Prominent Entreprenuer Offers Advice to Russian Government On How To Tackle The Economic Downturn

After the recession of 2008, the economic recovery of Russia continues to face increasing economic and political challenges. Perhaps, the most recent challenge is the Crimean issue that has put significant roadblocks for entrepreneurs in Russia.

For instance, in 2014, the Russian Finance Minister, Anton Siluanov, predicted that the Russian economy will show “zero” growth in the near-term. His predictions were true as Russia continues to suffer from the after-effects of sanctions on its trade and its political involvement in different regions around the world.

In these circumstances, Alexei Beltyukov, the well-known Russian entrepreneur and philanthropist suggests that a plausible method to recover from the economic hardship is to entertain and help budding entrepreneurs in the country. He claims that it is import to sustain the local economy instead of looking for help from outside.

In fact, helping young entrepreneurial and startups will encourage cash flow from rich Russians to skilled Russian workforce that needs the capital. The claim makes sense because a lot of skilled Russian are reported to leave for Latvia and Bulgaria, where they are finding jobs in the technical and computer software industries.

Perhaps, Alexei Beltyukov is the right person to ask for the advice because he is one of the most prominent entrepreneurs in Russia who has dedicated himself to helping new and existing businesses in the country. Among his many interests is A-Ventures Ltd, which helps Russians get funding and practical guidance for their business.

Likewise, he is actively involved in Skolkovo Foundation, which provides economic guidance to the Russian government. In fact, Alexei Beltyukov also oversees scholarship funding for Russian students who attend INSEAD, one of the most famous business schools in the world.

Managing Skolkovo Foundation, Alexei Beltyukov provides consultation services, business strategies, technological incubation and tax breaks for Russians. According to independent estimates, funding from the organization has resulted in more than 13,000 jobs from nearly 1,000 different ventures.

As such, he is actively focusing on encouraging Russian government to foster the environment of entrepreneurship by developing public-private partnerships.