Governor's Young Business program transforms 2,000 aspiring entrepreneurs into success stories

A regional initiative to boost young entrepreneurs has marked its fifth year with strong results. The Young Business program, backed by Governor Veniamin Kondratyev, has helped over 2,000 entrepreneurs and 3,500 self-employed professionals launch their careers. On December 8, 2025, the governor met with some of the program’s most successful graduates to discuss their progress. The Young Business program was created to revive economic activity by supporting young business owners. It offers financial help through low-interest loans, regional subsidies, and guarantees. Since its launch, half of its participants have successfully started their own ventures.

Karen Avagimyan was one of the early beneficiaries, completing the Young Entrepreneur School in 2023. He later launched a family business with his wife, Elina, who joined the program in 2025 to develop her management skills. Their company now supplies baked goods to shops and cafés across Krasnodar. The couple plans to expand further in 2026 by opening a bakery. Their menu will include fresh sourdough bread, croissants, and pastries for local customers.

The program’s impact is clear, with 50% of participants turning their ideas into working businesses. Over five years, it has supported thousands of entrepreneurs, helping them secure funding and build skills. The Avagimyans’ story is one of many showing how the initiative continues to shape the region’s economy.