News » February, 2011 » 2 February 2011
Romanian Govt Approves Micro-Business Start-Up Aid Act
02.02.2011, 19:00 | Business | 964 views
Romanians younger than 35 will be eligible for up to EUR10,000 as non-refundable financing to start their own micro-company, as long as they hire at least two employees and reinvest 50% of their profit every year, as per an emergency ordinance approved by the Government on Wednesday. Young entrepreneurs will receive up to 50% of the value of their planned business, but no more than EUR10,000, plus counseling and support, from the Agency for the Implementation of Projects and Programs for Small and Medium Enterprises (AIPPIMM). The business will be exempt from paying social security contributions for the income gained by four employees hired for an indefinite period, as well as from the fees charged by national or local Trade Registry Offices. Read more on Mediafax.ro
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