Kursk region to allocate 80 million Rub. for SME support in 2012

Kursk region has earmarked 80 million Rub. for the support of small and medium-sized businesses in 2012, according to a statement made by the information support management of Kursk region’s Information and Press Committee.

The regional government will lend assistance to entrepreneurs pursuant to the regional target SME development and support program for 2012-2015 descending from the previous four programs. When the fourth program was in action (expiring in 2011), the number of small and medium-sized enterprises in Kursk region increased by a quarter. Enterprises receiving state grants created 6 thousand new jobs. Total turnover across this segment reached 125 billion Rub. last year.

The grants businessmen compete for may be used to repay interest on their loans or refund their expenses for participation in international or interregional exhibition fairs or certification expenses.

The competition committee selecting the projects qualifying for the grants has accepted 20 applications for 3.7 million Rub. both from first-time entrepreneurs and those who have been successfully running their businesses for several years.

Subsidizing first-time entrepreneurs is especially popular with the citizens of the regions. The maximum amount of the state subsidy is 300 thousand Rub.

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