GENÇ GİRİŞİMCİ DESTEĞİ REHBERİ 2024

YOUNG ENTREPRENEUR SUPPORT GUIDE 2024

What are the Conditions for Young Entrepreneur Support?

1. In order to benefit from the support, young entrepreneurs must be over 18 years old and under 29 years old. Young entrepreneurs in this age range can benefit from support.
2. Young entrepreneurs are required to earn income within the scope of Article 20 bis of the Income Tax Law. According to this provision of law, young entrepreneurs must have a certain income.
3. Young entrepreneurs must be insured for the first time within the scope of Bağkur as of 01.06.2018. In other words, young entrepreneurs who were not insured before this date can benefit from support.
4. Young entrepreneurs must have opened a liability in their name for the first time due to their commercial or freelance activities. In other words, young entrepreneurs who have never been a taxpayer before can benefit from support.
5. If young entrepreneurs are a general partnership or sole proprietorship they can benefit from young entrepreneur support. In this case, young entrepreneurs who establish an ordinary partnership or sole proprietorship are entitled to receive support.

Young entrepreneurs who meet the above-mentioned conditions are provided with Bağkur premium support for 12 months. This support aims to cover the social security premiums of young entrepreneurs.

Who Cannot Benefit from Young Entrepreneur Support?

• People who have a partnership in another company or who were previously taxpayers and have closed their company cannot benefit from this incentive. For example, people who have previously been partners in another company or have closed their own company are not entitled to benefit from this incentive.
• People who establish a stock company or limited company cannot benefit from this incentive. Therefore, people who take action to establish a joint stock or limited company are not entitled to benefit from this incentive.

How much is the Young Entrepreneur Support Incentive Amount?

Young entrepreneurs under the age of 29 will be exempt from paying income tax on the profits they earn up to 230,000 TL for 2024, according to the 2nd slice of the income tax tariff, thanks to the young entrepreneur earnings exemption. This exemption allows young entrepreneurs to obtain extra financial resources to grow their businesses and invest further.

In addition, young entrepreneurs must maintain this status for 3 years in order to benefit from this exemption. During this period, an environment is provided where young entrepreneurs can take advantage of opportunities to grow their businesses and be successful.

In addition, social security premiums of young entrepreneurs are also supported. Bağkur premiums of young entrepreneurs are covered by the treasury for 1 year. In this way, the financial burden of young entrepreneurs is reduced and they can expand their businesses more easily.

The lowest monthly Bağkur premium to be paid in 2024 is 5,900.74 TL with a 5% discount for sole proprietorship owners. Thanks to this discount, young entrepreneurs can make their premium payments more conveniently. In particular, this discount reduces costs for young entrepreneurs, providing them with more flexibility to expand their businesses and seize new opportunities.

For young entrepreneurs to benefit from these incentives, it offers them important opportunities to grow their businesses and achieve success. Thanks to these incentives, economic support is provided to young entrepreneurs and the development of entrepreneurial spirit and innovative ideas is encouraged.

Law on Young Entrepreneur Support

The following paragraph has been added to the first paragraph of Article 81 of the Social Insurance and General Health Insurance LawNo. 5510 dated 31.05.2006:

Those who benefit from the income exemption for young entrepreneurs within the scope of Article 20 of the Income Tax Law No. 193 dated 31/12/1960 and who have reached the age of 18 and have not completed the age of 29 as of the starting date of liability, are eligible for the following articles, numbered 1 of paragraph (b) of the first paragraph of Article 4 of this Law. Within the scope of the sub-paragraph, as of 01/06/2018, the premiums of real persons who are considered insured within the scope of Bağ-Kur for the first time are covered by the Treasury for 1 year, based on the lower limit of earnings subject to premium determined in accordance with Article 82. In ordinary partnerships and sole proprietorship partnerships, only one partner can benefit from the provision of this paragraph.

Accordingly, as of 01.06.2018, Bağkur premium support will be provided for 1 year to young entrepreneurs between the ages of 18-29 who establish a sole proprietorship company for the first time. Within the scope of this support, the state covers the entire premium of 5,900.74 TL that must be paid monthly. This incentive program will be implemented for 1 year to provide financial support to young entrepreneurs. Accordingly, a total of 70,808.88 TL of Bağkur support will be given to young entrepreneurs for a period of 12 months. This support program has been implemented to provide financial relief to young entrepreneurs in starting a business and to increase their chances of success.

How to Apply for Young Entrepreneur Support?

You can apply for young entrepreneur support with a petition prepared through the Interactive Tax Office Thanks to this application, it is possible for young entrepreneurs to receive support from a financial advisor during the company establishment phase. When the petition submitted by your financial advisor is finalized (you can go to the tax office individually to expedite it), you will receive the message "Young entrepreneur can benefit from support." You will receive the message and you will be able to start using the support. Additionally, you can start benefiting from the support by personally applying to the Bağkur Insurance Registration Service of the SSI Directorate closest to your residence address and have your Bağkur premium debts that arose during the application process erased. In this way, young entrepreneurs can both receive financial support and get rid of Bağkur premium debts.

  Important Notice About Young Entrepreneur Support

It is important to consider your start date when benefiting from young entrepreneur support. During the application, your start date is considered as your company establishment date and your incentive application is approved. Additionally, if you had unregistered income before the company establishment date and this is detected in the future, penal action may be taken for your unregistered income. In this case, criminal action may be taken for unfairly benefiting from government support for young entrepreneurs and a refund of the benefits offered may be requested. In addition, it is not possible for you to later become a partner in an existing business or professional activity.

 Establish Your Company by Benefiting from Young Entrepreneur Support with IFASTURK

You can get help from the live support on our website for all your questions about establishing a company and young entrepreneur support. You can also use a variety of resources to learn more about entrepreneurship. You can research topics such as creating a business plan, conducting market research, customer targeting and marketing strategies.

If you wish, you can also contact us via e-mail or +90 (212) 908 06 60–61 Additionally, if you would like to get information about the different support programs offered for young entrepreneurs, you can read our article on KOSGEB supports on our website. Thanks to these supports, you can grow your business, expand into new markets and gain a competitive advantage.

Opportunities are always available for young entrepreneurs. To be successful in the business world, continuous learning, obtaining information from different sources and developing business strategies are important. There are many educational resources, mentoring programs, and collaboration opportunities available online. By using these resources, you can grow your business and become a successful entrepreneur.

Remember, you can establish your company and step into a successful business life thanks to the support of young entrepreneurs with IFASTURK. We're here to provide any support you need!

Mesut SENEL | Ifasturk CEO

Independent Accountant Financial Advisor