Representatives of small- and medium-sized businesses have asked President Vladimir Putin to instate a law on developing small enterprises

Wednesday, October 21, 2020

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According to Putin's department on public appeals, the representatives claimed wrote in a letter that up to 19% of the working population are involved in small businesses and small businesses account for nearly 12% of the GDP. The representatives addressed Putin, the organizational, legislative and other bodies, on the federal and regional levels, noting that "the opportunities for a more dynamic development of this type of economic activity are not being used in full." In the letter, they stated that those who appeal for government help often list several factors responsible for situations, usually with the economic factor topping the list. "In order to become fully independent, an entrepreneur, especially a beginner, has to count only on his own abilities. Numerous management and banking structures most often do not respond to requests for help," they said. The authors say that exorbitant taxes hamper the development of small business. Another problem, they say, is the bureaucracy involved in opening and running a business. The letter also contains a number of proposals on efficiently running small and medium businesses.

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