Cheap credit dispersed SMEs – Kommersant

Small and medium-sized businesses continue to increase business activity in the summer months, according to the RSBI index (calculated by PSB, Opora Rossii and NAFI based on a survey of 1.8 thousand companies). In July, the indicator again reached its maximum values ​​and amounted to 57.1 points. Small businesses showed optimism throughout 2023 (55.3 points in June, 53.7 points in May, 54.1 points in April) due to improved sales situation against the background of growing consumer demand and the availability of loans to SMEs.

In July, sales grew at 19% of enterprises (against 19% in June), while their reduction was reported by 31% of SMEs against 34% a month earlier (now the figure is at its lowest level since 2018). Improvement in the situation with revenue gives entrepreneurs hope for further growth in sales – the share of optimists has grown from 28% to 34%. The situation with credit availability for SMEs also developed comfortably in July – satisfied demand for loans reached a record high of 31%.

All this influenced the plans of small companies to increase investment activity and expand the staff. The share of SMEs that have increased investments in business increased immediately by 5 percentage points, up to 24%, and there are more people willing to invest – 31% against 25% in June. Accordingly, the need to expand hiring for new tasks has grown – from 24% to 36%. The implementation of plans is hampered by a shortage in the labor market and the inability of SMEs to compete with large companies – 13% of SMEs hired new employees against 12% in June.

According to analysts, business activity grew in all business segments – outstripping growth shows small business (62.2 points). In the sectoral context, the service sector and trade continued to grow, however, in production, the peak has been passed – the situation with personnel is hindering the development. “During the period of growth, high expectations are quite justified, since they mainly reflect the views of entrepreneurs on the near future and the desire for further development,” warns PSB Vice President Kirill Tikhonov. Meanwhile, the increase in the rate of the Central Bank may soon reverse the dynamics – the regulator has repeatedly noted the discrepancy between demand and the possibilities of domestic production. Affordable debt financing stimulated the growth of consumer activity.

Diana Galieva