Yakutia’s bold push to empower entrepreneurs and small businesses pays off
Yakutia has taken major steps to bolster its small and medium-sized business sector. Over 45,000 SMEs now operate in the region, employing more than 134,000 people. Recent measures include financial aid, loan schemes, and efforts to clear overdue payments owed to entrepreneurs by state-owned firms.
The regional government has rolled out several support programs for businesses. A total of 770.97 million rubles in subsidised loans and guarantees was distributed to 227 SMEs. Special loan products were also introduced: creative industry professionals can access up to 2 million rubles, while IT companies qualify for loans of up to 5 million rubles.
Tourism has seen a push as well, with 117 new routes developed by 26 local operators. The industry received 30.3 million rubles in funding to boost growth. Meanwhile, the number of self-employed workers in Yakutia has climbed to 70,700. Aisen Nikolayev, Yakutia’s leader, ordered the government to clear debts owed to SMEs by state-owned enterprises. Kirill Bychkov, chairman of the Yakutia government, was put in charge of resolving these overdue payments. Nikolayev stressed that transparent, law-abiding entrepreneurs should face no obstacles and instead gain fresh opportunities. Local authorities were also instructed to tackle the challenge of moving businesses into the formal economy. Coordination Councils under district and municipal heads must now review barriers and propose solutions. Regional and federal funding for SME support in 2025 reached 10.6 million rubles, though specific details on how these funds were allocated remain unclear.
The initiatives aim to ease financial pressures on Yakutia’s businesses while fostering growth in key sectors. With debt clearance underway and targeted funding in place, the region expects a more stable environment for entrepreneurs. Over 134,000 jobs now depend on the success of these measures.
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