To enhance entrepreneurial activity in Russia and to increase the visibility and accessibility of support to SMEs, the Joint-Stock Company Russian Small and Medium Business Corporation (RSMB Corporation) was established in 2015. There are five main activity areas: (i) Providing better access to procurement of companies with state ownership, (ii) SMEs financing support including loans and guarantee support, (iii) Information and marketing support, (iv) Property support, and (v) Legal support.
A 10% quota for procurement from SMEs was established by law for the companies with state ownership, which is monitored by RSMB Corporation. As the result, product range of state-owned companies available for SMEs has increased by 26 times.
National Guarantee System (NGS) based on 3-level model of MSME credit guarantee support was established. If the companies have projects in priority sectors of Russian economy, RSMB Corporation implements a special Program that fixes interest rate on loans amount from 740 thousand USD at 11% for small companies and at 10% for medium-sized companies.
Due to the specific features of Russian SMEs and short history of private business in Russia there was specially designed Business Navigator - a web tool for businesses. Its goal is to help the entrepreneur to find the proper location and the proper type of business to start and where to address to receive information, finance, property and legal support.