Sunday, October 22, 2017

Sverdlovsk region plans to subsidize industrial small, medium enterprises

Starting in 2013, the Sverdlovsk region is planning to subsidize its agricultural and industrial small and medium enterprises, according to the Sverdlovsk region's press service administration.

The subsidization is meant to provide compensation for expenses incurred from investing in energy production and efficiency upgrades.

The mechanisms to support the agricultural and industrial small and medium enterprises were discussed during a Wednesday meeting of the Sverdlovsk government. Dmitri Nozhenko, the Sverdlovsk region's economics minister, gave the main report, Ural Business Consulting reports.

Nozhenko said that approximately 202,000 small and medium enterprises are currently operating in the Sverdlovsk region. Approximately 45 percent of the businesses deal in personal demand item repairs, home appliances, motorcycles, automobiles, retail trading and wholesale, while approximately 10 percent deal with agriculture and industrial production.

This year, the Sverdlovsk region's economics ministry instituted multiple additional instruments to stimulate the development of small and medium enterprises. Small and medium enterprises will receive compensation for the investments they make in upgrades in energy efficiency, new equipment and production upgrades. The businesses will also receive compensation for investments in technological hookups to electrical networks and the costs of paying off loans taken out from banks in Russia for the purposes of upgrades or construction, Ural Business Consulting reports.