Monday, June 26, 2017

Yekaterinburg administration to provide budgetary support for SME development

The administration of Yekaterinburg held the final stage of negotiation on Monday for its draft resolution on the budget to support small and medium-sized businesses, opting to finance the program through 2016.

The development program aims to encourage the growth of a strong infrastructure for small and medium businesses through budgetary support for non-profit organizations. This will include the support of a non-profit fund for a Yekaterinburg business development center in the year 2014, providing a planned subsidy of more than $430,000, Ekburg.ru reports.

The Yekaterinburg City Duma established the fund in March 2010. The business development center includes a classroom with computers, a functioning IT-business incubator and consulting specialists who will provide budding entrepreneurs with legal, accounting, tax and management assistance.

The center will help aspiring entrepreneurs in Yekaterinburg implement their business projects, according to Ekburg.ru.