Family Business: Forming the Values of New Time, Preserving Traditions

Venue: Kazan Expo International Exhibition Centre, Business Opportunity Hall 8

Time: 11:40–13:00

Moderator: Elena Dybova, Vice President of the Chamber of Commerce and Industry of the Russian Federation

Speakers:

Adham Ikramov, Minister of Youth Policy and Sports of the Republic of Uzbekistan;

Svetlana Orlova, Auditor of the Accounts Chamber of the Russian Federation;

Alexey Shashkin, Director of the Small and Microbusiness Division of Sberbank PJSC;

Aiduganov family, owners of “Engineering and Production Centre” LLC;

Izukov family, owners of “NPP Powder Technologies” LLC.

Small and medium-sized family businesses employ almost 70% of the working population worldwide. Family entrepreneurship ensures a stable socio-economic situation, promotes self-realization in business and entrepreneurship spirit of people. The establishment of an optimal working environment for family businesses contributes to their legalization and withdrawal from the realm of informal economy, which, in turn, makes it possible to achieve the growth of entrepreneurial activity, bring extra funds to the regional budgets, as well as provide social guarantees to family enterprises.

The Vice President of the Russian Chamber of Commerce and Industry Elena Dybova said that successful family companies form the backbone of any economy. By way of example, 80% of companies are private-owned in such countries as India or China; the UAE in 2023 adopted a law on private business, and defined basic concepts of long-term economic relations. Continuity, mentoring and support are critically important for the development of a family business. In Russia, 74% of private companies are family-owned.

Elena Dybova believes that family business is a powerful economic foundation for the development of business. The CCI of Russia has initiated a law on family entrepreneurship.

The Minister of Youth Policy and Sports of the Republic of Uzbekistan Adham Ikramov is convinced that large and medium–sized businesses should not be prevented from working, and small businesses should be assisted. At present, in order to support small businesses in Uzbekistan, 114 licenses and permits have been abolished, and taxes have been reduced from 13% to 9%. In 2023, operating family enterprises in Uzbekistan account for 59.1%. 91,534 jobs were created during 2022. There has been a 5-fold increase of the number of handcraft centres that reached 68 (including 18 established in 2022). Adham Ikramov suggests foregoing the inspection of small businesses in Russia.

The Auditor of the Russian Accounts Chamber Svetlana Orlova insists that small and medium businesses work much more efficiently, but the problem is that only 25% of small businesses are eligible to bid.

The Director of the Small and Microbusiness Division of Sberbank PJSC Alexey Shashkin noted that there are more than 7 million registered self-employed individuals. 4.6% of people aged 35–45 want to become self-employed workers.

Alexey Shashkin told about “The Credit Potential”, a Sber product that shows a personal credit limit upon the client’s request. “The Instalment Plan for Business” service offered by Sber to big clients can be used to get a 30-day interest-free loan. Currently, 170 thousand entrepreneurs use this service.