BAKU, Azerbaijan, Dec. 30
By Eldar Janashvili - Trend:
The business indicators of Azerbaijan’s ABAD Simplified Support to Family Businesses public legal entity under ASAN State Agency for Public Service and Social Innovations under the President of Azerbaijan reflect the positive vector of development of the state program for supporting family business, a source in ABAD told Trend on December 29.
The number of ABAD participants increased by one third and Abadchi families (participants of ABAD) amounted to 420. Thus, in 2019, over 100 new participants joined the company.
At the same time, despite the increase in the average number of daily applications, the proportion of people accepted into the project decreased, the source said.
Following the motto From Idea to Shelf, the organization always tries to bring the production of goods to such a level that, having entered the market; it can adequately compete with similar brands. However, not every idea or product is ready to be competitive, ABAD said.
In 2019, the entity's trade increased by over 70 percent, amounting to 1.7 million manat ($1 million), the assortment of food products entering the market under the ABAD brand was expanded many times, and the average income for each participant increased, exceeding the minimum wage.
The main purpose of the project is to promote the active participation of citizens in the socio-economic development of the country, the development of small and medium-sized businesses and the employment rate of the population, ABAD promotes the formation of competitive households and directly participates in the implementation of socially-oriented projects.
Since 2016, ABAD has supported the formation of competitive family holdings, is directly involved in the implementation of social projects.
(1 USD = 1.7 AZN on Dec. 30)
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