EBRD and Ministry support small business in Russian Far East

By Richard Wallis

Today the European Bank for Reconstruction and Development (EBRD) and Russia’s Ministry of Economic Development launch a programme to help small and medium-sized enterprises (SMEs) access business advice and the know-how of industry experts.

The EBRD supports programmes aimed at helping firms in this sector to become business catalysts that can drive the development of local economies and regions.

Through its Small Business Support team, the Bank connects clients with local consultants and international advisers who can transform their businesses, helping them to innovate and grow.

The new programme focuses on the Southern, Ural, Siberian and Far Eastern Federal districts, and will provide assistance to more than 420 enterprises over the next three years, including 110 in the Russian Far East.

The launch takes place as part of a conference on the role that consultancy can play in supporting SMEs. The forum is sponsored by the EBRD and the Far Eastern Association of Business Consultants (FER ABC).

The one-day conference opens today in Vladivostok, brings together representatives from the business community, local government and other stakeholders, to discuss the trends and challenges facing the consulting industry in the Russian Far East and tools to support further development of the sector.

Since the EBRD began work in this area of Russia in 2003, the Bank’s Small Business Support team has helped more than 450 businesses. The Far Eastern Association of Business Consultants, established in 2012, is a multi-professional organisation that brings together management consulting professionals to promote high-quality and competitive consultancy services in the Russian Far East.