SECO: There is a problem of financing small and medium-sized businesses in Azerbaijan

Baku. 24 November. REPORT.AZ/ Lending using movable property can increase the contribution of small and medium-sized businesses in GDP in Azerbaijan.

Report informs, SECO State Secretariat for Economic Affairs Simone Haeberli said.

"Contribution of small and medium business in GDP is 10% in Azerbaijan. In Switzerland the figure is 60%, the contribution to employment - 70%. In 2014, the contribution of small and medium-sized businesses in the GDP in Azerbaijan totaled 8 bln AZN in Switzerland this figure is more by 50 times.This is due to the convenient and profitable financing of this sphere ", said representative of SECO.

According to him, in Azerbaijan, representatives of small and medium businesses complain about the limited possibilities of access to financial sources:"According to a survey of the World Bank in the country 51% of small and medium-sized businesses have difficulty of access to capital.Creating a registry of movable property, the use of movable property as collateral when lending to enhance the ability of the output of small and medium businesses to financial resources ", said S. Haeberli.