Business activity fell under mobilization – Newspaper Kommersant No. 194 (7395) of 10/19/2022

The business activity indicators of small and medium-sized enterprises (SMEs) last month reacted sensitively to the partial mobilization announced on September 21. According to a survey of 1.8 thousand companies, the RSBI index (determined by the study of PSB, Opora Rossii and Magram Market Research) sank to 50.9 points. At the same time, back in August, the mood of SMEs as a result of recovery was at the level of January (53 p.). All companies, regardless of size and industry, reported a deterioration in September. At the same time, the manufacturing business felt more confident – it actively increased investment in production against the backdrop of the departure of foreign suppliers. The mood was noticeably worse in the sphere of trade and services, which is explained by the decline in consumer activity. Small and medium-sized companies managed to stay in the growth zone of the index (54.4 and 56.5 points) due to the high values ​​of August, while the micro-business index collapsed (to 46.5 points).

Deterioration in September was recorded in almost all components of the index – in terms of revenue, personnel and investment activity. In September, only 15% of respondents reported an increase in sales (18% in August), while 22% (26%) expect improvements in the coming months. The same number of respondents report a decrease in revenue as before (43% vs. 42%), but expectations have noticeably worsened (33% vs. 26%). The personnel policy of SMEs has also changed – in the coming months, business plans to lay off employees more often (8% vs. 6% in August) and hire less often (16% vs. 22%).

This result is explained by a slowdown in investment activity in the sector – after a historical maximum in August, the indicator returned to the July level. In September, companies already reported on investments in business (21% versus 23%), a quarter of respondents are ready to invest in the future (previously 30%). Only the loans component continued to show positive dynamics — the share of entrepreneurs who received loans is growing against the backdrop of low lending rates and preferential programs. In particular, the Central Bank announced an increase in foreign currency lending to SMEs in August. However, if until now business has been actively involved in import substitution, now entrepreneurs are concerned about the possibility of continuing work in the face of mobilization and all sorts of delays in obligations.

Diana Galieva