Digital October and SurveyMonkey examine entrepreneurship trends in Russia

November 29, 2012

The Digital October Center For New Technologies and Technological Entrepreneurship and the world leader in online research SurveyMonkey have examined technological entrepreneurship trends in Russia over the next three years.

The survey included 109 Russian companies engaged in technological entrepreneurship, the majority of which operate in the professional services, software development and online application spheres. Over 83% of the companies surveyed have been operating for less than five years, one third of which were founded less than one year ago, and another third 1–2 years ago.

Out of all the startups, 67.3% employ fewer than 10 people, while only seven of the companies surveyed had more than 150 employees. Over 40% of the companies had an annual revenue of up to $50,000, 43% up to $1 million, while 17 companies generated an annual revenue of between $1 million to $10 million or more.

Among others things, the survey revealed the following interesting trends: over 50% of those surveyed were positive about the future development of entrepreneurship in Russia over the next three years, 52% of companies planned to develop their business by launching new products onto the market while 21% planned to enter new markets; 52% of the companies surveyed see potential in developing the B2B segment; the professional services (28%) and the software development (22%) industries offered most potential for new startups.

However, the main conclusion to be drawn from the survey is the confidence of Russian entrepreneurs in their chosen business area: 49% of those surveyed believe that they will play a significant role in the Russian economy in the next three years.

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