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Number of SMEs in Russia’s IT sector up 15% in one year — ministry

In particular, 183,000 small and medium-sized enterprises, specializing in software development, operate in Russia

MOSCOW, November 5. /TASS/. The number of small and medium-sized enterprises (SMEs) in the Russian IT sector has reached almost 256,000, the Russian Economic Development Ministry reported. According to data from the Unified Register of SMEs, the number of such companies has grown by 15% over the past year, and by nearly 50% over the last five years.

"There are 183,000 SMEs that specialize in software development. According to an order from the Russian Economic Development Ministry, this activity is classified as a distinct creative industry. Its GVA (gross value added - TASS) amounts to almost 3.248 trillion rubles. This sector also holds significant potential for expansion to the markets of BRICS nations, the CIS, and the Asia-Pacific region. Meanwhile, software is not merely a product of intellectual activity, it is also an enabling technology that fosters the development of the entire sector and related industries," the ministry said.

Another 73,000 small and medium-sized enterprises operate in the areas of data processing, portal maintenance, and consulting and information services. This is one of the most profitable areas in the SME sector as the annual revenue of these companies has grown 2.4-fold over the past five years.

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