European Union External Action

EU is helping businesses grow in Azerbaijan

26/10/2017 - 09:38
News

Strengthening businesses, developing digital economies and building relations between entrepreneurs from the European Union and its Eastern partner countries are at the heart of the discussions at the 4th Eastern Partnership (EaP) Business Forum in Estonia on 26-27 October 2017.

conference tallin, eastern partnership

The event brings together more than 450 business leaders, politicians and government officials from Armenia, Azerbaijan, Belarus, Georgia, the Republic of Moldova, Ukraine and the EU Member States. It is one of the key side events being held in preparation for the 5thEaP Summit that will take place in Brussels on 24 November 2017.

In Azerbaijan, the EU assists companies with (1) funding, (2) training, and (3) export support to new markets through the EU4Business initiative. Since 2009, 444 million AZN (€222 million) has been provided in total for 14,000 Azerbaijani companies.

What kind of EU support is available for Azerbaijani businesses?

1. More access to finance:

  • Micro credits for setting up or developing a small business

2. Stronger business skills:

  • Tailored advisory services and technical support to companies – HR, IT, management structures, business models, etc.
  • Training programmes to improve skills for entrepreneurs in key areas
  • Tailored training and mentoring for women entrepreneurs

3. Better access to new markets:

  • Business advice and training for export-oriented companies

 

Who has already benefited?

  • Home products company “Esse” received funding from the EU to introduce a new recruitment and sales system. As a result, the company increased sales by 18% and the number of customers grew by 25%. More.
  • Poultry breeding company “Nabran-Qusculuq” received a loan from the EU to expand the business. The company constructed three new workshops. As a result, its turnover increased by 10% and the number of employees by 25%. More.
  • Copper manufacturer “BMI” received a loan from the EU to purchase new equipment. As the result, the copper manufacturing doubled leading to a 30% increase in turnover. More.

Do you want to know more?

Find out what is available: www.eu4business.eu/az   

EU4Business phone line is now open in Azerbaijan: +994502351551

EU4Business programmes are implemented in Azerbaijan by the EBRD, EIB, KfW, the International trade Centre, EUROCHAMBRES, UEAPME, OECD, and the World Bank.

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