The Number of New Businesses Opened in the rf Has Fallen to Its Lowest in 14 Years

russia has seen the lowest number of new companies opened in the last 14 years. In 2025, only 173,000 legal entities were registered, which is by 20% fewer than a year earlier. In parallel, the number of liquidations rose sharply to 233,000 companies, meaning that by a quarter more businesses closed than opened.

The construction, development, retail, and intermediary services sectors were hit the hardest. Profitability in these sectors fell sharply due to expensive loans, reduced demand, and curtailment of investment programs. Additional pressure was created by the growth of insurance premiums, an increase in the disposal fee, and a decline in the consumer sector, especially in offline trade and the automotive business.

Systemic problems in the economy only exacerbate the negative dynamics. Businesses are facing tough fiscal policy, tighter tax controls, and a campaign against the “fragmentation” of companies. Banks, for their part, are restricting lending amid high key rates, while non-payments by large customers and government agencies are increasingly leading to cash flow gaps and bankruptcies. Legal entities are disappearing en masse, giving way to more primitive and vulnerable forms of entrepreneurship, which are chosen not for development but for survival.

In 2026, a further reduction in the number of legal entities, market consolidation, and an increase in the role of state control are expected. Even a possible reduction in the key rate, predicted by the rf central bank’s forecasts, is unlikely to remedy the situation: the economy remains depressed, the investment climate is toxic, while entrepreneurial initiative is systemically suppressed.