Number of small and micro businesses set up in Azerbaijan over past four years reaches 49,000

Over the past four years, 49,000 small and micro businesses have been set up in Azerbaijan, Minister of Labor and Social Protection of Population Sahil Babayev said at a conference in Baku on the role of entrepreneurship in economic development, dedicated to the Day of Entrepreneurs, Report informs.

“This process was supported by the Small and Medium Business Development Agency. We implemented projects jointly with the Ministry of Agriculture, Food Safety Agency. At the same time, we involved eth World Bank and UNDP in this process. Today’s 49,000 small and micro businesses are one of the basic directions for economic development in the future,” the minister said.

According to him, at least 100,000 people enter the labour market in Azerbaijan every year.