KOBIA: Transparency, predictability more crucial for SMEs than financial aid

For many small and medium enterprises (SMEs), a transparent and predictable environment is more important than financial support, Rufat Atakishiyev, Deputy Chairman of the Board of the Small and Medium Business Development Agency (KOBIA) under the Ministry of Economy, said during the Business Assembly at the 13th Session of the World Urban Forum (WUF13) in Baku, Report informs.

Atakishiyev explained that when speaking with entrepreneurs, one recurring issue emerges:

"SMEs usually do not lack ideas, skills, or the will to work. The real challenge often lies in the processes themselves – lengthy procedures, complex and inconsistent approvals, and lack of coordination among institutions. Large companies, with bigger teams and resources, can usually overcome these delays. But for SMEs, time is far more sensitive. Any delay can increase costs, disrupt cash flow, and make it harder for them to join larger projects."

The official stressed that simplifying rules and making them faster and more predictable would be the most practical change: "If a business clearly knows the steps, timing, and requirements, it can plan independently, invest, and grow. That is why Azerbaijan has focused on digital services and one‑stop support systems. We see that when SMEs participate in infrastructure and construction projects, the benefits remain in the local economy - production increases, new jobs are created, services develop, and regions grow stronger."

He gave the example of reconstruction in liberated territories: "This is not only about restoring roads, buildings, and infrastructure. It is about creating modern living spaces, new business opportunities, and long‑term regional growth. For SMEs, this opens new opportunities in construction materials, logistics, tourism, agriculture, manufacturing, technology, and services."