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THE MINISTRY FOR ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION The SME Support Measures in Russia SMEs Criteria THE MINISTRY OF ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION The Federal Law «On Development of Small and Medium Entrepreneurship in the Russian Federation» Micro Enterprises up to 15 employees annual turnover up to $ 2,1 mln Small Enterprises 16-100 employees annual turnover up to $ 14 mln Medium Enterprises 101 – 250 employees annual turnover up to $ 35 mln 2 The SME Sector Main Indicators THE MINISTRY OF ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION 1,7 mln micro, small and medium enterprises and 4,1 mln private entrepreneurs 17 mln employed in the SME sector 25% of total employment (2010) 21% - share of SMEs in Russia’ GDP 3,2% - the SME sector growth in 2010 Main problems: √ Administrative burdens √ Expensive credits √ Decreasing of number of SMEs in monotowns 3 SME Support Measures THE MINISTRY OF ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION Reduction of Administrative Burdens The Finance Support Program under the Ministry for Economic Development of Russia The Finance Support Program under the Government Corporation «Vnesheconombank» Access to Government Procurements SMEs Finance & Credit Access Easing Taxation Access to Real Estate Assets 4 SME Support Measures THE MINISTRY OF ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION Administrative Regulation Measures Start-up of business with a simple notification procedure Any inspection is fulfilled one time in three years Number of licenses for SMEs has been decreasing 5 SME Support Measures THE MINISTRY OF ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION The Government Procurements 20% quota is reserved for SMEs Guarantee deposit is reduced 6 SME Support Measures THE MINISTRY OF ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION Access to Real Estate Assets The privatization program for SMEs Specialized list of public real estate assets in state and city levels exists for SMEs Special benefits to innovative SMEs founded by Universities 7 SME Support Measures THE MINISTRY OF ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION Taxation 5% tax on income or 6% tax on turnover Single tax for trade and personal services SMEs 8 SME Support Measures THE MINISTRY OF ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION The Finance Support Program under the Ministry for Economic Development of Russia Grants for start-up Guarantee Funds Microfinance Organizations Leasing Export-oriented SMEs Infrastructure (business incubators, industrial parks, tech-parks) Trainings Annually above 100 000 new jobs 9 SME Support Measures THE MINISTRY OF ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION Guarantee Funds 80 entities at all in Russia 70% max. loan guarantee 300 bank – partners $ 13 mln – max. loan $ 10 mln – max. guarantee 10 SME Support Measures THE MINISTRY OF ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION Microfinance Organizations 67 microloan offices in Russia 16 000 microloans for SMEs $ 17 500 average loan 11 SME Support Measures THE MINISTRY OF ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION Support of Innovative SMEs $ 17 000 grant $ 170 000 subsidy for new equipment, know-how and training Up to $ 2 mln subsidies from venture funds e.g. the Russian Venture Company, Rosnano about 1000 innovative SMEs are set up by Universities in Russia 12 SME Support Measures THE MINISTRY OF ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION Support of Export-oriented SMEs $ 34 000 grant Loan subsidies Subsidies for exhibition activity Export Support and Consulting Centers in the Russian regions 13 SME Support Measures THE MINISTRY OF ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION The Finance Support Program under the Government Corporation «Vnesheconombank» Bank-partners (91) GC «Vnesheconombank» $1,3 bln Russian Development Bank SME SME Leasing companies (67) SME Factoring companies (8) Microfinance organizations (18) SME $ 3,5 bln program fund in 82 Russian regions 14 THE MINISTRY OF ECONOMIC DEVELOPMENT OF THE RUSSIAN FEDERATION Thank You for Attention! • The Ministry for Economic Development of the Russian Federation • The SME Development Department • tel: +7-495-695-53-05 • fax: +7-495-695-51-76 • Web: www.economy.gov.ru