STEPAN ZEMTSOV DELIVERED A PRESENTATION: “CRISIS GEOGRAPHY IN RUSSIA’S SMALL AND MEDIUM BUSINESS”
On February 20, Stepan Zemtsov, Candidate of Economic Sciences, Senior Researcher of Innovation Economics Department of the Gaidar Institute, delivered a presentation: “Crisis geography in Russia’s small and medium business” within the framework of a scientific conference on arctic entrepreneurship, organized by ANO “Institute of regional consulting.”
In his presentation, Stepan Zemtsov noted that small and medium-sized businesses are a significant sector of the Russian economy (43% of GDP in the business sector, 38% of employees), a potential source of employment, diversification and economic growth. The pandemic and the economic crisis affected about 65% of all SMEs and 60% of those employed in the sector, thereby increasing risks of unemployment and a decrease in GRP. The author of the study focuses on the existing system of SME support in Russia and notes that government measures are ineffective.