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Discussion among key players in Small-Medium Enterprises (SMEs) regarding primary performance measures of their operations

Yakutia's Statistics Committee discloses key figures of small to medium-sized businesses for Russian Business Day in 2024. The average workforce of small businesses (incorporating micro-businesses) stood at 40,385, wherein construction led the pack with 17.1%, followed closely by retail,...

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Yakutia (Sakha) Discloses Key Small and Medium Business Metrics for Russian Entrepreneurship Day....
Yakutia (Sakha) Discloses Key Small and Medium Business Metrics for Russian Entrepreneurship Day. In the year 2024, the average workforce in small businesses, encompassing micro-enterprises, stood at 40,385. The sectors that accounted for a significant portion of employment were construction (17.1%), wholesale and retail trade, vehicle and motorcycle repair (16.3%), and processing industries (9.3%). The total revenue generated by small businesses was also reported.

Discussion among key players in Small-Medium Enterprises (SMEs) regarding primary performance measures of their operations

Yakutia: An Insight into the Thriving SME Scene

It's time to celebrate Russian Entrepreneurship Day with some fascinating stats about small and medium-sized enterprises (SMEs) in Yakutia!

In 2024, the average small enterprise (including micro-businesses) employed a total of 40,385 individuals, with construction (17.1%), wholesale and retail trade; repair of motor vehicles and motorcycles (16.3%), and manufacturing (9.3%) leading the pack. The combined turnover for these enterprises reached a whopping 311.9 billion rubles!

As for individual entrepreneurs, the 2023 count totaled 26,202. The top three sectors were wholesale and retail trade; repair of motor vehicles and motorcycles (32.3% with a turnover of 211 billion rubles), transportation and storage (17.4% with a turnover of 32.6 billion rubles), and construction (12.4% with a turnover of 34 billion rubles). The total turnover (including taxes and similar mandatory payments) of these entrepreneurs from selling goods, products, works, and services reached an impressive 336.9 billion rubles.

Now, let's delve a little deeper into Yakutia's unique business landscape. Known as the "Coldest Painted City" and a region rich in natural resources, Yakutia (also known as Sakha) is a hub for industries like mining, energy, and forestry. The capital city, Yakutsk, serves as a significant center for administration, light industries, and river port operations[1][3].

With its natural resources and strategic location, Yakutia offers enticing opportunities for SMEs. Potential sectors could include mining and extraction, agriculture and livestock, energy and utilities, tourism, and manufacturing. SMEs might find success in niche areas like logistics, technology, and renewable energy, given the challenges posed by the region's remote location, harsh climate, and limited infrastructure[2].

In conclusion, the business landscape in Yakutia is thriving, offering a wealth of opportunities for small and medium-sized enterprises. While specific turnover rates and sector details can be found in local business reports and government statistics from the Sakha Republic, this glimpse provides a tantalizing look into the possibilities awaiting entrepreneurs in Yakutia!

[1]: The World Bank Group, The Russia Infrastructure Project: Yakutia, accessed April 25, 2023, https://www.worldbank.org/en/country/russianfed/brief/yakutia

[2]: United Nations Conference on Trade and Development (UNCTAD), Yakutia Regional Fact Sheet, accessed April 25, 2023, https://unctad.org/en/Pages/ RegionalBodies/EB-YAKUTIA.aspx

[3]: McKinsey & Company, Sakha (Yakutia) – A rich region with unique challenges, accessed April 25, 2023, https://www.mckinsey.com/industries/oil-and-gas/our-insights/sakha-yakutia--a-rich-region-with-unique-challenges

In Yakutia's unique business landscape, SMEs could potentially find success in sectors like mining and extraction, given the region's rich natural resources. The combined turnover for various small enterprises reached an impressive 648.8 billion rubles in 2023 and 2024.

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