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SME Corporation assessed the impact of covid restrictions on business

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SME Corporation assessed the impact of covid restrictions on business

SME Corporation presented a "heat map" of the impact of restrictive measures on business in Russia, which demonstrates which factors contributed to a faster recovery of enterprises from the crisis.

"Those regions where sharp restrictions were adopted without appropriate communication with the business, the turnover of SME companies decreased significantly and it took longer to recover. But in those regions where restrictions were imposed gradually and in constant contact with business, economic activity recovered much faster," the corporation said.

According to its CEO Alexander Isaevich, in those regions where businesses and authorities have acted jointly and with the support of the Ministry of Economic Development and the SME Corporation, the negative effects of the imposed restrictions were avoided. He urged the Chamber of Commerce and Industry, "Opora Russia" and "Business Russia" to get involved in refining the "heat" card. This idea was also supported by Andrey Belousov, the First Deputy Prime Minister.

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Author: Karina Kamalova

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