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Assessments of the Impact of the Crisis on the Development of Small and Medium-Sized Businesses by the End of 2020: Have the Forecasts of the Beginning of the Year Come True?

Vera A. Barinova – Head of International Laboratory for Research on Sustainable Development Problems Regionalism of the Russian Presidential Academy of National Economy and Public Administration; Head of Laboratory of Innovative Economics of the Gaidar Institute for Economic Policy, Candidate of Economic Sciences (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Xeniya V. Demidova – Junior Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Stepan P. Zemtsov – Director of Centre for Economic Geography and Regionalism of the Russian Presidential Academy of National Economy and Public Administration; Senior Researcher of the Gaidar Institute for Economic Policy, Candidate of Geographic Sciences (Moscow, Russia). Е-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Yulia V. Tsareva – Researcher of the Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia). E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

The current crisis, according to early estimates, affected about 75% of SMEs, however, according to the Unified Register of SMEs, in 2020 the number of SMEs decreased by less than 4%, and the number of employees generally increased slightly. However, the turnover of small companies decreased by 3 billion rubles, or 11% at current prices, and the turnover of medium-sized companies increased by 1.4 billion rubles, or 23%, including due to an increase in the number of medium-sized companies. This can be explained both by statistical features and the impact of anti-crisis measures.

The real consequences of the crisis will be known only by the end of 2021. Due to the features of the selection criteria (OKVED codes, the register of SMEs), support measures did not always reach the target audience; individual companies adjusted their OKVED code to receive support. The measures in demand were not large enough in comparison with more developed countries. In the future, it will be necessary to introduce a more differentiated approach when applying restrictive measures. It is necessary to extend and expand the ways of supporting SMEs amidst maintaining anti-epidemic restrictions.

The article was written on the basis of the RANEPA state assignment research programme.

Key words: small and medium-sized business, support, business environment, corona crisis.

JEL-codes: L26, L53.