How to get state support for starting a business?

So, you open or have already opened a business. There are so many instruments and programs of state support that it is easy to get confused in them. Let’s talk about the “Damu” foundation.

Photo from the site of damu.kz

Let’s start with the program “Business Roadmap-2020”, which is designed to help entrepreneurs.

Entrepreneurs in this program are divided into three categories:

– a young beginning entrepreneur (up to 29 years), working for less than 3 years;

– Beginning entrepreneur (age does not matter), working less than 3 years;

– active entrepreneur.

We will write about the first two categories – beginning entrepreneurs. According to the “Road Map of Business” an entrepreneur can receive from the state two types of assistance – financial and non-financial.

Financial support

1. Subsidizing a bank loan to KZT 20 million

How it works: The entrepreneur receives a loan in the bank at 19%, some of them pay “Damu”. The size of the subsidy is 7% for urban entrepreneurs (the entrepreneur pays 12%) and 10% for entrepreneurs from regions, small and single-industry cities (the entrepreneur pays 9%).

2. Bank guarantee from Damu

How it works: If the bank requires a mortgage, for example, in the form of real estate, but the entrepreneur does not have it, it can apply for a guarantee from Damu. If “Damu” approves, the entrepreneur provides a part of the pledge – 15% of the loan amount, and the missing 85% “Damu” takes over. For example, if an entrepreneur wants to get a loan for KZT20 million, he deposits a pledge of KZT3 million, for the remaining KZT17 million “Damu” gives a guarantee.

3. Gratuitous grants up to 3 million tenge

How they work: Money for grants for beginning entrepreneurs are allocated from the republican budget once a year. Akimat holds a competition and determines the winners. “Damu” advises and helps to write a business plan for participation in the competition.

How is the contest?

Participants submit applications for participation in the competition. Further, the entrepreneur is invited to protect the project from two stages. The first stage is the presentation of the project to the competitive commission. The second stage is the consideration of the Regional Coordination Council under the akimat. The Council makes the final decision. If the entrepreneur wins the grant, “Damu” forms a tripartite grant agreement with him.

Conditions:

1. The business project should relate to the priority sectors of the economy. But this does not apply to entrepreneurs from the regions, they can open any business.

2. The project should have an innovative component. This is a mandatory criterion for all participants. The degree of innovativeness of the project is determined by the competitive commission.

3. An entrepreneur must receive a free two-day course for beginners in the Business Advisor project.

Non-financial support (free training and consultation)

1. Basic course. Opening a new business.

Duration: 3 days

What they teach: The basics of entrepreneurship. How to register a business, how to pay taxes, how to calculate the balance, how to hire employees, etc.

Who can participate: Any current or potential entrepreneur. The number of participants is unlimited.

Time: The announcement of the beginning of applications for the nearest course will appear on the site “Damu”.

How the course goes: Every three months, “Damu” collects applications, which forms groups of students. Then he looks for a service provider – a good coach, a business coach. After informing the participants about the time of the course. Usually the course takes place in the branch “Damu” in each city.

2. Startup Academy. Business Acceleration.

Duration: 24 academic hours

What is taught: Special new program “Damu” for accelerating (accelerated promotion) start-up and development of start-ups.

Who can participate: any active or potential entrepreneur. The number of participants is unlimited.

Time: Will be held every three months. The announcement of the beginning of applications for the nearest course will appear on the site “Damu”.

As it passes: The project is launched for the first time this year. “Damu” collects applications, which forms groups of students. Then he defines the main niches of entrepreneurship and seeks business coaches, successful businessmen with experience who will be mentors. After the end of the course, “Damu” selects the top 20 entrepreneurs for participation in a special competition. The winner of this contest will be presented and recommended by “Damu” to investors, business angels and mentors. If the latter like the project, an entrepreneur can get an investment. Also, “Damu” attracts banks, so that the best projects can receive financing in the form of a loan with subsidies.

3. The Center for Entrepreneurship Services (OCP)

How it works: There are two types of consultants at the OCP: financial consultants from the Damu Fund and non-financial consultants from the Atameken National Chamber of Entrepreneurs. All services are free of charge.

What consultants are there at the OCP:

– accountant and tax;

– Specialist in customs procedures;

– lawyer;

– marketer;

– IT specialist;

– specialist in public procurement;

– specialist in public-private partnership;

Important: Recently, “Damu” has introduced a new function for its consultants at the OCP – now they will accompany the entrepreneur from start to finish receiving a loan from the bank.

How it works: Let’s say an entrepreneur has come to the OCP, he needs to get a bank loan and a guarantee from Damu. The financial agent collects information about the mortgage, fixed assets, equipment, project implementation stages, etc. The entrepreneur must provide all the required information. Proceeding from this, the financial analyst makes financial analysis, helps finish the business plan, directs to training and additional consultation. If the entrepreneur is already ready to contact the bank, the finant chooses a suitable program for him, and goes with him to the bank.

 

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