By Citizen M | Published: December 2, 2009
U.S. National Public Radio has a five minute segment today on the challenges Russian small businesses face in an environment that favours government-dependent organisations:
Not a lot of shockers in here, but just thought I’d draw attention to a couple of things the report highlights:
- Getting a license to open a business should cost about $50 but can easily add up to tens of thousands of dollars due to bribes
- Banks have to turn away potential borrowers because the banks lack the necessary expertise to evaluate the sustainability of a potential borrower’s revenue model.
How is this defensible?