The number of small and medium-sized enterprises has grown in Moscow

In Moscow, 772.8 thousand small and medium-sized businesses (SMEs) were registered in seven months. This is 6% more compared to the same period in 2021, reported in the press service of the city hall. According to her, the number of individual entrepreneurs has increased most noticeably.

416.5 thousand companies and 356.3 thousand individual entrepreneurs were included in the register of SMEs in Moscow. Compared to August last year, the number of legal entities increased by 2.1%, and individual entrepreneurs – by 11.1%. The number of people employed in the SME sector also increased by 8%, to 3.2 million people.

“At the same time, the number of employees of both legal entities increased by 7.8%, and individual entrepreneurs increased by 11.6%,” said Vladimir Yefimov, Deputy Mayor for Economic Policy and Property and Land Relations.

The mayor’s office said that most of the SMEs were created in the field of trade – more than 233.8 thousand or 30.1% of the total. About 102.6 thousand of such enterprises or 13.3% are involved in professional, scientific and technical activities, 72.5 thousand or 9.3% are involved in real estate transactions. The top 5 most popular industries also included construction and activities in the field of information and communications; in general, these areas account for almost 70% of small and medium-sized businesses in the capital.

The most popular among legal entities are wholesale trade, real estate, and construction. Retail trade, real estate transactions and the transport sector are popular among individual entrepreneurs, the mayor’s office added.

March in Moscow created a special commission to monitor and support the economic situation. In the same month, Mayor Sergei Sobyanin presented a plan to support business: the affected enterprises and organizations were given a delay of up to six months on rent payments, a moratorium was introduced for a year on increasing rental rates for land plots and non-residential facilities. Moscow authorities at the end of the year expect the decline of the city’s economy by 3-4%.

Laura Keffer