While authorities talk about the importance of supporting entrepreneurship and prepare new programs, the real support for small and medium enterprises (SMEs) in Russia continues to decline rapidly. In the first quarter, the support given to SMEs was 52.5 billion rubles (about 570 million euros), 27.5% less than in the same period last year, when it reached 72.3 billion rubles (about 785 million euros), according to calculations by the Center for Development of the Higher School of Economics.
According to the institution’s estimates, support for small and medium-sized enterprises decreased by a third over the past year.
The analysis shows that all indicators have recorded declines: the number and proportion of SMEs and self-employed individuals who have benefited from support have decreased by 6.3% compared to the previous year, including in the case of financial support — by 17.3%. Also, both the volume of aid and its average value have decreased — by 13.5%.
At the same time, the need for support for the small and medium-sized enterprises sector is increasing, against the backdrop of the continuous deterioration of the economic situation.
The monitoring carried out in May by the Central Bank of Russia showed that economic activity in this sector was the lowest among all company categories. The business climate indicator for micro-enterprises and small companies has dropped to the lowest level.
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