According to the Decree of President Ilham Aliyev dated April 21, 2016, April 25 is celebrated as Entrepreneurs Day in Azerbaijan. The establishment of Entrepreneurs' Day is a striking example of the attention and care shown by the head of state to the development of entrepreneurship, especially in the non-oil sector, as well as the high importance attached to the activities of entrepreneurs in the socio-economic sphere, in the economic development of the country and provision of employment.

Entrepreneurship in Azerbaijan has a long history and received great development in the late 19th and early 20th centuries. The diverse natural resources of our country have created invaluable conditions both for the arrival of foreign businessmen in the country and for the development of local entrepreneurship. Back in the 19th century, oil entrepreneurs (millionaires) with a great reputation in the world grew up in Azerbaijan. They played an important role in the economic development of Azerbaijan, especially in the development of the oil production and processing industries. These were very influential people, they built buildings, schools, theaters, hospitals and provided work to a large number of the population. In this regard, real examples of entrepreneurs are Haji Zeynalabdin Tagiyev, Musa Nagiyev, Murtuza Mukhtarov, Shamsi Asadullaev, Seid Mirbabaev and others.

After the Soviet occupation, entrepreneurship was stopped in Azerbaijan and business activities were officially banned for 70 years. Only after the restoration of our state independence did a new political and economic situation arise in the country - it was no longer possible to govern the country using the previous party-administrative methods; we had to choose the path of democratic governance and a market economy. To establish a market economy, it was absolutely necessary to create a class of entrepreneurs. For this reason, National Leader Heydar Aliyev, who returned to political power in 1993, decided to carry out radical reforms associated with the transition to a market economy. To this end, important steps have been taken to formulate a legislative framework, remove bureaucratic obstacles, provide financial support, etc.

The documents adopted in the field of creating a legislative framework for regulating business activities provide for provisions related to the creation of conditions for economic development based on market relations, provision of legal guarantees for entrepreneurship and the formation of competition, and also reflect the mechanism and protection of competition. These documents served to ensure free competition and dynamic economic development, covering all spheres of the economy.
The adoption of two state programs covering 1993-1995 and 1997-2000 played a special role in the development of entrepreneurship, and the development of small and medium-sized businesses has become one of the priority areas of the economic policy of the Azerbaijani state. As part of these programs, important measures were taken in the field of regulation of the economy and entrepreneurship, and a system of state financial assistance to entrepreneurs was organized.

In 1993-2003, documents adopted in the field of creating a legislative framework for regulating business activities in our country contained provisions related to the creation of favorable conditions for economic development based on market relations, the provision of legal guarantees to entrepreneurship, the formation of a competitive mechanism and the protection of competition. Legislative acts related to this area have also been improved.

The Great Leader Heydar Aliyev, who paid special attention and care to the development of entrepreneurship in Azerbaijan, regularly held meetings with businessmen, took an interest in their problems and took the necessary steps to solve these problems. An example of such meetings is the meeting held on April 25, 2002 with local and foreign businessmen in May of the same year. Thus, as a result of the attention and care of Heydar Aliyev, a successful policy towards the development of entrepreneurship was implemented in 1993-2003. As a result of this policy, the share of the private sector in the country's economy has increased significantly.

The policy defined by National Leader Heydar Aliyev in this direction is successfully continued by President Ilham Aliyev. Currently, policy in this area is aimed at ensuring the systematic implementation of state patronage of entrepreneurship and increasing the effectiveness of state support measures for entrepreneurs. Consistent measures are being taken towards the implementation of this strategic line. A mechanism for state financial assistance to entrepreneurship has been created; this source is an important real source of meeting the financial needs of small and medium-sized businesses.

The creation of the Azerbaijan Export and Investment Promotion Fund has been ensured, the activities of which are aimed at achieving the leading goals of increasing the country’s export potential and attracting foreign investment. State-entrepreneurial relations have developed, and significant steps have been taken towards improving the system of state regulation of entrepreneurship. Effective mechanisms for protecting the rights of entrepreneurs have been created, and as a result of their use, cases of interference have decreased. Measures are regularly taken to strengthen consulting and information support for entrepreneurship and the development of business relations. On January 1, 2008, the organization of activities of business entities on the “one window” principle began. After the introduction of the “one window” system, the procedures for opening a business in Azerbaijan were reduced from 15 to 1, and the time spent on this was reduced from 30 days to 3 days. After the introduction of this system, the number of registered legal entities increased significantly.

In order to ensure sustainable development of entrepreneurship, the country has implemented an institutional mechanism of partnership between the state and entrepreneurs. The mechanisms created in this regard (Agency for the Development of Small and Medium Enterprises, the Azerbaijan Export and Investment Promotion Fund, Business Training Centers, etc.) play an important role in the development of state-entrepreneurial relations at the civil level.

Having won a glorious victory in the Patriotic War, Azerbaijan had the opportunity to restore the agro-industrial, environmental and hydrological potential of its territories, which had been illegally exploited for many years. Thanks to the anti-terrorist measures taken in September 2023, our sovereignty was restored and favorable opportunities opened up for further accelerating the influx of foreign investment into Azerbaijan, especially for organizing business in the liberated territories.

The “State Program for the Great Return to the territories of the Republic of Azerbaijan liberated from occupation”, approved by the decree of the Head of State Ilham Aliyev dated November 16, 2022, guarantees that work in this direction will be carried out at a more systematic level, with a consistent, comprehensive and specific plan. Revitalizing economic activity in the liberated territories, creating a favorable business and investment environment, expanding access to financial resources for those who will engage in entrepreneurial activities, reducing the cost of resources, providing banking, insurance and financial services to the population and other important measures further increase the significance of the State program. According to the program, the focus will be on marketing activities about the region’s opportunities through sales representatives in foreign countries, attracting investments through electronic platforms, promoting the creation of startups and business incubators.

As a result of the work done, the Karabakh and East Zangezur economic regions are becoming one of the important opportunities for effective and economical business activities in Azerbaijan.

The favorable business environment created in the country by the political will of Azerbaijani President Ilham Aliyev increases the desire of foreign companies to invest in Azerbaijan. At the same time, the formation of a business environment not only strengthens the economic, but also the democratic and political image of our country and ensures its sustainable economic development.

Recommended literature:

1. Mustafayev, Famil Front oğlu. Keçid iqtisadiyyatında dövlət tənzimlənməsinin makroiqtisadi aspektləri : monoqrafiya / F. F. Mustafayev ; elmi red. Ş. H. Hacıyev. - Bakı : Elm, 2008. - 540 s.
2. Szabo, Antal. Sahibkarlıq təhsili : problemlər, düşüncələr / A. Szabo, R. İ. Quliyev, T. Quliyev ; Beynəlxalq İqtisadi Araşdırmalar və İnkişaf Agentliyi, Azərbaycan Texniki Universiteti. - Bakı : Nurlar NPM, 2011. - 200 s.
3. Səfərov, Səttar İsmayıl oğlu. Yeni Azərbaycan : iqtisadiyyat, siyasət, dinamizm / S. İ. Səfərov. - Bakı : Azərnəşr, 2003. - 290 s.