3.9 Start-up funding for young entrepreneurs
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All supports have been explained together with their conditions and details in official website of KOSGEB. Announcements are made through the website of KOSGEB and there are internet platforms which are used to announce all grant and project support programs at national level. In addition, guidelines and brochures relating to entrepreneurship start-up supports provided by KOSGEB are developed and published. Entrepreneurs are informed at local level of supports and other funding opportunities by means of provincial directorates of KOSGEB.
One of the duties specified in the Law on Establishment of KOSGEB is to rehabilitate, reorganize and integrate small and medium sized businesses, to encourage and guide according to integration and necessities new enterprises, to seek foreign financing and technological contribution opportunities and to plan governmental supports and contributions to enterprises.
According to the Regulation on KOSGEB Support Programs operators, entrepreneurs, professional organizations and operating establishments are provided with 7 types of support.
- R&D, Innovation Industrial Application Support Program
- SME Project Support Program
- Thematic Project Support Program
- Cooperation-Collaboration Support Program
- Entrepreneurship Support Program
- General Support Program
- Developing Enterprises Market SME Support Program
In addition, according to the Regulation on SME Loan Interest Support Program entrepreneurs, investors and exporters are provided with loan and interest support.
With the beginning of a new support program in 2019, grant supports or low-interest and interest-free credit opportunities are provided to young people starting new businesses till 31 December 2020. In addition, they are provided with tax exemption for three years. This opportunity only applies for the young people between 18-29.
The young entrepreneurs opening new businesses are to benefit from ten thousand 592 TL of grant (approximately 1.500 Euro)