Support of Business

An infrastructure for support of entrepreneurship has been created in Moscow. This infrastructure ensures required support to business in financial, property, information, consultation, personnel, and other issues.

The support to small business operating in Moscow is provided via the Department for Support and Development of Small Business  of the city of Moscow and by creating an infrastructure that provides support to small businesses.

The list of high-priority areas where support is provided to Moscow-based business includes production and innovations, municipal housing economy, public catering, handicrafts, and youth.

The Department holds contests of innovation projects on the basis of which subsidies are granted in such important areas as overhaul repair of residential buildings in Moscow, waste paper collection, utilities, and functioning of production facilities (technology parks) for small businesses.

The Moscow City Administration focuses on creation of conditions that would attract young workers and students to business.

Beginning 2008, advertising and information support is provided to small businesses. The rates for outdoor advertising and information devoted to such issues are set at a discount 50% level.

An Interdepartmental Commission was established under the Moscow City Administration; the Commission will remove red tape with which entrepreneurs encounter and will harmonize requirements of different authorities.

It is assumed that owing the policy pursued by the Moscow City Administration, by 2025, the fraction of residents employed in small businesses in Moscow will attain 65—70% to reach 4.2 to 5.0 mln people. The development of businesses will significantly better the living standards in the Russian capital, create a sufficient number of highly-paid jobs, and significantly increase tax revenues in the city budget.