In the first half of 2024, entrepreneurial activity in the Russian Federation increased by 26% compared to last year, and the retail trade sector remained the most popular for everyone who registers their business in Russia, according to a study by IT companies Evotor and Delovaya Sreda.
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According to the study, this year entrepreneurs most often opened specialized grocery stores – 6% of the total number of new businesses, convenience stores – 5% and street food kiosks – 4%. Also popular formats remain: clothing stores, butcher shops, coffee shops, flower shops – the share of each in the new business was 3%.
“Compared to last year, the number of openings of companies providing repair services increased by 3.5 times, alcohol markets by 2.5 times, aesthetic medicine clinics and kitchen stores by 2 times, travel agencies by 1.9 times, medical laboratories – 1.8 times, barbershops – 1.5 times, coffee shops – 1.3 times, flower shops – 1.2 times. Conversely, clothing stores opened 25% less than last year, pet stores – by 31%, shoe stores – by 34%, bakeries – by 43%, vape and electronic cigarette stores – by 50%, and auto supply stores – by 51%. The decline is, of course, due to increased e-com penetration and market saturation in general. And the growth of service sector enterprises is largely due to active development and the emergence of new residential areas,” noted Natalya Sergienko, Marketing Director of the IT company Evotor.
Analysts from Delovaya Sreda said that among those who opened a business in retail trade in 2024, 47% were young people (18–35 years old). Of these, 17% were opened by very young entrepreneurs under the age of 25. At the same time, retail trade has become a leader in all regions of the country.
“According to our business registration and remote account opening service, retail trade showed a significant increase in 2024; Russians opened 40% more such businesses. While in the first half of 2023, the same growth was only 10%. Thus, retail continued to lead the top ten most popular areas for registering a new business in Russia. This year, its share accounted for 32%, in other words, every third entrepreneur started a business to engage in retail trade,” commented the head of Delovaya Sreda JSC, Alexey Grishchenko.
Traditionally, the largest number of new businesses are opened in Moscow (10% of the total number of new businesses), Moscow region (8%), Krasnodar region (5%), St. Petersburg (4%), Rostov region (3%), Sverdlovsk region ( 3%). But in comparison with last year, small businesses showed the greatest increase in openings in such regions as North Ossetia – Alania by 1.2 times, in Sevastopol – by 88%, in Crimea – by 81%, in Chechnya – by 43%, Stavropol region – by 37%, Amur region – by 35%, Chelyabinsk region – by 34%. New businesses are mainly opening in cities and suburban areas; rural areas account for only 18%.
According to Evotor, in the first half of the year, the revenue of small businesses increased on average by 15%, and the average number of sales (receipts) by 2%.
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