Development of small entrepreneurship in modern Russia

Abstract

Aim. The work aimed to identify the main problems and aspects of small entrepreneurship development in modern Russia.
Objectives. The work seeks to analyze the current state of small business development; reveal the key problems and features of the development of small and medium-sized business entities (SMEs) in Russia; identify the functions and main differences between small entrepreneurship and medium-sized and large businesses; reveal the content of new national projects and initiatives for state support of small businesses.
Methods. The authors used general scientific methods (analysis, synthesis, systematization), as well as institutional and comparative approaches, to substantiate the provisions and conclusions. 
Results. The article analyzes the key problems and aspects of the development of small businesses in Russia. The authors revealed that the latter face a number of challenges. The most significant of them are limited access to financial resources, including difficulties associated with raising of credit funds due to high interest rates and complex collateral security requirements; difficulties in overcoming bureaucratic obstacles; a high level of competition from large corporations with significant financial and technological resources.
Conclusions. The authors came to the general conclusion that small businesses contribute to the creation of a competitive environment and are flexible in accordance with market changes; they perform an important social function, absorbing surplus labor and thereby contributing to the expansion of employment. Small businesses optimize the use of local resources, increasing their economic efficiency.