Number of Entrepreneurs is Increasing in the Novgorod Region

As of 10 January, the number of small and medium-sized enterprises in the Novgorod Region totals to 20,813.

“There are 14,114 individual entrepreneurs and 6,699 legal entities registered in the region. These are the highest figures over the last four years. In 2020, there were 19,865 SMEs in the Novgorod Region. The systematic growth shows that business is resistant to changes and that business support measures are effective. “More and more residents of the region want to connect their lives with entrepreneurship or scale their existing businesses,” Denis Nosachev, Minister of Investment Policy of the Novgorod Region commented.

There is also a positive trend in the development of self-employment in the region. In 2023 the number of self-employment tax payers increased by 52%.

For the country as a whole, the number of individual entrepreneurs and legal entities totalled 6.35 million at the beginning of year which is by 6% more than in the same period of 2022. The number of newly established SMEs was 1.2 million. This is by 17.5% more than in the same period of 2022.

By the end of last year, the number of self-employed in Russia grew by 41% compared to December 2022 and totalled 9.3 million people.

As a reminder, individual entrepreneurs, legal entities and the self-employed persons are supported under the Small and Medium Entrepreneurship Presidential National Project. This year, about 70 million rubles have been allocated in the Novgorod Region for the events of the National Project.