Promsvyazbank, in partnership with the Association for Small and Medium Enterprises and the Center for Analysts, released its findings on the status of startup companies and small and medium-size enterprises (SME) in Russia.

Using data collected in November, the study was able to find the prime demographics of entrepreneurs and their socioeconomic status. The study also was able to pinpoint problems faced by aspiring entrepreneurs and what types of challenges they face.

Researchers were able to determine what programs initiated by the government could potentially help startups and SMEs be successful in the uncertain economic climate of the federation.

Study organizers encourage policymakers in Russia to consider the data of the study to help assess current programs and programs that are being planned.

Startups and SMEs are gaining traction in many countries within the Commonwealth of Independent States, especially in Russia.