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New, February 2013

Sixteen young entrepreneurs from the city of Ryazan and Ryazan Oblast became grant applicants

The second phase of the Citi Foundation and the Fund for Sustainable Development “Small Business for Sustainable Development Project” has been successfully completed. The Project is being carried out in collaboration with the Ryazan Oblast Ministry of Economic Development and Trade. Trainers, graduates of the Start Your Own Business Training Course conducted by the staff of the Russian Microfinance Center, trained 180 first time entrepreneurs from the city of Ryazan and Kasimovsky, Sasovsky, Pronsky, Skopinsky and Ryazhsky raions of the region  in the fundamentals of starting and operating a small business. At the end of the training, the attendees developed 60 business plans of which 32 were submitted for a regional contest of awards that will be provided by the Project.

The business plans were evaluated by experts from the regional Ministry of Economic Development and Trade and the Regional Association of Young Entrepreneurs, by well-known entrepreneurs and representatives of banks and the Ryazan Branch of S.Y.Vitte University, Moscow, where the contest was held, in several categories: social effect, sustainability of the proposed business considering the current economic situation in the country and region, and also the chances of a business to produce actual results one year after the award.

Interesting proposals were presented by novice entrepreneurs from the raions in several spheres of activity, including agriculture, transport services, the services, and additional education. Many projects of city residents were focused on the social sector.

The expert commission selected 14 applicants for business development grants; and in March 2013, the winners of the contest will be identified and project funding will begin.

Attendees of small business development training in Ryazan Oblast

At a presentation of a business plan at the regional contest

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