Microenterprise in Russia During Its Economic Transition, 1991-1993
Author: TERRY F. BUSS and LAURA C. YANCER
Published in IJED, Vol. 1 No. 2
Small business formation and development during Russia’s transition from a centrally-planned economy under totalitarianism to an unregulated economy under democracy has not been widely studied. This study looks at entrepreneurs who started microenterprises in Nizhny Novgorod, Russia, during 1991 to 1993, the early years of transition to determine their need for capital and technical assistance. Study findings suggest that these fledgling capitalists could have used loans from microcredit programs, if not small business loans from banks. But, these entrepreneurs had little need for technical assistance for any aspect of their business. Rather they preferred and had access to private accountants, business assistance and legal advice.