Mid-Size Companies of Sverdlovsk Region to Receive Record-Beating Funding

1.14 billion rubles are to be invested in developing small and mid-sized businesses in the Sverdlovsk Region in 2019; exceeding the last-year amount tenfold, this financing includes 1,057 billion taken from the federal budget.

 

Viktoria Kazakova, Minister of Investment and Development of the Sverdlovsk Region, told RusBusinessNews that "enhancement of investment and measures on supporting small and medium enterprises are to facilitate the increase in the number of such subjects and their share in the gross regional product”. She also stressed the point that the Governor Evgeny Kuyvashev had set the 2024 goal of increasing the contribution that small and medium enterprises make to the gross regional products to 3 trillion rubles and the number of jobs to 700 thousand.

 

Ministry of Investment and Development of the Sverdlovsk Region has developed 5 projects focused on improving entrepreneurial environment, financing, acceleration of growth of SMEs, cultivation of entrepreneurial spirits, and enhancement of agricultural cooperation.

 

Ilya Sulla, Director of the Sverdlovsk Regional Entrepreneurship Support Fund, notes that these documents are to lay the foundation for efforts on developing the SME segment for the next six years. “We are planning to continue facilitating social projects, potential and existing exporters; we are also interested in franchising — learning the art of business, assistance in creating new franchises, notifying on current offers. Starting 2019, we are eager to modernize business processes in order to shrink the funding period from several weeks to a few days. New finance tools for procurement and tender participants and exporters are to appear," stated Ilya Sulla to RusBusinessNews.

Sverdlovsk Region holds the fifth place in the SME number rating among the constituents of Russia. As reported by the Federal Tax Service, 202,400 small and mid-sized companies are registered in the region.