Appraising the Current Condition of Business Entities in the Manufacturing Industry

Abstract: The paper emphasizes that entrepreneurship, owing to its widespread character, determines largely the socioeconomic and, in a way, the country's political development. It also considers the sources of entrepreneurship funding. Entrepreneurship in Azerbaijan as a whole is escalating and developing. On the other hand, all this took shape by applying the residual principle in supporting enterprises, and because of lack of a concrete and distinct government policy. The key problems were identified and the reforms being introduced were shown to have a positive effect on entrepreneurship. However, at the same time, in view of the immature condition of the reforms, development of entrepreneurship in the country, especially in the manufacturing industry, calls for substantial expenditures and is being retarded. Hence, coherent changes in the legislation, which would lay down a clear and stable framework for current activities, especially for business planning of business entities, would be a significant step.

Keywords: State, Entrepreneurship, Business Activities, Financing, Sources of Funding, Innovation