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Economic development

Russia Sets Ambitious Goal for SME Growth, 20% Above GDP by 2030

Strategic Insights

— 2 min read

The President of Russia has set a national goal to achieve real growth of income per SME employee at least 20% above GDP growth rate by 2030. To achieve this, the support infrastructure needs to concentrate its efforts in two areas: support for companies from priority sectors of the economy and support for priority social groups. The government has allocated one billion rubles to support small and medium-sized businesses through the My Business centers.

Key Takeaways:

  • The government has set a national goal for SME growth, aiming for a 20% increase in income per employee above GDP growth rate by 2030.
  • Support infrastructure should focus on two areas: companies from priority sectors (22% of SME companies, employing over six million workers) and priority social groups (SVO participants, women, youth, and people of silver age).
  • Small and medium businesses in Moscow contribute significantly to the capital's economy, accounting for 14% of all Russian SMEs and generating over a quarter of tax revenues.
  • The Moscow SME segment has shown positive dynamics, with the business climate improved through various support measures, including a system of growth and increasing business efficiency.
  • In Karachay-Cherkessia, there are 13,800 SME companies registered, employing 49,800 people, with taxes paid to the republic's budget system increasing by 2.5 times during the implementation of the national SME project.
  • The Guarantee Fund has issued about 200 guarantees totaling 800 million rubles, attracting at least four billion rubles to the region's economy.
  • The microcredit mechanism has become a popular method of state support, with 255 loans totaling 700 million rubles issued, contributing to the creation of over 400 jobs.
  • The region has a My Business center, offering a range of non-financial services to support and develop small and medium-sized businesses, with over 5.3 thousand entrepreneurs contacting the center and receiving about 13 thousand services from 2019 to 2024.
  • Small and medium business in Karachay-Cherkessia currently accounts for more than 30% of the republic's economic turnover, with its share in the gross regional product growing from 19% to 25% over the past six years.
  • The personnel shortage is one of the existing barriers to the growth of small and medium-sized businesses, and cooperation with higher and secondary education organizations is seen as a growth point for the sector.
  • The "Honest SIGN" marking system helps entrepreneurs develop their business and protects the market from unscrupulous participants.

Statistics:

  • The government has allocated one billion rubles to support small and medium-sized businesses through the My Business centers.
  • Small and medium businesses in Moscow account for 14% of all Russian SMEs.
  • Small and medium businesses in Moscow generate over a quarter of tax revenues, totaling over one trillion rubles.
  • The Guarantee Fund has issued about 200 guarantees totaling 800 million rubles, attracting at least four billion rubles to the region's economy.
  • The microcredit mechanism has issued 255 loans totaling 700 million rubles, contributing to the creation of over 400 jobs.
  • Over 5.3 thousand entrepreneurs have contacted the My Business center, receiving about 13 thousand services from 2019 to 2024.
  • Small and medium business in Karachay-Cherkessia currently accounts for more than 30% of the republic's economic turnover.
  • Small and medium business in Karachay-Cherkessia has increased by 30% over the period of implementation of national projects.

Sources:

  • Ministry for Economic Development of the Russian Federation (no date)
  • Deputy Minister of Economic Development of Russia Tatyana Ilyushnikova (no date)
  • Director of the "Createkh" center of Bauman Moscow State Technical University Alexander Gofman (no date)
  • Deputy Head of the Department of Entrepreneurship and Innovative Development of Moscow Alexander Deryugin (no date)
  • Minister of Economic Development of the Karachay-Cherkess Republic Artur Ezaov (no date)
  • Maria Zaikina, Vice President for Relations with Industry and Special Projects at Ozon (no date)
  • Sergey Kholkin, Deputy General Director of CRPT (no date)

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