Government support mechanisms encourage young people to start entrepreneurial activities.
A significant portion of entrepreneurs and individuals seeking to start a business who have benefited from government support mechanisms provided by the Small and Medium Business Development Agency (SMBDA) are young people. In 2024 alone, 40% of those who benefited from the agency's training, consulting, and business plan development services aimed at enhancing business knowledge and skills were youth. Additionally, more than 30% of SMEs that received a "Startup" certificate, which exempts business entities from taxes, and 30% of entrepreneurs who benefited from grant support are young entrepreneurs and startups.
SMBDA closely collaborates with vocational and higher education institutions to encourage youth entrepreneurship and support their initiatives in this field. Within this cooperation, the agency's business experts meet with students from various vocational and higher education institutions to provide initial information on entrepreneurship and available support mechanisms, as well as to answer questions from young people. Additionally, training sessions are organized for students interested in business activities.
At the same time, various projects and programs are implemented with the joint organization of SMBDA and partner organizations to support young people's business initiatives. The "Youth Business Workshop," which provides initial support for young people to start a business, and the " From Us to Business" project, which contributes to the financing of business ideas, have benefited 60 young people.
The agency's "SME Volunteers" program is also beneficial for students and master's degree holders studying management, business, and management disciplines to acquire basic knowledge in entrepreneurship. To date, more than 700 young people have successfully completed the program. Among them, young people working in the private sector stand out in particular.
It should be noted that young people make up nearly 23% of the population of Azerbaijan.
