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Youth Business Russia programme officially launched in Far East

Vladivostok: Vladivostok City Administration hosted the official opening of a programme to support and develop young people's business ventures called Youth Business Russia (YBR). The YBR programme provides financing on easy terms to first-time entrepreneurs without start-up capital, as well as advice and training in running own business, and one-to-one mentoring by experienced entrepreneurs at business startup stage.

According to Natalia Zubova, deputy of mayor of Vladivostok, “Administration of Vladivostok City puts special emphasis on managing the young; the launch of the programme in Vladivostok is a landmark event for us. We are committed to giving every support to young business, including through the city's business promotion programme in place.”

“The Youth Business Russia programme is a programme of practical assistance to young people who decided to go into business for themselves. Loans are secured not by collateral or surety but by training, advice and assistance fr om mentors,” says Boris Tkachenko, Head of the IBLF Branch Office in Russia, YBR Programme Manager. He also mentioned that “it is very important for us that the program is implemented in partnership of local government, Vladivostok business community and NGOs”.

Sergey Generalov, president, FESCO Shipping Group, said: “We sincerely welcome and support Youth Business Russia Programme as an initiative aimed at forming a community of business-savvy, committed and energetic young entrepreneurs in Russia.”

Nadezhda Khotina, corporate governance director, SABMiller RUS, said:
“Professional employment of the young and development of business communities across Russia are a top priority for the government and SABMiller RUS alike.”

The Town Hall hosted more than 170 young people - students and recent graduates of major universities and colleges in Vladivostok who would like to try their hand at business.

The attendees and organizers were offered words of welcome and best wishes for this challenging field of endeavour by the deputy head of the Vladivostok administration Natalia Maltseva.

“Support for young entrepreneurs is a priority task for Vladivostok City Administration, and a lot has been done to accomplish it. The launch of the youth business support programme in Vladivostok is a high-profile event and a new stage; thanks to international practices and support from the private sector, proactive and creative young people receive a realistic chance to start their own business, take a good step in their career and make a strong contribution to the growth of their home town,” said the head of the department of economy and entrepreneurship of Vladivostok administration Yevgeniya Mayorova.

Acting head of youth department of the city of Vladivostok Yulia Velbik told that the department supported the activities of the School of Young Entrepreneur in the city, but unfortunately they could not offer financial assistance to those involved. YBR gives them this option.

US Consul for Political and Economic Affairs Mr Jonathan Yu said that the programme was being implemented with support from the United States Agency for International Development (USAID). He told the young entrepreneurs that he hoped they would benefit from studying current trends in business startup, develop the skills of critical and creative thinking, put their business plans into life and become a role model of successful young people in the Far East of Russia.

Viktor Pomelov, director of OAO DVMP Legal Department and director of the Vladivostok branch of FESCO Shipping Group Management Company LLC, said that the role of youth business must increase. The YBR Programme deserves attention and support from the entire business community.

Igor Boryakov, manager of the Vladivostok branch of MARITIME bank, offered the young people the following words: “You take centre stage of our future. Tomorrow we will see those who embark on the difficult path of private enterprise at our bank.”

Svetlana Bazhenova, director of the Far-Eastern Centre for the Promotion of Civic Initiatives and Social Partnership, commented that “we already have a favourable environment in place for a good start of the Youth Business Russia programme. We have been running Youth Business School with support from Vladivostok city administration since 2009, and our enrollees, while eager to start their business, say nevertheless that they lack, first, financing and, second, experience. And I am simply happy that first-time entrepreneurs will finally have an opportunity to receive financing, consulting and mentoring support under the programme.”

The presentation attendees wanted to know wh ere they could find out more about the programme and the terms for joining it, what would happen if their business failed, when a young entrepreneur would get a mentor, etc.

The official launch of the programme is on the list of major events of Global Entrepreneurship Week. Event organizers: International Business Leaders Forum (IBLF) and Vladivostok City Administration. The event is supported by The Prince’s Youth Business International (YBI), United States Agency for International Development (USAID), OXFAM, FESCO Shipping Group, MARITIME Bank, SABMiller RUS and Association of Credit Unions of Primorsky Krai.

Youth Business Russia Programme

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