BAKU, Azerbaijan, April 29. The number of business entities in Azerbaijan has significantly grown over the last 10 years, President of the National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan, Mammad Musayev, said at an event in Baku titled “Entrepreneurship Development Is a Strong Economy” today, Trend reports.
He said that over the past 10 years since the establishment of Entrepreneurs' Day, the business environment in the country has essentially entered a new milestone.
"If at the beginning of 2015, entrepreneurship was more in the stage of formation and institutional construction, by the end of 2025 we are already observing an expanded, digitalized, and more inclusive entrepreneurial model.
A comparison of figures shows that at the beginning of 2015, there were 677,000 business entities in Azerbaijan, while by the end of last year, it exceeded 1.68 million, rising by nearly 2.5 times over the past 10 years.
Looking at the structure of this growth, we can see a very important trend, as the number of legal entities has increased by 126% over 10 years, meaning that entrepreneurship in Azerbaijan has grown in terms of numbers, stabilized in terms of structure, and expanded in terms of society.
Another important change is digitalization. If in 2015, entrepreneurship operated more traditionally, today electronic registration, online services, and digital platforms have become an integral part of the business environment. This creates serious advantages for the entrepreneur in terms of both time and resources.
The fact that 76% of taxes paid to the state budget in the non-oil and gas sector fall to the private sector is an indication that entrepreneurship is the driving force of the national economy," he added.
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