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MIL OSI Translation. Region: Russian Federation –

January 24, 2022, 07:02


Photo by E. Samarin.

This is 41 percent more than in 2020.

The turnover of small and medium-sized enterprises (SMEs) in 2021 amounted to 3.2 trillion rubles. This is 41 percent more than in 2020. Since July last year, the monthly turnover of SMEs has consistently exceeded the pre-pandemic level, said the Deputy Moscow Mayor for Economic Policy and Property and Land Relations Vladimir Efimov.

“Small business is one of the most mobile areas of entrepreneurship due to the ability to respond flexibly and quickly to challenges and adapt to new circumstances. Last year, the share of SMEs in the total turnover of trade and service enterprises in Moscow increased by 0.3 percentage points compared to 2020, to 21.7 percent. This is another confirmation of the post-crisis recovery of the sector,” the deputy mayor emphasized.

September was the record month for SMEs last year. Then the turnover of enterprises reached 356 billion rubles, exceeding the level of September 2019 by 64 percent and 2020 by 60 percent. Even in October and November last year, which accounted for an additional 11 non-working days, the total revenue of the companies was significantly higher than the same months of 2020 and 2019.

In October 2021, SMEs’ revenue amounted to 290 billion rubles, which is 40 percent more than October 2020 and 17 percent more than October 2019. In November, turnover reached 273 billion rubles – more than November 2020 and 2019 by 35 and 21 percent, respectively, Vladimir Yefimov added.

Significant support for small and medium-sized businesses was provided by the set of anti-crisis measures adopted by the Moscow Government at the very beginning of the pandemic, including tax and rental benefits, subsidies, soft loans, and grants. In 2021, some of them were extended, and new measures were introduced.

The number of SMEs is also growing. According to tax registers, their number in Moscow at the beginning of 2022 reached 778.5 thousand. This is seven percent higher than at the beginning of last year and four percent more than it was before the pandemic, in January 2020, said the Minister of the Government of Moscow, head Department of Economic Policy and Development of Moscow Kirill Purtov.

“At the beginning of 2022, more than 352,000 individual entrepreneurs of the capital were included in the SME register, which is 16.7 percent more than at the beginning of 2021, and 23.8 percent more than in January 2020. The number of employees attracted by individual entrepreneurs has grown by more than 25 percent in two years – from 100 thousand people in January 2020 to 125.7 thousand people at the beginning of 2022,” the Minister emphasized.

The number of legal entities – small and medium-sized businesses – by January 2022 amounted to about 426.3 thousand, which is comparable to the beginning of 2021. Of these, over 65 thousand are new companies, which at the beginning of 2022 were created by 23 percent more than a year ago.

More information about the economic policy and property and land relations of Moscow can be found on the website.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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