Azerbaijan sets new criteria for categories of entrepreneurship

  26 December 2018    Read: 1421
 Azerbaijan sets new criteria for categories of entrepreneurship

New criteria for micro, small, medium and large enterprises have been set in Azerbaijan, AzVision.az reports.

The corresponding document was approved by Azerbaijan’s Cabinet of Ministers.

Previously, the categories were divided into small, medium and large enterprises; the new criteria also adds the category of micro enterprises. This category includes companies with a staff of 1-10 people and an annual income of up to 200,000 manats.

The criteria for staff size and annual income for each category have also changed. Thus, if earlier a small enterprise category included a company with a staff of less than 25 people and an annual income of up to 125,000 manats, now these figures are 11-50 people and 200,000 - 3 million manats, respectively.

The category of medium-sized enterprises includes companies with a staff of 51-250 people (previously 25-125 people) and annual income of up to 30 million manats (120,000 - 1.25 million manats); the category of large enterprises includes companies with a staff of over 251 people (previously more 125 people) and an annual income of over 30 million manats (previously over 1.25 million manats).

(1.7 AZN = 1 USD on Dec. 26)


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