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.
Foreword
The government of the Russian Federation has recently stepped up its attention to the promotion of small and medium-sized enterprises (SMEs) considerably, by taking actions to create a more competitive business environment and introducing public programmes to tackle barriers in areas such as skills, finance, and innovation. Russian SMEs currently represent less than 30% of the workforce, but the government’s intention is to increase this to 50% by 2020.
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