Details of 5 Billion Lira KOSGEB Support Have Been Announced

Details of billion lira kosgeb support have been announced
Details of billion lira kosgeb support have been announced

President Recep Tayyip Erdoğan announced KOSGEB's new support program with a budget of 5 billion TL. Industry and Technology Minister Mustafa Varank also explained the details of the program.



Stating that KOSGEB has started this program for businesses in the manufacturing sector damaged by Kovid-19 and technology-based start-ups established in 2017 and after, Minister Varank noted that the applications will be received between May 3-21.

Varank emphasized that they will support micro-scale enterprises with an upper limit of 30 thousand TL and small enterprises with an upper limit of 75 thousand TL, “We will provide additional support up to 25 thousand TL for the needs of technology-based start-ups such as testing and certification. We anticipate that approximately 130 thousand enterprises in total will be able to benefit from this program. " he spoke.

President Erdoğan, at the event he attended at MKE, said, "We are launching a new support program with a total budget of 5 billion TL through KOSGEB." announced the program.

We took action

Minister Varank said in a statement he made later that the pandemic, which continues to affect the whole world, has changed all the ways we do business. Noting that innovations come one after another in every field of life, from social life to economy, from industry to technology, Varank said, "In this period, we were one of the first countries to take action against Kovid-19." said.

We Started to Use Instruments

Minister Varank said, “Of course, our SMEs, which we regard as the backbone of the economy, were also affected by this process. We started to actively use all the instruments we have in order to reduce this impact of the pandemic on SMEs. he spoke.

We Keep the Pulse of SMEs

Varank stated that they postponed their KOSGEB receivables for 3 months and gave 4 months to the projects, and said, "We did not neglect to take the demands of our SMEs with the surveys we conducted throughout the process." said.

Underlining that they continue to maintain this extraordinary period with a proactive management approach, Varank continued as follows:

New Program: As you know, our dear President announced our new support program with a total budget of 5 billion TL through KOSGEB. Quick Support Program for Micro and Small Enterprises; It aims for micro and small enterprises operating in sectors such as manufacturing, computer programming and scientific R&D to have easy access to finance.

Payments After 2024: With this program, we will support our businesses affected by Kovid-19. We will look at a specific loss of revenue or cash flow disruption in 2020 compared to 2019. Our businesses, which are covered and maintain their employment in March 2020, will be able to benefit from this refundable support without interest. Our businesses will make their payments in equal installments after 3 years, that is, from 2024.

25 Thousand TL Additional to Technological Activities: With this program, we will support businesses that preserved their employment a year ago, up to 3 thousand TL in total in 30 months if they are micro-scaled, and up to 3 thousand TL in total in 75 months if they are small-scale. We will provide additional support up to an additional 25 thousand TL for the technology activities that technology-based start-ups have carried out or are planning to do this year. Again, specifically for these start-ups, we will not be looking at either revenue loss or cash flow criteria.

Call to Businesses: We anticipate 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 this support, which will provide fast and easy access to finance for our micro and small scale enterprises, will be beneficial to the SME ecosystem in Turkey. On this occasion, I invite micro and small businesses to benefit from this program.

Armin

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