The number of the self-employed entrepreneurs in Moscow almost reached 398 thousand

The number of self-employed entrepreneurs in the Russian capital grew by more than 28 thousand, or by 9% based on the results of 11 months of 2022 year, as the Deputy Mayor of Moscow for Economic Policy and Property and Land Relations Vladimir Efimov announced.

«From January till November 71,2 thousand new individual entrepreneurs were registered, and 43,5 thousand were liquidated. This type of business is becoming more and more popular: during the last five years number of this kind of companies grew by 40%. A wide list of support programs, comfortable digital services and easy document management encourage people to get involved in business activity. Moreover, these enterprises are mostly focused on local market, and the fact that some foreign companies have left our market in 2022 year might be an additional impulse for their development», - said Vladimir Efimov.

Commerce is the most popular area among self-employed entrepreneurs.

Almost 30% of the individual entrepreneurs in Moscow work in the commerce segment, 17% work in construction, 9,6% operate in consulting, IT-industry accounts for 5,7% of all self-employed entrepreneurs in Moscow and manufacturing sector accounts for only 4,5%, the Department of Economic Policy and Development of Moscow announced.

The highest increase of the number of individual enterprises in 11 months of 2022 was also recorded in the commerce – by 18%. Number of self-employed entrepreneurs in construction grew by 7,1%, in consulting – by 4,1%, in IT-section – by 5,8 and in manufacturing – by 7,3%.

Moscow strongly supports small enterprise in conditions of sanctions. This helps self-employed entrepreneurs to minimize risks and to avoid shutdowns. In particular, food service, innovation projects, taxi and car sharing, food and import-substitution productions are among those who can count on the government support. Apart from the industry measures, self-employed entrepreneurs can also enjoy other tools to overcome the crisis: subsidized loans, grants, deferral of payments and other preferences.