On the Development of Enterprises and Entrepreneurship in Modern Russia

This paper assesses enterprise and entrepreneurship development in contemporary Russia based on Rosstat data and employs graphical and econometric analysis. It has been established that the main trend in enterprise development in contemporary Russia is a decline in the number of enterprises, including small businesses, and a reduction in the number of employees, including small businesses. At the same time, an increase in the return on enterprise assets is observed. However, the return on enterprise assets is significantly lower than the key rate of the Central Bank of the Russian Federation. This ratio of return on assets to the key rate of the Central Bank of the Russian Federation determines the inefficiency of investing in enterprise development from the perspective of independent investors. This creates conditions for a contraction of the production sector of the economy and an increase in the scale of non-production operations of the financial sector, increasing the effectiveness of rent relations. At the same time, the increase in the number of individual entrepreneurs cannot have a significant impact on production due to the limited scale of this type of entrepreneurship. To overcome the problems that are driving the decline in enterprise operations, which poses the threat of economic recession, it is necessary to change monetary policy and create conditions for effective investment in the development of modern production.