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Small and medium entrepreneurs in the Smolensk Region will receive financial support
 

18.07.2014 Small and medium entrepreneurs in the Smolensk Region will receive financial support

On June 18-19, 2014 there was a meeting of the Competition Commission of the Ministry of Economic Development devoted to the selection of the RF regions which will receive financial support for small and medium enterprises from the federal budget.

The Smolensk Region was among 20 leading Russian regions which received the financial support for small and medium enterprises exceeding the limit estimated in the spring of 2014.

The amount of money from the federal budget was 220.4 mln rubles, the funds were spent on support for small and medium enterprises. The total volume of funds spent on the development of entrepreneurship in the region (including the funds from the regional budget) reached 280.7 mln rubles.

The subsidies granted in 2014 for small and medium enterprises include:

- subsidies for partial reimbursement of expenses of small and medium enterprises on equipment, starting up, production development or its modernisation;
- subsidies to reimburse the first installment (advance) under a leasing agreement on equipment;
- subsidies for small and medium enterprises providing pre-school education, children’s' care;
- subsidies for partial reimbursement of expenses of small and medium enterprises on their participation in international and interregional exhibitions, fairs and congresses;
- subsidies for small and medium enterprises working in the sphere of folk crafts, rural and ecological tourism.

The “Smolensk regional fund of entrepreneurship support” will also receive subsidies; the fund provides micro financial support and serves as a guarantee fund.

Moreover, the European Information and Consulting Centre in the Smolensk Region will continue its activity. The centre provides free information and consulting services for the companies interested in establishing and development of mutual cooperation with foreign partners.