BAKU, Azerbaijan, April 29. The number of
business entities in Azerbaijan has significantly grown over the
last 10 years, President of the National Confederation of
Entrepreneurs (Employers) Organizations of Azerbaijan, Mammad
Musayev, said at an event in Baku titled “Entrepreneurship
Development Is a Strong Economy” today, Trend reports.
He said that over the past 10 years since the establishment of
Entrepreneurs' Day, the business environment in the country has
essentially entered a new milestone.
"If at the beginning of 2015, entrepreneurship was more in the
stage of formation and institutional construction, by the end of
2025 we are already observing an expanded, digitalized, and more
inclusive entrepreneurial model.
A comparison of figures shows that at the beginning of 2015,
there were 677,000 business entities in Azerbaijan, while by the
end of last year, it exceeded 1.68 million, rising by nearly 2.5
times over the past 10 years.
Looking at the structure of this growth, we can see a very
important trend, as the number of legal entities has increased by
126% over 10 years, meaning that entrepreneurship in Azerbaijan has
grown in terms of numbers, stabilized in terms of structure, and
expanded in terms of society.
Another important change is digitalization. If in 2015,
entrepreneurship operated more traditionally, today electronic
registration, online services, and digital platforms have become an
integral part of the business environment. This creates serious
advantages for the entrepreneur in terms of both time and
resources.
The fact that 76% of taxes paid to the state budget in the
non-oil and gas sector fall to the private sector is an indication
that entrepreneurship is the driving force of the national
economy," he added.
Stay up-to-date with more news on Trend News
Agency's WhatsApp channel
