Minister Varank announced the details of KOSGEB’s new 5 billion lira support program

Minister Varank stated that KOSGEB will support micro-scale businesses with an upper limit of 30 thousand TL and small businesses with an upper limit of 75 thousand TL, “We anticipate that approximately 130 thousand enterprises in total will be able to benefit from this program.” used the expressions.

Industry and Technology Minister Mustafa Varank announced the new support voices of KOSGEB with a budget of 5 billion lira, announced by President Recep Tayyip Erdogan.

Anadolu Agency

Stating that KOSGEB has started this program for technology-based start-ups established in 2017 and after, with enterprises in the manufacturing sector damaged due to the new type of coronavirus (Kovid-19) epidemic, Minister Varank stated that they will receive applications between 3 and 21 May.

Varank emphasized that they will provide an upper limit of 30 thousand lira to micro-scale enterprises and 75 thousand lira to small businesses, and said, “We will provide additional support up to 25 thousand lira for the needs of technology-based start-ups such as testing and certification. We anticipate that you can benefit gave the information.

Stating that the epidemic, which continues to affect the world, has changed all the ways of doing business, and innovations in all areas of life from social life to economy, industry to technology, Varank said, “In this period, we were one of the first countries to take action against Kovid-19.” used the expression.

Varank pointed out that SMEs, which are considered as the backbone of the economy, were also affected by this process and emphasized that they actively use all instruments to reduce the impact of the pandemic on SMEs.

Minister Varank stated that they postponed their KOSGEB receivables for 3 months, they gave 4 months additional time to the projects, and that they did not neglect to take the demands of SMEs with the surveys they made throughout the process.

Stating that they continue to maintain this extraordinary period with a proactive management approach, Varank said:

“Our President announced our new support program with a total budget of 5 billion TL through KOSGEB. The Rapid Support Program for Micro and Small Enterprises aims at easy access to finance for micro and small enterprises operating in sectors such as manufacturing, computer programming and scientific R&D. With this program, Kovid-19 We will look at the situation of a certain loss of income or cash flow deterioration in 2020 compared to 2019. Our businesses that are covered and maintain their employment in March 2020 will be able to benefit from this refundable support without interest. It will make its payments in equal installments as of 2024. “

Varank stated that an additional 25 thousand lira will be provided to technological activities, and with this program, they will support businesses that preserved their employment a year ago, up to 30 thousand lira in 3 months in micro-scale, and up to 75 thousand lira in total in 3 months if small-scale.

Stating that technology-based start-ups will provide additional support of up to 25 thousand lira for the technology activities they have realized or planned to realize this year, Varank said:

“Again, specifically for these start-ups, we will not look at the income loss or cash flow criterion. We foresee that approximately 130 thousand businesses in total will be able to benefit from this program. Our current goal is to make the first support payments in June. I wish that our support, which will provide easy access, will be beneficial to the SME ecosystem in Turkey. I hereby invite micro and small businesses to benefit from this program. “

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