Jafarov, J., & Suleymanova, L. (2019). The Business environment: economic reforms in the context of institutional shortcomings.
 
17
CESD: The Business Environment: Economic Reforms in the Context of Institutional Shortcomings.
 
19
Official website of the Fund—http://​ictfund.​gov.​az.
 
21
Website of the Ministry of Economy of the Republic of Azerbaijan: The report on reforms and work done in the field of entrepreneurship development in 2018.
 
22
Monitoring.az: The report on the implementation of SME roadmap in 2017.
 
23
OECD (2019), Azerbaijan: Driving Diversification through Strengthened Entrepreneurship, OECD Publishing, Paris.
 
27
TOWS Analysis is an extension of the SWOT Analysis framework that identifies your Strengths, Weaknesses, Opportunities, and Threats but then goes further in looking to match up the Strengths with Opportunities and the Threats with Weaknesses.
 
28
CESD, Comparative Study on Development of SMEs in Azerbaijan, 2017.
 
Literature
Center for Analyses of Economic Reforms and Communication. (2017). Azerbaijan Economic Reforms Review, April
CESD: The Business Environment: Economic Reforms in the Context of Institutional Shortcomings.
EU. (2018). Annual Report on European SMEs 2017/2018: Publications Office of the EU.
Hasanov, R., Breban, D., Jafarov, J., & Suleymanova, L. (2019). The Business Environment: Economic Reforms in the Context of Institutional Shortcomings. Available at SSRN 3485593.
Monitoring.az. (2017). The Report on the Implementation of SME Roadmap in 2017.
National Confederation of Entrepreneurs Organizations of the Republic of Azerbaijan (ASK). (2019). The Day of Entrepreneurs, April 25.
OECD. (2019). Azerbaijan: Driving Diversification through Strengthened Entrepreneurship. OECD Publishing.
Order of the President of the Republic of Azerbaijan. 2019. Assessment of Domestic Market, May 29.
The Small and Medium Business (SMB) Development Agency of the Republic of Azerbaijan: SME Houses.
Trend News Agency. Coordination Group Established under Azerbaijan’s Agency for development of SMEs.
Website of the Ministry of Economy of the Republic of Azerbaijan: The Report on Reforms and Work Done in the Field of Entrepreneurship Development in 2018.
Website of the Presidential Administration of the Republic of Azerbaijan: Speech by the President of Azerbaijan at the Meeting of the Cabinet of Ministers Dedicated to Results of Socio-economic Development of 2016 and Objectives for the Future.
Metadata
Title
The Trend and Sustainability of SMEs: The Case of Azerbaijan
Author
Huseyn Mammadov
Copyright Year
2024
Book
Place Based Approaches to Sustainability Volume II

Print ISBN: 978-3-031-41609-5

Electronic ISBN: 978-3-031-41610-1

Copyright Year: 2024

DOI
https://doi.org/10.1007/978-3-031-41610-1_4