The PSB called for the development of the export potential of SMEs in the Far East

PSB sees great potential in the development of export business of small and medium-sized enterprises in the Far East and the reorientation of export-import flows to Asian countries. This was stated at the WEF by Irina Zhimerina, Senior Vice President and Head of the small and medium-sized business unit of the PSB.

Speaking at the session "SMEs in the Far East: small business — great potential", Zhimerina noted that in comparison with the all-Russian trends, the SME market in the Far Eastern Federal District shows positive dynamics. "We see that all components of the RSBI index are in the growth zone, and we separately highlight the growth in corporate revenue: the key rate does not exert such pressure on it as in the framework of the Russian general dynamics. The personnel figure is also higher than the national total due to government support measures to attract human resources to the macroregion," explained the Senior Vice President of the PSB.

Another positive trend, according to Zhimerina, is that 45% of SMEs are involved in the process of import substitution, replacing the main components that are critical for infrastructure with domestic ones. At the same time, the financial performance of such enterprises is growing, said the senior Vice President of the PSB, adding that nevertheless, the implementation of such projects requires more substantial involvement of the state and large companies.

"The PSB also supports businesses in these processes, and we suggest looking for complementary approaches to their operations. So, we provide entrepreneurs with services that allow them to reduce costs, such as HR records management, accounting, and assistance in entering marketplaces in order to increase the productivity of their business. At the same time, it is necessary to additionally focus on export support and develop both financial and non—financial educational platforms in order to help our SMEs enter the export sector," concluded Zhimerina.