JRL NEWSWATCH: “Russia’s consumer orientated business takes the brunt of the coronacrisis blow, basic sectors down 10% in April” – bne Intellinews

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“Russia’s basic sector output was down 9.9% year on year in April … [with] the effects of the coronacrisis …. Over the first four months … Russia’s basic sector output fell 0.9% y/y, versus 2.3% growth in 1Q20. … [Only] [a]griculture … show[ed] growth. All … other subsectors contracted in April. Retail, services, manufacturing and wholesale suffered the most …. […]

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RUSSIALINK: “Russia’s Shops Reopen Their Doors, But Customers Only Trickle In” – Moscow Times

File Photo of Cash Register with Drawer Open and Hands of Cashier

Tills are starting to ring as Russia’s lockdown eases, but business owners expect revenues to stay lower for longer. (Moscow Times – themoscowtimes.com – Jake Cordell – June 8, 2020) Last week Oleg Voronin opened the doors of his four I AM Studio upmarket women’s boutiques in Moscow for the first time in two months. After a few days spent […]

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JRL NEWSWATCH: “Facing Disaster, Russian Businesses Find Kremlin Aid Lacking” – AP

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“Desperate [Russian] business owners … have been pleading with the Kremlin for help in the pandemic shutdown. The response … has been slow and largely focused on big industries, leaving most smaller companies to fend for themselves … raising the prospect of massive unemployment and social unrest. The Kremlin’s anti-crisis measures reflect its long-held emphasis on state-controlled companies and a […]

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RUSSIALINK: “‘The Government Doesn’t Believe in Small Businesses. The Feeling’s Mutual.'” – Moscow Times

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Russia’s Entrepreneurs Scramble For a Lifeline. Coronavirus has hit Russia’s smallest businesses hard. Putin’s support package could be too little, too late. (Moscow Times – themoscowtimes.com – Jake Cordell – March 26, 2020) Last week, Alla Komissarova sent a letter to her landlords, asking them to show a little flexibility towards the rent due for her two Moscow chocolate workshops […]

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RUSSIALINK: “Russia’s Small Businesses Contribute Just 20% of Economy; The importance of SMEs to the Russian economy is falling, despite government targets” – Moscow Times

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(Moscow Times – themoscowtimes.com – January 28, 2020) [Text with chart themoscowtimes.com/2020/01/28/russias-small-businesses-contribute-20-percent-russia-economy-a69063] Small and medium-sized enterprises (SMEs) make up just a fifth of Russia’s economy, the national statistics agency Rosstat has assessed. Rosstat also said the contribution of SMEs to Russia’s GDP fell to 20.2% in 2018 from 22% in 2017, the most recently available data. Russia defines SMEs as […]

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JRL NEWSWATCH: “MinEkonomiki congratulates itself on SME progress” – Bear Market Brief

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“The Ministry of Economic Development (MinEkonomiki) will have a meeting to discuss progress on the national project on supporting small and medium-sized businesses. …  launched this January … focus[ing] on business education, bringing self-employed businesspeople out of the gray economy, and … allow[ing] small businesses to borrow at subsidized rates. Some of these initiatives (particularly the subsidized credit) are good, […]

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RUSSIALINK: “[Putin at] Small Business as a National Project forum” – KremlinRu

File Photo of Putin Sitting at Desk, Looking Down, Writing, During Call-In Show, adapted from screenshot of video at kremlin.ru

(Kremlin.ru – October 23, 2018) The President spoke at a plenary session of the All-Russia Non-Governmental Organisation of Small and Medium-Sized Businesses OPORA Russia’s Small Business as a National Project annual forum. Before the session, Vladimir Putin visited the technical workshops of Moscow’s Technograd recreational and educational complex, which opened at VDNKh in September. This complex is aimed at educating […]

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TRANSCRIPT: [Putin at] Meeting with Alexei Repik, President of Delovaya Rossiya national public organisation

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(Kremlin.ru – June 30, 2016) Vladimir Putin discussed with Delovaya Rossiya President Alexei Repik the results of the union’s activity over the past 15 years and ways of improving the business climate in Russia. President of Russia Vladimir Putin: Good afternoon, Mr Repik. This year marks 15 years since Delovaya Rossiya was founded. A great deal has been accomplished during […]

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Moscow’s Overnight Demolition Blitz Sparks Legal Debate

Snowy Night on Red Square with Old St. Basil's Lit Up

(Moscow Times – themoscowtimes.com – Daria Litvinova, Vasily Kolotilov – February 11, 2016) You could hear a young woman yelling, but her voice was diluted in the sound of bulldozers, smashed glass and metal. “What are you doing?! There are people still in there! Stop it!” she said. Several police officers stood outside, watching the bulldozer do its work without […]

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NEWSLINK: “Amid recession and predatory officials, Russia’s small businesses hang on. Small businesses are a small part of Russia’s oligarch-dominated economy. But despite the headwinds they face – and the instability they could bring to the current order – they are showing resilience amid the downturn.” – Christian Science Monitor

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Putin frees small business from inspections for three years

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(Moscow Times – themoscowtimes.com – July 14, 2015) Russian President Vladimir Putin has signed a law giving small companies a three-year holiday from regular inspections, a measure lawmakers hope will spur the development of small business in the country, according to a document published Tuesday [14 July] on the government’s legal information website. Small business is relatively underdeveloped in Russia, […]

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Five Stories From Put-Upon Small Business in Moscow

Aerial View of Moscow From Beyond Stadium, file photo

(Moscow Times – themoscowtimes.com – Alexander Panin – December 18, 2013) Before Mayor Sergei Sobyanin came to power in 2010, Guram Bolkvadze, a businessman from Georgia, owned 24 kiosks at bus stops across Moscow. Then one day, he was given just a few hours to get his goods out of the shops before the bulldozers came in and leveled 18 […]

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How to start a small business in Russia

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(Russia Beyond the Headlines – rbth.ru – Witold Jancszys, special to RBTH   – July 23, 2013) The business landscape in Russia has changed in the last decade and, now, more and more foreign nationals are starting businesses in the country, attracted to the opportunities for growth and space for new ideas in the Russian market. Foreign entrepreneurs doing business in […]

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Fund to Support Small and Medium Businesses Could be Created

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(Moscow Times – themoscowtimes.com – June 19, 2013) The Finance Ministry has proposed using a state guarantee fund to increase support for promising small- and medium-sized businesses, Vedomosti reported Wednesday. The proposals were prepared in response to the order made by President Vladimir Putin a week ago to stimulate business activity. This year the ministry has allocated 20 billion rubles […]

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Putin dissatisfied with share of SMEs in Russian GDP

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NOVO-OGARYOVO. Nov 15 (Interfax) – Russian President Vladimir Putin thinks it necessary to raise the contribution that small and medium businesses make to Russia’s GDP. “The number of our small and medium enterprises is growing, but this level is still far from where it should be, given that in countries with a developed market economy the contribution of small and […]

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