Dagestan stimulates economic activities

Dagestan stimulates economic activities

The ‘Dagpredprinematelstvo’ consulting company is launching new projects for small business support. This year 266 million rubles from the federal budget are allocated to these projects’ realization. As a lack of working capital is the major problem of Dagestani small business, one of the most important forms of such support is granting subsidies and credits.

Some of ‘Dagpredprinematelstvo’s’ projects stipulate compensation for rent of office space, others – assistance in personnel training. Innovative enterprises are at the top of the Fund’s list: they are granted 70% compensation for their initial expenses. Apart from small and medium-sized enterprises, ‘Dagpredprinematelstvo’ helps rural and urban consumer cooperatives, as well as state and private companies dealing with infrastructure development.

Since 2009 ‘Dagpredprinematelstvo’ also explores a new field of activity – awarding grants for young entrepreneurs. Grants are expected to stimulate young people to establish their own businesses. The federal and republican budgets have allocated sums for this grant project. 186 grant winners of 2009 have already created 524 jobs. Only the most innovative and considered business plans can win the award.

Musa Musaev, Makhachkala, exclusively to VK.

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