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The losses of small businesses from the pandemic were estimated at 1 trillion rubles

The losses of small businesses from the pandemic were estimated at 1 trillion rubles
Photo: pixabay.com

Losses of small and medium-sized businesses from the pandemic were estimated at one trillion rubles at the end of the year. The greatest damage was received by enterprises in the service sector, catering and trade.

This is reported "News" with reference to the president of the business association "Support of Russia" Alexander Kalinin. He added that small and medium-sized businesses make up about a fifth of the Russian economy, so the losses will amount to about 0,9% of GDP. However, for the most affected areas, the figure will be higher.

Kalinin added that SMEs now do not have such resources as before the pandemic began, and if a second lockdown occurs, then small and medium-sized businesses will never be able to recover from this.

Largest drop in entrepreneur income recorded by experts in Russia over the past 16 years. Among the Far Eastern regions during the pandemic, the Amur Region had the worst result: the losses of entrepreneurs exceeded profits.

At the end of the summer, experts estimated the level of mutual assistance of business in a crisis. SMEs have launched many projects to support more severely affected colleagues.

December 1: current information on coronavirus in the Far East
Digest of regional events and latest statistics