Committee for Economy: More than Br10.5 million will be allocated for the development of small and medium-sized businesses in the Vitebsk region
"More than Br10.5 million from the regional budget will be allocated for the development of small and medium-sized entrepreneurship in the Vitebsk region for 2021-2025. Of this amount, more than Br9 million will be used for infrastructure development. These include support centers and small business incubators. There are three such incubators in the region - in Vitebsk, Polotsk, and Orsha," noted Veronika Zaboluyeva.
About Br1.5 million of the allocated sum is intended for financial support of small businesses. These funds will be directed towards supporting investment projects in the form of subsidies to reimburse part of the interest on bank loans. The criteria for providing such assistance are outlined in Decree No. 255 "On Certain Measures of State Support for Small Entrepreneurship." "Support for small and medium-sized enterprises can be provided, for example, when expanding production, building new workshops, purchasing materials and components for equipment. At the same time, job creation is a mandatory condition," explained the Chairperson of the Economy Committee.
She added that from these funds, entrepreneurs in the region can also partially reimburse expenses for participation in exhibition and fair events.
Not only financial support for small businesses is envisaged, but also training in entrepreneurial skills, stimulation of business initiative, and popularization of entrepreneurial activity. The Economy Committee of the Regional Executive Committee will prepare methodological guides and reference publications on organizing entrepreneurship if necessary. The authorities will also provide organizational support for the startup movement, business forums, and round tables on entrepreneurship.