Krasnodar, 21 November – Yug Times. Last week, Krasnodar reportedly played host to a business conference “In chase of ‘long-term’ money: problems and prospects of long-term credits for midsize and small businesses” organized by The Yug Times weekly jointly with the regional union of agricultural employers “Agroindustrial Union of Kuban” and the regional branch of the Opora Rossii nongovernmental organization.
According to Deputy Chairman of the All-Russia public organization Opora Rossii Marat Dudarev, it is required that small and midsize business should grow to reach the criteria put forward by investors as a necessary condition to pay out ‘long-term’ money. These criteria are fully lawful work of the potential investees, truthful reporting of their real income in tax reports, and capitalization of earnings in the assets that potentially may be used as pledged property.
Speaking at the conference, Executive Director of the regional union of agricultural employers “Agroindustrial Union of Kuban” Mikhail Bublik noted that the main obstacle for the agricultural producers to receive ‘long-term’ money is their little awareness of the existing support programs for small and middle business offered by the government and banks.
Honoured Economist of Russia Aleksandr Polidi, DSc, stated that Russia has started to live in conditions of European inflation, which is about 4% per annum. This fact allows the Central Bank to decrease the interest rate and make credits, including long-term ones, more affordable. The main rule under such conditions will be low inflation and a possibility of long-term financing, which may be successful only if the entrepreneurs would correctly reckon up their risks, because long-term crediting always means long-term risks.
The participants of the conference — businessmen, farmers and experts — agreed with these conclusions. A number of large banks also showed interest in the discussion. Two commercial banks — Kuban Credit and Centre Invest, as well as the boutique hotel Bristol, and Catering Factory No. 1 sponsored the event.