With funding from the European Union under the EU4Business Initiative, the European Bank for Reconstruction and Development (EBRD) helped an Azerbaijan-based poultry company get financing to expand operations.
The EBRD helped Nabran-Qusculuq LLC, a poultry breeding company in Azerbaijan to develop a qualified business plan and to receive financing from the EBRD partner bank. Within a year of completing the project, Nabran-Qusculuq LLC started expanding their existing production facilities, signed contracts with new wholesalers and increased their turnover by 10%.
In December 2013 Demir Bank, one of the EBRD partner banks referred the company to EBRD Advice for Small Businesses Team in order to assist them with a business plan development. The EBRD connected Nabran-Qusculuq LLC with a local consultant, Consulting House for Entrepreneurs LLC.
The consultant:
- Generated information about the company’s competitors, their prices, facilities, conditions, number of employees and other key aspects;
- Studied the company’s market share in the Southern regions;
- Developed charts and tables for investment needs;
- Calculated the economic rationality of the company;
- Developed the business plan and presented it to the company management.
In May 2014, based on the presented business plan, the company received a loan for the amount of EUR 2,000,000 from Demir Bank.
After receiving the financing the company management purchased and installed new Italian equipment for its six workshops and improved the facilities for employees (dining room and shower facilities).
In May 2015 the owner started the construction of three new workshops. This will help the company to increase the volume of its production by 20%.
At the same time the management signed contracts with several big Baku based supermarkets, which allowed the company to expand to the Baku market.
Within a year of the project’s completion, Nabran-Qusculuq LLC increased its turnover by 10% and number of employees by 22%
According to Mr. Mahir Haciyev, the owner of the company, the project was successful and helped them to expand their business.
Total project value
€8 638
Client contribution
€3 455
