Actual problems of small and medium business in Russia

UDC 338.1
DOI: 10.51409/v.a.2023.10.03.004

Authors

A. P. Garnov,
Doctor of Economics, Professor of the Department of Global Financial Markets and Fintech, Plekhanov REA, Moscow, Russia
N. P. Tishkina,
Candidate of Economic Sciences, Associate Professor of the Department of Human Resource Management, Moscow Financial and Industrial University “Synergy”, Moscow, Russia
G. A. Rybina,
Candidate of Economic Sciences, Associate Professor of the Department of IBM-1 “Economics and Business”, Bauman Moscow State Technical University, Moscow, Russia

Abstract

The article considers the factors limiting the development of small and medium-sized businesses and ways to eliminate these problems. The primary difficulty in the development of small and medium-sized businesses can be considered the procedure of opening your own company. Other barriers are considered to be weak legal protection of entrepreneurs, unavailability of financing.
Specific measures are needed to address the challenges of developing small and medium-sized businesses in Russia. Firstly, it is necessary to simplify the procedures for opening and closing a business, reduce costs, reduce the number of permits and speed up the process of obtaining them. Secondly, state bodies should ensure effective legal protection of business by improving the work of courts and the strictest punishment of violators of property rights. Thirdly, it is necessary to create more accessible and reliable sources of financing for small and medium-sized enterprises, such as government programs to subsidize interest rates for businesses.

Keywords

management, small and medium business, government support, sanction, entrepreneurship, economy.