Assessing regional growth of small business in Russia


Abstract

Objective: The objective of the article is to estimate small business development across regions of the Far Eastern District in Russia with regard to economic, social and environmental dimensions of sustainability.

Research Design & Methods: For this, a mathematical model was built. Based on the relationship between the basic indicators of small business development, the growth leaders and laggers among the examined regions were identified.

Findings: The results of modelling suggest that small businesses in the Far Eastern District will not be able to enhance their profitability and offer larger salaries by 2024.

Implications & Recommendations: Hence, one of the major challenges is the search for ways to increase profitability. Emissions from stationary sources per small enterprise will continue to grow during the next 20 years.

Contribution & Value Added: The results of this study may be useful in determining business policy directions, appropriate mechanisms, and parameters to ensure effective business development at the local, regional, and global levels.


Keywords

regional growth; enterprise; entrepreneurship; small business; profit; salary; emissions; performance; model

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Published : 2021-05-31


Mutalimov, V., Kovaleva, I., Mikhaylov, A., & Stepanova, D. (2021). Assessing regional growth of small business in Russia. Entrepreneurial Business and Economics Review, 9(3), 119-133. https://doi.org/10.15678/EBER.2021.090308

Verdi Mutalimov  verdimutalimov@yahoo.com
Federal State Budgetary Educational Institution of Inclusive Higher Education «Moscow State University of Humanities and Economics»  Russian Federation
https://orcid.org/0000-0002-6012-6743
Irina Kovaleva 
State University of Management  Russian Federation
https://orcid.org/0000-0002-6480-824X

Department of International Manufacturing Business


Alexey Mikhaylov 
Financial University under the Government of the Russian Federation  Russian Federation
https://orcid.org/0000-0001-7296-1597

Research Center of Monetary Relations


Diana Stepanova 
Plekhanov Russian University of Economics  Russian Federation
https://orcid.org/0000-0002-2254-2818

Department of Finance and Prices






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