The Ministry of Finance and the MAYOR have begun work on increasing the revenue threshold for SMEs

The Ministry of Finance and the Ministry of Economic Development of the Russian Federation are working on increasing the revenue threshold for small and medium-sized enterprises (SMEs). This was announced on May 19 by Finance Minister Anton Siluanov.

"The revenue threshold [should be increased] from 2 to 3.5 billion rubles and the number of employees from 150 to 525. <...> We have been working on the issue together with the Ministry of Economic Development and are ready to support this proposal here," he said during a meeting of the government commission on SME development chaired by Russian Prime Minister Mikhail Mishustin. His words are quoted by TASS.

Irina Amosova, co-founder and CEO of Estilab Rus LLC, in turn, noted that the company's development is hampered by the lack of support measures after exceeding the revenue threshold for SMEs. Against this background, she asked Mishustin to consider developing support measures for those organizations whose revenue exceeds the threshold for SMEs.

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Earlier during the meeting, Mishustin announced that the government of the country had allocated 1.5 billion rubles to support the entry of small and medium-sized domestic businesses into foreign markets. He stressed that the Russian government will continue to develop the infrastructure to support SMEs in the regions of the state.