The first quarter of 2024 has seen a record-breaking number of individual entrepreneur registrations in Russia, totaling 240,000—the highest figure reported in the last two years.
This significant uptick, documented in a study by analysts from Bank “Tochka” and reported by “Izvestiya”, indicates an increasing trend of Russians choosing to initiate their own businesses. This growth is fuelled by state support for budding entrepreneurs and expanded opportunities afforded by digital technologies. Many have ventured into selling goods online, utilizing various e-commerce platforms available.
The study reveals that from January to March, the number of new registrations exceeded liquidations by 42%. The most popular sectors among new entrepreneurs include wholesale and retail trade, as well as automotive and motorcycle repair, accounting for over 41% of new registrations. Construction ranks second at more than 10%, followed by transportation and storage at 9.4%. Scientific-technical activities and manufacturing industries also show significant engagement, comprising 6.7% and 5.2% of all registrations, respectively.
[Photo: freepik.com]