Friday, July 20, 2018

Funding to aid 300 startup businesses

Thanks to the Sverdlovsk Regional Entrepreneurship Support Fund, 300 entrepreneurs starting businesses are scheduled to receive just under $2,000 U.S.

About $700,000 U.S. of the funds will come from the state budget. The remaining amount will be withdrawn from the federal treasury.

There were 709 applications for the funds. Funds will go to 305 companies, 300 of which are startups.

Most of the businesses receiving funds are shops, cafes, car companies, furniture stores, and children’s recreational centers. One of the applicants to receive money wants to use original French recipes to bake macaroons and then deliver the goods to various shops in the area. Another entrepreneur uses wood and metal to recreate medieval pieces.

Of the businesses receiving funds, 76 are located in Yekaterinburg, 26 in Novouralsk, 19 in Kamenska Ural, 19 from Serov, 17 from Krasnoturyinsk, 16 from New Lyali, 15 from Shearing, 13 from Artmivska and 12 from Nevyansk.

Even though not all of the entrepreneurs received funds, there were some interesting ideas on the applications. One person wanted to organize a mini-bowling center for children in Kamensk. In Nizhny Tagil, someone wanted to make exhibits of birds and animals.

To qualify for funds, the businesses must be registered within the Sverdlovsk region for less than a year. The owners must attend business training classes, compose business plans, and create budgets that use only 15 percent of the granted funds.

Each entrepreneur is limited to no more than $6,400 U.S.

Organizations in this Story

Sverdlovsk Regional Entrepreneurship Support Fund

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