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Small and medium-sized entrepreneurship in Russia and regions in 2019–2020

Author

Listed:
  • Barinova Vera

    (Gaidar Institute for Economic Policy)

  • Zemtsov Tsepan

    (Gaidar Institute for Economic Policy)

  • Tsareva Yulia

    (Gaidar Institute for Economic Policy)

Abstract

Government funding of the respective activities of small and medium-sized enterprises (SME) under the national project "Small and medium-sized entrepreneurship and support of entrepreneurial initiatives" increased in 2018-2020. However, in 2019, the number of SMEs subjects decreased by 118 thousand compared to 2018, and the number of people employed in the sector fell to 18.8 million, i.e. decreased by almost half a million people (the goal of the national project for 2024 is 25 million people). The share of the SME sector in GDP decreased to 20 percent in 2018 (the goal of the national project for 2024 is 32.5 percent). Generally, negative trends in the development of the sector, associated with an increase in the VAT rate, the introduction of online cash registers and almost zero growth in household incomes were observed in Russia in 2019. In 2020, near-zero economic growth and the coronavirus pandemic, which has already led to a significant drop in demand, especially in the restaurant business, tourism and entertainment, will negatively affect the development of the SME sector. A more significant reduction in performance of the sector`s activity is expected compared to 2019. However, the conditions for the development of entrepreneurship and, accordingly, the indicated trends vary significantly across Russia`s regions.

Suggested Citation

  • Barinova Vera & Zemtsov Tsepan & Tsareva Yulia, 2020. "Small and medium-sized entrepreneurship in Russia and regions in 2019–2020," Published Papers ppaper-2020-1052, Gaidar Institute for Economic Policy, revised 2020.
    • Handle: RePEc:gai:ppaper:ppaper-2020-1052
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    File Function: Revised Version, 2020
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    Citations

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    Cited by:

    1. Stepan Zemtsov, 2020. "New technologies, potential unemployment and ‘nescience economy’ during and after the 2020 economic crisis," Regional Science Policy & Practice, Wiley Blackwell, vol. 12(4), pages 723-743, August.
    2. Zemtsov, S., 2020. "Institutions, entrepreneurship, and regional development in Russia," Journal of the New Economic Association, New Economic Association, vol. 46(2), pages 168-180.

    More about this item

    Keywords

    Russian economy; small businesses; medium-sized enterprises;
    All these keywords.

    JEL classification:

    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
    • L52 - Industrial Organization - - Regulation and Industrial Policy - - - Industrial Policy; Sectoral Planning Methods

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