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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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Federal SME and Entrepreneurship Programmes in the Russian Federation

This chapter examines federal programme support for building the capacities of SMEs and entrepreneurs and developing the business support infrastructure. It examines existing programmes for building an entrepreneurial culture, start-up grants, youth entrepreneurship support, support of innovative SMEs, support for production modernisation, support for export-oriented SMEs, microfinance, loan guarantees, support for tailored municipal programmes, support for diversification of mono-industry cities and development of the business support infrastructure. A number of areas for improvement are identified in these programme areas. The chapter also recommends introducing new measures for entrepreneurship awareness, entrepreneurship training, high-growth enterprises and large firm-SME supplier linkages and further increasing the scale and quality of the business development services infrastructure, including the business incubator system.

English

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