Number of women-founded SMEs rises in Azerbaijan

The number of SMEs in Azerbaijan founded by women has increased, Orkhan Mammadov, Chairman of the Small and Medium Business Development Agency (KOBIA), said at the Women's Entrepreneurship Summit 2025 in Baku, organized by the Azerbaijan HR Institute and the Women's Entrepreneurship Development Association, Report informs.

Mammadov stressed that harnessing the country's economic potential requires the development of women's entrepreneurship. He highlighted the importance of creating a favorable environment for women to start and expand businesses and removing barriers they face. International studies show that, despite initially receiving less funding, women-led startups grow faster and generate 10% more revenue over five years. They are also more efficient in turning investments into returns, earning 78 cents per dollar invested.

As of January 1, 2025, women make up 48% of Azerbaijan's employed population, and 23.3% of active individual entrepreneurs are women.

In the SME sector, nearly 2,800 women-founded legal entities were registered in 2024, bringing the total number of women-founded SMEs to over 13,000-a 9% increase compared to 2023. Mammadov emphasized that KOBIA pays special attention to supporting women's entrepreneurship.