Romanian Government stimulates young entrepreneurs to establish and develop microenterprises
Romanian Government adopted in early February the Emergency Ordinance no. 6 / 02.02.2011, published in the Official Gazette no. 103/09.02.2011, in order to create a favorable environment for the recovery of the current possibilities of Romania's economic development and to stimulate business environment, by setting up and developing small and medium enterprises, and to foster entrepreneurship among young people.
Therefore, since the entry into force of emergency ordinance no. 6/02.02.2011, the persons interested in the establishment and development of a microenterprise, who meet the conditions imposed by the law, may require registration of the microenterprise at the competent Trade Register.
The microenterprise established by a debutant entrepreneur shall benefit of the following facilities:
The Agency for Implementation of Projects and Programs for Small and Medium Enterprises (AIPPIMM) shall grant a non-reimbursable financial allowances representing more than 50%, but not more than EUR 10.000 or the equivalent in RON, of the project value of the business plan, for which the debutant entrepreneur shall prove the co-financing sources;
guarantees granted by the National Credit Guarantee Fund for Small and Medium, IFN SA (FNGCIMM) for the loans accessed in order to achieve business plans accepted by AIPPIMM, subject to conditions stipulated in the rules and internal procedures of the credit institutions and FNGCIMM, of up to 80% of the loan amount requested, but not more than 80.000 EUR or the equivalent in RON;
exemption from the payment of the social security contributions owed by the employer, by law, for the salary of not more than 4 employees, with labor agreement concluded for indefinite period of time; the exemption shall not apply for the wages exceeding the amount of the average medium gross salary in the previous year;
exemption from the payment of the registration fees for the registration of the microenterprise within the Trade Register;
counsel, training and support from regional offices of AIPPIMM.
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