OVER THE YEAR, ABOUT THREE THOUSAND NEW REPRESENTATIVES OF SMALL AND MEDIUM-SIZED BUSINESSES HAVE EMERGED IN MORDOVIA
Favorable loans, grants, as well as numerous non-financial support measures create favorable conditions for the growth of the number of SMEs in the republic. Thanks to the implementation of the national project “Small and Medium-Sized Entrepreneurship and Support for Individual Entrepreneurial Initiative”, initiated by the President of the Russian Federation and supervised by the First Deputy Prime Minister Andrey Belousov, the number of SMEs by mid-March 2024 reached 24,113. Thus, compared to the same period last year, the growth exceeded 12%.
The number of self-employed individuals is also growing. Numerous government support measures are a big help here. Among them, festive fairs for the self-employed, which are held several times a year, have proven themselves as an effective and convenient way of direct communication with customers, as well as assistance in accessing marketplaces, creating advertising materials, conducting masterclasses, and much more. There is also financial support in the form of preferential loans and grants.
All of this contributes to the popularization of self-employment. In particular, since the end of February last year, the number of self-employed individuals in Mordovia has almost doubled, reaching 23,450 people.