Government of the Russian Federation allocated nearly 17 billion rubles to support small business

3rd April 2015

Russian Prime Minister Dmitry Medvedev signed the executive order on March 28, 2015 №538-r on allocation of subsidies to the regions to support small and medium business in 2015.

 

Total sum of money to be allocated for SMEs development is 16.9 billion rubles.

Subsidies are granted to the subjects of the Russian Federation in the framework of the subprogram “Development of Small and Medium Entrepreneurship” of the government program “Economic Development and Innovation Economy”.

The size of the subsidy was calculated on the basis of the region's population, budget’s fiscal capacityand effective use of the previous grant. Farms and companies working in the field of industry and innovation will receive financing.

“This decision will increase the capitalization of government programs of the Federation subjects and (or) municipal programs aimed at SMEs development, which will expand the range of small and medium enterprises eligible to receive financial support”, – the explanatory note to the document says.

Prime Minister of the Russian Federation Dmitry Medvedev also signed the executive order №549-r prepared by the Ministry of Economic Development of the Russian Federation in accordance with “anti-crisis plan” of the Government of the Russian Federation and in the framework of the government program “Economic Development and Innovation Economy”.

The document stipulates provision of subsidies in the amount of 5 billion rubles to the Fund for Assistance to Small Innovative Enterprises in Science and Technology to support the expansion of support for small innovative enterprises.

2 billion rubles out of 5 will be spent on grants to small innovative enterprises to finance innovative projects, which have the prospect of commercialization and 3 billion rubles – on scaling up the implementation of programs to support small innovative enterprises, which are being carried out by the Fund.

The adopted decisions will facilitate the creation of new and support of existing small innovative enterprises implementing innovative projects, as well as facilitate the creation of new jobs.

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