Sverdlovsk Regional Entrepreneurship Support Fund signed agreements to collaborate with the Russian Association of Franchising on Sunday at the Ural Federal University forum titled Business, Franchising, Finance.
The long-term agreement concerns creating and applying financial programs in the Sverdlovsk region. The program includes support for people wanting buy a franchise or people wanting to model a business after a franchise.
First Deputy Prime Minister and Sverdlovsk region Minister of Investment and Development Alexei Orlov said that financial development is the first concern of the agreement.
Franchising will decrease risks for both new and existing businesses, Orlov said. The agreement provides support for entrepreneurs without requiring them to forfeit their resources, Orlov said.
Officials hope that these changes will stir growth in new businesses, the regional economy and existing businesses.
Forum participants included teachers, managers from important networks and consultants from Tyumen, Moscow and St. Petersburg. There more than 250 attendees from Yekaterinburg and the Sverdlovsk region.