Uncertainty, taxes and burnout worry entrepreneurs in Russia most of all – study

Almost a third of Russian entrepreneurs (28%) are worried about lack of own energy and burnout, according to a survey conducted by EntSpace entrepreneurial platform among 520 owners of SMBs between the ages of 22 and 55.

Entrepreneurs called uncertainty in economy in Russia and the world the main cause for alarm – 46% of respondents complained about it. Among the top-5 alarm sources they also noted a shortage of personnel for business (26%), a shortage of financial resources (27%) and high taxes (29%).

Despite significant uncertainty, more than half of entrepreneurs (57%) plan to open a new business within 1-3 years or scale existing one and a third of respondents expect to grow multiple times over the next two years. Every fifth entrepreneur (19%) is preoccupied with search of partners for joint business development, and every tenth (11%) – with attracting an investor to capital.

The main sources of hope for entrepreneurs are their own ideas and forces (82%), family, team and friends (80%), and development prospects for business in Russia (48%) and abroad (30%).

Entrepreneurs cope with anxiety mostly due to sports and hobbies (53%), training and training (34%), exchange of experience with like-minded people (26%).

One in five business owners (19%) regularly seek help from a psychologist.

“Survey results show entrepreneurs have lost their image of the future. Noting uncertainty as a key factor, they talk about burnout and lack of own energy – and it is lost when understanding of the prospects is not clear, – Alexey Komarov, CEO of EntSpace platform? comments on the results. – Business is trying to rebuild, changing the angle of view and finding a new strategic approach – hence the high demand for training and discussion of problems with like-minded people in the community. Sport, in turn, allows to save the personal resource you need to keep working. Entrepreneurs literally struggle to find ways to develop inside Russia, as well as beyond, trying to find new landmarks of the future.”

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