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Half of SMEs in Russia Suspended their Work
5.05.2020 12:54
Half of SMEs in Russia Suspended their Work

56% of  the small and medium-sized enterprises (SMEs)  suspended their work due to restrictive measures taken to combat a new type of coronavirus, Vedomosti reports citing monitoring data of business ombudsman Boris Titov. Representatives of 2.35 thousand sector companies took part in the survey - it turned out that almost half of them cannot apply for the majority of benefits, since they do not belong to the affected sectors.

      36% of respondents said that they could not qualify for help because of too stringent conditions. According to the Ministry of Economic Development and Trade, only half of those employed in small and medium-sized businesses will be able to receive a salary subsidy. Taking into account  the microenterprises, payments will go only to one fifth of the employees. Of the companies that continue to work, 63% reported a double drop in demand. For 29% of entrepreneurs, demand fell by more than 90%.


Author: Anna Dorozhkina

Tags: Russian economy Russian business coronavirus   

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