DOI: http://doi.org/10.15350/2409-7616.2020.3.29

Dmitry V. Zyablikov –PhD in Economics, Associate Professor of the Department of Theoretical Foundations of Economics, Siberian Federal University, Krasnoyarsk, Russian Federation, E-mail: rewtyu@mail.ru

Inessa O. Stepina –Student of the Department of business Informatics, Siberian Federal University, Krasnoyarsk, Russian Federation, E-mail: stepina.nessa@gmail.com

Veronika Y. Eirikh –Student of the Department of economic security, Siberian Federal University, Krasnoyarsk, Russian Federation, E-mail: eirih.verka3@mail.ru

Abstract. The article presents an analysis of the impact of a new coronavirus infection on various areas of business and touches on the need to provide various measures of support from the state. Since mid-March, most entrepreneurs have had to experience difficulties with running a business. Some companies could not adapt to the situation, so they suffered huge losses due to the suspension of operations and were forced to leave the market. Due to untimely state support, many industries have suffered so much that they will need a very long time to recover. That is why business representatives began to actively send requests for easing the tax regime and providing other support measures. But in the current situation, not all business lines were under threat, someone was able to show flexibility and increase their revenue several times. Some industries were able to quickly switch to the production of masks, gloves, and antiseptics, so they were able to save jobs and profits. After the COVID-19 pandemic, many people will change their attitude to business, stop developing only in one direction, because now every entrepreneur has realized that flexibility is one of the most important criteria for survival in the market. The purpose of the study was to analyze the impact of COVID-19 on Russian business and the effectiveness of government support. The analysis is carried out by studying the impact of coronavirus infection on various business areas. The relevance of this topic is to consider the issue of returning to the previous work of the most affected business areas after the smooth removal of restrictive measures. The research uses theoretical analysis, official statistics, and research papers.

Keywords: COVID-19 pandemic, losses, modern business, support measures, subsidies.

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For citation:

Zyablikov D.V., Stepina I.O., Eirikh V.Y. The impact of the covid-19 pandemic on Russian businessand the need for government support. CITISE, 2020, no. 3, pp.332-342. DOI: http://doi.org/10.15350/2409-7616.2020.3.29