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Russian Federation: Key Issues and Policies

image of Russian Federation: Key Issues and Policies

This publication examines the major policy challenges, achievements and next steps for the creation of a more entrepreneurial population and a stronger SME sector in the Russian Federation, which are critical to the country’s economic growth and diversification. Despite less regulatory burdens and more subsidy financing for start-ups, production modernisation, innovation and exporting, framework conditions need to be improved in areas such as the rule of law, commercialising science and improving entrepreneurial skills and education. Gaps in SME and entrepreneurship programmes also need to be filled, such as through new initiatives for high-growth firms and large firm-SME linkages. Strengthening business development services infrastructure and improving access to finance are further important challenges. All these improvements will need to be spread across the regions of the Russian Federation if national objectives for growth and balanced spatial development are to be met.

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Business Environment For SMEs and Entrepreneurship in the Russian Federation

This chapter examines the quality of national framework conditions for SMEs and entrepreneurship in the Russian Federation, covering macro-economic conditions, international market integration, competition and state ownership, public procurement, the administrative burden, tax and social security, transparency and the rule of law, human resources, physical infrastructure the innovation system and access to financing. The state has made several important improvements across these areas that will ease SME and entrepreneurship development. A number of further policy reforms are recommended for example in the areas of reducing state control in the economy, strengthening transparency in public dealings with enterprises, building a skilled SME workforce and commercialising public research.

English

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