33 Thousand New Entrepreneurs Registered in Moscow in January-May
The number of private entrepreneurs in Moscow is on the rise.
In the first five months of 2019, 33 thousand new entrepreneurs were registered in Moscow, representing a 12.5% year-on-year increase. As of June 1, the total number of Moscow's private entrepreneurs is 336.9 thousand.
The overall growth of the city's economy drives small business success. Private entrepreneurs provide numerous B2C services and are especially active in the retail and catering industries.
Another contributor to entrepreneurial growth is the national project “Small and Medium Entrepreneurship and Support for Individual Entrepreneurial Initiative.”
The Moscow government has created a system of preferences for private entrepreneurs that includes direct financial support, reduced lease rates, transparent access to public procurement contracts, and information campaigns. First-time registered entrepreneurs are exempt from taxes for two years.
The Small Business of Moscow offers a wide range of workshops and events for local entrepreneurs, who can also receive free consultations in one of 15 business services centers throughout the city. Consultations are also available by phone and online at mbm.ru.
18 july 2019