Head of SimpleFinance told about basic MSE drivers at MFO RUSSIA FORUM 2019
On September 26th, 2019, Alexei Basenko, General Director of SimpleFinance, the largest FinTech creditor of MSEs in Russia took part in MFO RUSSIA FORUM 2019.
At the strategic session Basenko made a report on basic growth drivers of small and medium-sized businesses in Russia.
“The development of small and medium-sized entrepreneurship (MSE) – is one of the main growth strategies of Russian economy. And so, the adoption of a number of initiatives and bills should drive up the MSE share. A growth factor will be to reverse line of thinking of the new generations, – Alexei Basenko started his presentation.
According to the speaker, at present the market environment is determined by MFO, banks and crowdfunding platforms. And MSEs are the most demanding FinTech customers. In the perception of Alexei Basenko, FinTech entry in SME is at the high level in our country. The most important role here is a proactive position of the regulator, which allows the sector progresses faster as compared to foreign markets.
Alexei Basenko noted that as to credit transactions a risk carrier is not a MSE customer, but medium, big businesses and the state. And what we need here is to provide borrowed funds in a responsible manner in order to stimulate business growth. He emphasised that MSE level of financial awareness is one of risk factors.
“To increase MSE support providers’ list at the domestic level, make it easier (cheaper) for companies to approach public capital market as well as to improve investment environment are the key factors for MSE successful development”, – Alexei Basenko summed up.
For reference: