Russian Entrepreneurs Improved Financial Performance

18th September 2015

Financial indicators of business improved and entrepreneurs started talking about their companies in a more positive way. This is the main conclusion of a nationwide survey of entrepreneurs conducted by the National Agency for Financial Studies in August 2015.

According to the Head of Direction of Corporate Research of the National Agency for Financial Studies Olga Stasevich, pessimistic business sentiment that dominated in the first half of the year - in March 2015 a survey of entrepreneurs showed deteriorating financial performance of businesses, although forecasts of the situation were optimistic – were determined by ambiguity and vagueness of the future prospects. However, non-critical, according to entrepreneurs and fairly expected developments in the second half of the year laid the basis for more positive assessments.

Today, half the executives report poor financial situation of the company (9% versus 22% in March 2015). At the same time, the share of companies with good financial performance has grown (from 29% to 45%). On average, 42% of Russian entrepreneurs assess financial situation of their company as average (in March 2015 – 48 %).

Complaining about the deterioration of the company’s financial situation have become much less frequent this year (in March 2015, 61% of business executives told about this, and now – 40%). The absence of any financial changes has become more frequently noticed (34% versus 24% in March 2015), and the improvement of business was reported by two times more entrepreneurs (11% in March versus 23% in August).

Forecasts of the situation for the next three years remain generally favorable. Only 8% of respondents expect deteriorating financial situation of the company in three years. 45% and 16% respectively believe in growth and stability.

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