Benefits for start-up entrepreneurs

The Committee on Economic Policy considered the amendments proposed by the Government to the law "On additional measures aimed at stabilizing the economy of the PMR" in the first reading.

The law-in-draft was developed in order to create favorable conditions for the development of entrepreneurship as well as to provide additional measures of state support for start-up entrepreneurs in the form of a soft loan to create and develop their own business.

It is proposed to supplement the current law with a new article, which provides for a mechanism for granting preferential loans to entrepreneurs. Such a norm is aimed at supporting start-up entrepreneurs and creating favorable conditions for increasing the influx of entrepreneurs into business. In addition, according to the developers of the law-in-draft, the new norm will contribute to the creation of new jobs and improve the investment climate in our republic.

At the same time, there are certain conditions for obtaining a preferential loan. The entrepreneur must implement his project in priority areas for the state.

Starting entrepreneurs will be given a preferential loan for the purchase of buildings, structures, their reconstruction or construction, as well as for the purchase of machinery, equipment, and transport. The state will subsidize a 10% rate on a preferential loan. The mechanism for providing state support to start-up entrepreneurs will be established by a regulatory legal act of the Government of the PMR.

1 million 103 thousand rubles are reserved for these purposes in the budget 2022. It is planned that the recipients of state support will be 24 start-up entrepreneurs who develop the most promising business projects. The committee supported this legislative initiative and will recommend to the Supreme Council to adopt the law-in-draft in the first reading.