Development of Small and Medium Entrepreneurship: Evidence from Russia

The level of development of small and medium entrepreneurship directly determines the degree of development of the country's economy as a whole. Small business increases the development of competition, "forces" large companies to introduce new technologies and increase production effi...

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Bibliographic Details
Published inJournal of economic & management perspectives Vol. 11; no. 3; pp. 1529 - 1534
Main Authors Khafizov, Marat D, Mustafin, Askar N
Format Journal Article
LanguageEnglish
Published Mersin International Economic Society 01.09.2017
Subjects
Alliances
Entrepreneurs
Entrepreneurship
Exports
GDP
Gross Domestic Product
Human capital
Innovations
Modernization
Public private partnerships
Raw materials
Small & medium sized enterprises-SME
Small business
Strategic management
Tax services
Russia
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Summary:The level of development of small and medium entrepreneurship directly determines the degree of development of the country's economy as a whole. Small business increases the development of competition, "forces" large companies to introduce new technologies and increase production efficiency. At the same time, supporting small businesses is supporting of a market, competitive economy as a whole. A major step in the development of small business in Russia was the signing of an order approving the strategy for the development of small and medium entrepreneurship in the Russian Federation for the period until 2030 (Order of the Government of the Russian Federation, 2016). Adoption of this strategy is a far-sighted decision of the state leadership, since a small business should become the backbone of the economy. This article reveals the importance of small and medium entrepreneurship at the present stage of the economic development of the Russian Federation. Particular attention is paid to problems arising in the development and functioning of small and medium entrepreneurship. Measures to stimulate and maintain this sector of the economy by the government of the Russian Federation are considered. The statistics of the structure of small and medium enterprises is given. The paper compares the functioning and development of small and medium entrepreneurship in the Russian Federation and the United States of America. The authors suggest ways of solving existing problems in the study.
ISSN:2523-5338
2523-5338