Economic Development Minister Maxim Reshetnikov listed four new priority areas for the qualitative development of small and medium-sized businesses (SMEs). He spoke about this on meeting government commission for the development of SMEs. Until 2030, the Russian authorities want to reach the qualitative growth of SMEs.
First priority: support for start-up entrepreneurs. They need to be helped to get through the first two years, because, according to statistics, during the first two years, 51% of SMEs close. “In this regard, we propose to focus on targeted support for improving the competencies of entrepreneurs on the basis of the My Business centers and the SME.RF digital platform,” suggested Mr. Reshetnikov.
Second priority: growing small and medium business. According to statistics, only 3% of SMEs are moving from micro to small enterprises. Between micro and small enterprises lies the transition from a simplified taxation system to a regular one, which hinders growth, the minister explained.
Third priority: growing SMEs from priority sectors (including IT and tourism). “The share of such companies in the SME sector should grow, and here, it is on them that the most resource-intensive support measures should be focused,” Maxim Reshetnikov said. One such measure is concessional lending.
Fourth priority: introduce the concept of SME+, legal entities that have already grown out of the SME sector. “They do not always and immediately take root in the segment of large business,” said Mr. Reshetnikov. Leaving SMEs deprives them of support measures, he explained.
In 2022, as a support for SMEs, the regulatory burden on businesses was reduced: a moratorium was established on scheduled inspections, as well as restrictions on unscheduled ones. This year, more than 22 services and more than 400 federal and regional measures have been launched on the SME.RF digital support platform.
Read more in the publication “Kommersant” “Trillions added to small businesses.”