In 2023, the authorities more actively supported small and medium-sized manufacturing companies

In 2023, the authorities supported small and medium-sized manufacturing companies more actively than before, as follows from statistics from the SME Corporation. Data for nine months record both an increase in assistance under general support programs and an increase in the use of new measures aimed at priority sectors. In particular, the volume of financial state support for manufacturing SME businesses increased by 84% during this period. This allows us to talk about state assistance to small and medium-sized manufacturing companies, in which the authorities see assistants in achieving import substitution accelerated by sanctions.

According to data from the SME Corporation provided to Kommersant, in the first nine months of the year the authorities began to provide more assistance to small and medium-sized companies engaged in production. That is, as noted in the corporation, those who are trying to replace goods and brands that have left the Russian market. Such companies were more actively provided with support within the framework of the financial programs of the national project for the development of SMEs – we are primarily talking about preferential loans, guarantees from the SME Corporation and regional guarantee organizations. Year-on-year in January-September, the volume of such state support for equipment manufacturers increased by 136%, to 30.3 billion rubles, food products – by 47%, to 60.8 billion rubles.

In general, the amount of financial state support for manufacturing SMEs increased during this period by 84% and amounted to 364 billion rubles.

Let us recall that the start of the military operation and sanctions intensified the efforts of the authorities to import substitution of products using SMEs – the conditions for providing assistance to the sector were described in such a way that those who are potentially able to replace foreign suppliers could apply for it.

One of the key programs for small and medium-sized companies was the combined program of preferential investment lending (Lending Incentive Program (LCP) plus “Program 1764”, more details see “Kommersant” dated July 14, 2022). Over ten months, 950 enterprises received loans worth 92.5 billion rubles. SMEs engaged in manufacturing were more active than others in attracting funds: in January-October, support amounted to more than 53 billion rubles. 670 such companies received almost 26.6 billion rubles more. received 162 enterprises operating in the field of transportation and storage.

Manufacturing industries have also become the absolute leader in terms of the volume of lending under the PSK, within which enterprises raise funds for investment purposes—in ten months, such companies out of the allocated 198 billion rubles. received 78.5 billion rubles. Significant amounts of funds were also attracted by trading enterprises (38.5 billion rubles) and companies operating in the field of transportation and storage (36.2 billion rubles).

The concentration of state support on manufacturing SMEs, which is recorded by statistics, is explained by the desire of the authorities to scale up companies that ensure the achievement of the goals of import substitution, and in the future, the growth of innovative activity. Although the need for such a reorientation of assistance became clear immediately after the start of the military operation, the task was clearly formulated only in 2023 – during the discussion of the future national project on SMEs. The priorities were clarified by First Deputy Prime Minister Andrei Belousov in October at parliamentary hearings in the State Duma: the new strategy for the development of the sector involves assistance specifically to manufacturing, not trading companies (see “Kommersant” dated October 24).

Kristina Borovikova