132 million rubles allocated to support Bashkiria’s entrepreneurs

About 132 million rubles were allocated from the federal budget to support the young and social entrepreneurs in Bashkiria in 2022. In terms of funding, the republic ranks first among the country regions, ahead of the Nizhny Novgorod and Moscow regions. It planned to increase funding by 21% to 162.9 million rubles in 2023, the Bashkortostan Minister of Entrepreneurship and Tourism Rustem Afzalov said.

He noted that Bashkortostan ranks second in Russia after the Moscow region in terms of the number of social entrepreneurs. With the support of social entrepreneurs, their number has more than doubled in 2 years.

Youth entrepreneurship also plays an equally important role in solving socioeconomic issues. 16% of entrepreneurs are young people under the age of 25. This promising category requires special attention and support, says Rustem Afzalov.

The Government of the Russian Federation decided to provide financial support measures in the form of grants to young entrepreneurs in March 2022. According to the Ministry of Economic Development of the Russian Federation, Bashkortostan is the leader in terms of the number of grants issued. A quarter of all grants issued in Russia are given to young entrepreneurs of our republic.

In total, 199 small and medium-sized businesses took part in the competition. Of these, 110 were registered this year.