Grants for social entrepreneurs in Russia’s single-industry towns

Grants for small and medium-sized social entrepreneurs in single-industry towns

07.05.2019

The Ministry of Economic Development has produced a new version of the order on subsidies for small and medium-sized enterprises (SMEs) in Russia’s regions. The revision offers a new definition of social entrepreneurship, expanded to include small and medium-sized companies as well as business initiatives with a focus on ecology.

However, state funding will be provided only to ‘support the accelerated development of SMEs in single-industry towns.’

According to the document, the state guarantees to cover a proportion of costs incurred by entrepreneurs engaged in initiatives related to the ‘creation and/or development of leisure centres for children, nurseries, childcare, etc.’

In addition, subsidies will be available to entrepreneurs whose social initiatives are aimed at ‘improving living conditions, developing the ability of people to achieve independent lives, helping them to find employment, and giving support to disabled and elderly people, and people in difficult circumstances.’

The maximum subsidy will be 1.5 million roubles per recipient. Conditions for the dispensation of funding can be found in this document.

‘Grants for the development of regional guarantee companies are offered to accelerate the development of SMEs in single-industry towns, and to assure them financial resources through the provision of guarantees and surety,’ the order states.

Source: https://www.asi.org.ru/news/2019/05/07/prikaz-minekonomrazvitiya/