Russia to Support Family-Owned Businesses
On October 22, the State Duma adopted amendments to the law on the development of small and medium-sized business in Russia at the first reading.
Consensus
- The State Duma approved amendments in first reading to the law on small and medium-sized enterprise development.
- The amendments aim to classify family-owned microenterprises as social enterprises.
- Family-owned microenterprises must have at least 50% of workers or members as relatives.
- The list of eligible family members includes spouses, parents, children, siblings, grandchildren, grandparents, and adoptive parents and children.
- The legislation allows state and local authorities to provide support to such enterprises.
- The law applies only to microenterprises with no more than 15 employees and annual revenue not exceeding 120 million rubles.
Points of divergence
- The law proposes to include family business as social enterprises without specifying a maximum number of employees or annual revenue limits. — fontanka
- The initiative was introduced by the United Russia party, with Vladimir Yakushev as one of the authors. — vedomosti
- The explanatory note states the measure will support employment, business resilience, and national development goals. — fontanka
- Alfiya Kogogina, deputy chair of the State Duma committee on SMEs, emphasized the economic importance of SMEs, citing 30 million jobs and 22% contribution to national wealth. — vedomosti
Coverage (2 sources)
- Family business designated for state support. Amendments adopted in first reading — Фонтанка
- State Duma approved the bill on support for family business at first reading — Ведомости