Add to favorite
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS
russian visa

State Support for Small and Medium-sized Businesses in Russia
August 26, 2018 00:13


The auditors of the Accounting Chamber have made a conclusion about the inefficiency of measures of state support for small and medium-sized businesses, as RBC reports.

How to Open IE in Russia if You are a Foreigner

Having analyzed the measures of state support for three years (2014-2017), they came to the conclusion that the program does not contribute to the growth in the number of jobs in the sector of SMEs, and the grants are distributed between regions in a non-uniform way.

Research: Russian Entrepreneurs Notice Less Corruption

The program target indicators set for 2017 were mostly achieved; while the planned values themselves were significantly reduced, as compared to 2014.

For example, the target indicator titled ”The number of newly created jobs in the sector of SMEs” fell from 108 thousand (2014) to 25 thousand (2017). A total of 120.5 billion roubles from the federal budget have been spent on the development of the sector of SMEs from 2014 to 2017. In 2014-2016, only 5 regions out of 85 received 20% of grants. In the past year 11 regions received about 40% of the allocated funds - more than 200 million roubles each, and 8 regions received less than 0.7% of grants.

How to Determine the Tax Regime for an Individual Entrepreneur Doing Business in Russia

The auditors also noted that the indicator on the increase in long-term loans to SMEs was not achieved as well: the share of loans secured by guarantees under the National Guarantee System (NGS) has grown from 1.5% in 2016 to 4.8% in early 2018, but it still remains insignificant. The overall volume of loans given to the sector of SMEs decreased in the years 2015-2017.

We recall that the loyalty index of small businesses fell in the first half of 2018, as compared to the previous year, reaching 27 points, according to Inc.Russia referring to the study of Alfa-Bank titled “Small Business Pulse”. A more pessimistic attitude was previously noted only in November 2015, when the figure dropped to -38. The vast majority of respondents (83%) believe that the current economic situation in the country hinders the development of business, and the purchasing power of the population decreases (73%). 50% of respondents think that the economic situation will become even worse in the next six months, and the purchasing power will continue to decline (59%). More than half of respondents note a drop in their profits, another third of respondents observe a decrease in the number of customers and purchases. Besides, one of the factors of growth of pessimism is called the expected increase of value-added tax (VAT) up to 20%. How to chose you tax regime online - find here or consult our attorneys.

Author: Anna Dorozhkina

Tags: Russian laws Russian business Legal Services in Russia   

Next Previous

You might also find interesting:

Japan expects the Kuril Islands return Aeroflot Improved Its Position In the Global Ranking Nicolas Maduro Discussed Oil Prices With Vladimir Putin Russia will Stay the World's Largest Exporter of Primary Energy Resources Top 20 Richest People in Russia 2011

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share


search on the map
funny pictures  RTS   Kirov Region  Japanese Art  Kemerovo Region  Russia-USA  Konstantin Latyshev  Tula  Ural   Russian Poetry  Perm  Arkhangelsk  International Cellists Competition  St. Petersburg  Russian Metro  Russian Literature  Mercedes-Benz Fashion Week Russia  Russian tourism  Russian business  Syria  Smolensk Monuments  Arctic Ocean  Yoko Ono  Moscow monuments  Viktor Vekselberg  Russian Cinema  Graphic artists  Astrakhan  Russia-Latvia  Hereditary Disease  Feminism  FIFA world cup 2018 tickets  Mikhail Bulgakov  Archeology  Toutist Forum  Moscow  Artyom Mikoyan  Life Saving  Exhibitions in Moscow  North Caucasus  Concerts in St. Petersburg  Chinese and Russian Culture and Art Festival  Russian companies  FIFA World Cup   Russian officials  Eastern Economic Forum  Aquariums  Russian history  Romodanovo  Alexander Pushkin 

Travel Blogs
Top Traveling Sites