COVID-19 had a considerable negative impact on the economy of Azerbaijan, with SMEs being one of the major victims from the economic perspective. Economic sectors were affected to a different extent by the pandemic and lockdown measures. As a result of lockdown measures, many SMEs closed their operations with their employers not being paid or left without pay. Although the government provided essential support to small and medium-sized businesses, the share of closed businesses was high. Over two years since the beginning of the pandemic, a measures toward the improvement of the business environment was done. The share of operating and newly created SMEs increased along with legislative incentives adopted for their development.
Center for Economic and Social Development
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