PROBLEMS OF DEVELOPMENT OF SMALL AND MEDIUM-SIZED BUSINESSES IN RUSSIA, THE NECESSITY AND ESSENCE OF INSTITUTIONAL TRANSFORMATIONS

Aim. To analyze the state of small and medium-sized entrepreneurship in Russia, to research the problem of its development and the necessity and essence of institutional transformations.

Methodology. The research of economists, regulatory and legislative documents, analysis of statistical data, observation, comparative analysis, induction and deduction methods are used in the work.

Results. Based on the analysis of small and medium-sized businesses in Russia, the role of the state in its support is revealed, especially during the Coronavirus pandemic and economic sanctions. The necessity of carrying out institutional transformations for the further development of SMEs, such as: increasing the prestige of labor, including entrepreneurship, strengthening private property rights, shifting the priority of interaction between small and medium-sized businesses and authorities to the regions, is substantiated.

Research implications. The results of the study contribute to the theoretical understanding of the processes taking place in small and medium-sized businesses in Russia, and substantiate the need for its development of institutional transformations.

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