Each fifth rouble of small and medium-sized North Caucasus Federal District business was provided with a dominance of 43.3 billion roubles in 2023. It has given impetus to the development of SMEs in all areas, a hotel business is the leader of growth. The number of small and medium-sized enterprises has doubled over the past three years, and the Director-General of the ICP Corporation, Alexander Isaevich, reported to the Caucasus Investment Forum.

" Support provides impetus to SMEs, often becoming the main driver of their development. Each fifth rouble was produced by small and medium-sized businesses, thanks to the dominance of 43.3 billion roubles after 2023, and emphasized Alexander Isaevich. - I'll pay special attention to the tourism sector, the hotel area. Owing to the domination of its employers, it received almost twice as much credit last year, totalling over 1.5 billion roubles. However, the share of investment credit in dominance was almost 80 per cent, and each of these loans was supported by the SME Corporation. "

At present, according to the Director of the SME Corporation, the North Caucasus Federal District is the leader of dominance, accounting for about 18 per cent of the total lending (16 per cent in 2022).

" Thanks, including the domination of the past year, we have recorded positive developments in SCOPE on the number of SMEs. There were over 231,000. This figure was 10 per cent higher than the previous year and 20 per cent higher than the 2020 figure, and underlined Alexander Isaevich. The income of small and medium-sized businesses is also increasing. In 2022, it reached 2.5 trillion roubles, rising by 20 per cent to 2021 and 63 per cent from 2019. At the same time, employment in the small and medium-sized enterprise sector is five times higher than in large businesses. "

At present, Alexander Isaevich stressed that support for small and medium-sized North Caucasus businesses is a priority for the ICP. The main objective, he said, was to trade assistance to small and medium-sized enterprises in the SCFO, with support for State priorities.

It will be recalled that Russian SMEs receive support from the State through the " Maloye and Middle Entrepreneurship " project, which was launched by President Vladimir Putin.