The German-Azerbaijani Chamber of Commerce (AHK Azerbaijan) conducted a survey of small and medium-sized businesses from Azerbaijan, Belarus, Georgia, and Ukraine.
Report informs, citing the results of the survey published in the SME Development Report that the poll involved 150 companies.
Despite the effects of the COVID-19 pandemic, the companies surveyed remain optimistic.
Up to 90% of tourism and 70% of agricultural companies said that the pandemic had a significant negative impact on their business and export activities. However, almost 98% of institutions plan to continue or even expand their operations.
Three-quarters of agricultural and two-thirds of tourism companies even want to enter new markets.
In this regard, access to finance, high market entry costs, and reliable business partners are the biggest challenges for the groups surveyed.