KOBIA: Franchising is a new way of thinking for SMEs

Franchising is not only a business tool for small and medium-sized enterprises (SMEs) but also a new way of thinking, Orkhan Mammadov, Chairman of the Small and Medium Business Development Agency (KOBIA) under the Azerbaijani Ministry of Economy, said at the Eurasian Franchising Forum held in Baku, Report informs.

According to him, franchising encourages entrepreneurs to operate in a more systematic, planned, and internationally oriented manner.

"The wider application of this mechanism will create opportunities for both the establishment of new jobs and the expansion of local brands into international markets. As KOBIA, we consider the development of franchising one of our priority directions," Mammadov said.