Financial support of small and medium-sized business will increase

Author: Foreign Economic Relations Department

With every year, financial support of small and medium-sized businesses in Bashkortostan will increase. Next year, 700 million rubles will be allocated for this goal from various sources. In 2010, the financing of entrepreneurs’ support will increase three-fold. This was announced at the meeting of local mass media representatives with deputy Prime-Minister of Bashkortostan Government, minister of industry, investment and innovation policy Mr. Yury Pustovgarov.

The minister also informed that at present, Republic’s program of support for small and medium-sized businesses for Year 2009 is being drafted and will be approved by the end of this year. It will envisage new, more efficient means of supporting businessmen, including special assistance to the start-ups.

Mr. Pustovgarov believes that small and medium-sized businesses should be more active in developing innovation spheres of economy, create solid ties with large corporations on the basis of the inter-industry industrial cooperation and outsourcing. Businessmen will receive support in business-incubators and industrial parks, where they will get access to the infrastructure and the newest technologies available