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ECONOMY

MSME Day: Driving Global Economy

International MSME Day – The role of micro, small and medium enterprises in Azerbaijan and the world, and support mechanisms.

Aria Wright
ByAria Wright- Senior Editor
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MSME Day: Driving Global Economy
Photo: Prepared by Bond.az

June 27 is the International Micro, Small and Medium Enterprises Day. In Azerbaijan, 99.7% of businesses are MSMEs. Globally, 9 out of 10 enterprises are MSMEs.

The UN established this day in 2017 to highlight MSMEs' role in economic growth, employment, and innovation.

MSMEs provide over 70% of global employment. They are the most dynamic segment of the economy.

In Azerbaijan, KOBİA provided extensive support between 2018-2025. 5 MSME houses and 56 MSME friend offices operate. Grants totaling 2.2 million manat were allocated to 129 projects.

Developing MSMEs is crucial for economic diversification and sustainable growth.

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MSME Day: Driving Global Economy | Bond.az