The Russian government is set to slash rents by 60% for small businesses, the sector worst hit in the credit crunch. The news comes as the mayor of Moscow promises not to close SMEs which can't PAY for their premises during the crisis.
This remedy to encourage small business was tried in Northern Ireland in the 1980s, and it didn't work. This is because operating capital was unable to be obtained unless the government also underwrote all the risks. Where it appeared to work, it simply encouraged a huge amount of corruption.
Brain drain is the West's prime source of inovation, if Russia funds these people then the West is screwed :P
RFXCGZZ 3 years ago
This remedy to encourage small business was tried in Northern Ireland in the 1980s, and it didn't work. This is because operating capital was unable to be obtained unless the government also underwrote all the risks. Where it appeared to work, it simply encouraged a huge amount of corruption.
charlessmyth 3 years ago