Business support fund to be set up in Chelyabinsk Region

27 October 2008 (08:11)

Governor of Chelyabinsk Region Petr Sumin met the heads of the region’s banking and small and medium business communities to discuss the current state of the region’s economy and the federal authorities’ attempts to make the country’s financial system more dependable as well as the things the regional government could do to support the small business. The meeting participants spoke favorably of the Russian Government’s decision to allocate 30 billion RUR to help the small business and said they hoped some portion of this money would be directed to Chelyabinsk Region.

In the meantime, an ad hoc anti-crisis committee inspired by Petr Sumin came up with an action plan targeted at supporting the small business within the region. The plan provides for more subsidies meant to compensate the interest rate local companies are paying on their loans and leasing contracts. The same applies to the light industry, agricultural enterprises, and farms. Then, some special regional and municipal guarantee funds will be set up, an easier taxation scheme will be launched for sole traders, and state and municipal property will be offered to small enterprises at very reasonable renting prices. In addition, the regional authorities intend to monitor all the violations of the law occurring in the process of privatization, renting state or municipal property, and using the entrepreneurial infrastructure.

The spokesperson for the Governor reports those present at the meeting approved of the action plan and came up with their own additional proposals. For one, they wanted the regional authorities to consider the setting up of a regional business support fund. Governor Petr Sumin asked his deputy Yuri Klepov to look into all the proposals and said the measures would be taken and financial help provided in the very near future.

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