Despite the unprecedented pressure on Russia’s economy, we have not seen a big recession. In March, businesses’ earnings were up 27%. We managed to avoid significant drops in small and medium-sized businesses’ performance. We have the right to request additional financing for national development programmes with respect for the priorities to be developed jointly by the government, business unions and business development institutes. Next year, we will raise a question of additional financing for SMEs, as their payments grow, — Alexander Kalinin, President, All-Russian Non-Governmental Organization of Small and Medium-Sized Businesses OPORA RUSSIA.
We are reviewing guaranteed support. We no longer consider loan provision on a case-to-case basis. Now we monitor banks’ portfolios and track who gets the support, as well as the amount of it. Going from a guarantee mechanism to an umbrella one helped us increase the amount of support 3.5 times in 2021, with roughly 11 thousand businesses getting support year-to-date. I know that this is not a big number, but these enterprises employ 150 thousand people. It is also important that automation allowed us to see the following effect: every fourth loan was given to a business that would not have been able to get back-to-back financing without this mechanism — Aleksandr Isayevich, General Director - Chairman of the Management Board, Russian Small and Medium Business Corporation.
We need cheap long-term money as an SME support measure. Loans should be issued for a minimum of 5–7 years. Short term can be a killer for businesses. Production is not IT – you cannot put it in a suitcase and relocate. We need to create equal opportunities for doing business all around the country — Evgeniya Chavkina, Director, Dives Group.