/ News

Now we need to support business in an effort to develop, but not to wind down - expert

2nd of September 2013

The President of the Russian Microfinance Center, a member of the Board of Russian Chamber of Commerce, vice-president of “OPORA RUSSIA” Mikhail MAMUTA has given a new interview to the Federal portal for small and medium sized enterprises

Perspectives and problems of microfinancing in Russia, the end of the grace period for insurance premiums benefits provided to the payers of Simplified Taxation System in 2013. These issues were discussed in an interview with the President of the Russian Microfinance Center, a member of the Board of Russian Chamber of Commerce, vice-president of “OPORA RUSSIA” Mikhail MAMUTA to the Federal portal for small and medium sized enterprises

First of all, microfinancing is important for start-ups and for the countryside. “According to international experience, it is the most effective tool to support start-ups,” - said the expert. Microfinance organizations are willing to extend credit to borrowers with zero experience or with one-two months business experience, i.e., at a stage when the bank cannot yet provide a loan.

The banking infrastructure in the small towns and villages is often absent or very poorly represented. Thus, microfinance services here, according to Mikhail MAMUTA, “are in fact, acting as legal lenders on the territory, where today “under-the-counter” practices are widely used”.

The Ministry of Economic Development and Vnesheconombank are steadily increasing the amount of microfinance state support and, according to the head of the Russian Microfinance Center, it is important to ensure low rates. Today the rate for entrepreneurs varies from 8 to 19% per annum.

It is important to remember that microfinancing of business can be successfully applied to various specific problems faced by the state. An example of this is the support of small businesses in Krymsk by micro-loans, which was “the only force able to quickly restore supply and quickly ensure provision of priority goods”.

Second example: the decision to grant interest-free micro-loans to small business in 2013 to pay insurance premiums. These loans will be granted through regional microfinance centers until 2014 when the new rates are in effect. They “in fact, they will be directed to installment payment of the insurance premium for another year. Thus, the load is distributed more evenly,”- said the expert.

Special attention in the interview was paid to the problem and the possible consequences of the end of the grace period for insurance premiums benefits provided to the payers of Simplified Taxation System in 2013.

 “Now we need to support business in an effort to develop, not to wind down, but invest. Through this support we can ensure additional economic growth and address social issues related to social employment”, - said Mikhail MAMUTA.


The video record of the interview can be found in the “Photo / Video / Audio” (Russian Version of the web portal).