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Economy/Business
30 June 2022, 16:38

Young entrepreneurs will be able to receive up to half million rubles for business development in Bashkiria

Grants from 100 to 500 thousand rubles for the implementation of a business project will be available to entrepreneurs under the age of 25 inclusive. Funds are provided on a competitive basis to individual entrepreneurs and legal entities. In the latter case, a young person must own a share in a company of more than 50%. In Bashkortostan, this measure became available due to the implementation of the "Small and Medium Enterprises and Support for Individual Entrepreneurial Initiatives" national project.

“In this way, we expect to support young people and their entrepreneurial activities. The conditions for participation in the competition for a grant are simple: you will need a certificate of entrepreneurship training completion, own funds in the amount of 25% of the project cost, and an electronic digital signature to conclude an agreement. Also, the recipient of the grant will have to take the obligation to maintain activities and report to the ministry for three years,” the Minister of Entrepreneurship and Tourism of the Republic of Bashkortostan Rustem Afzalov said.

The grant is provided once for projects that have been selected by the competition committee. The final amount is determined in proportion to the costs provided for the implementation of the business project. The funds are targeted, they can be used, for example, to repair or rent premises, purchase equipment for the project, franchises, and software, connect engineering networks, and pay utility bills and communications: a total of 15 points.

The requirements for applicants, conditions and necessary documents for participation in the competition are stated in the text of the resolution. The announcement of the start of accepting applications for the competition will be posted on the website of the Ministry of Entrepreneurship and Tourism.

Translated by:Tatyana Aksyutina
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