SMEs key to building resilient cities, Rotos Consulting says

Small and medium-sized businesses play a key role in building sustainable and resilient cities, but to unlock their potential, states should not restrict entrepreneurial initiative, but create conditions for its development.

Report informs that Emil Majidov, Managing Partner at Rotos Consulting, said this during the panel discussion "Empowering SMEs as Key Actors in Building Sustainable, Inclusive and Resilient Cities" held as part of the 13th session of the World Urban Forum (WUF13) in Baku.

According to him, a partnership model of interaction between the state and business can ensure the emergence of new urban solutions, improve the quality of the urban environment and stimulate economic activity.

"Successful entrepreneurs, as a rule, understand their responsibility to society and are ready to invest in the development of urban communities. However, this requires proper infrastructure from the authorities. Businesses need clear rules of the game and room for maneuver, not excessive control. When the state acts as a supportive partner rather than a regulatory barrier, this unlocks enormous potential for urban innovation. Only through such a synergistic approach will we be able to build truly resilient cities," Majidov said.