Russian President Speaks For Creating Legal Framework For Small Business

President of Russia Vladimir Putin speaks for the creation of the legal environment for small business. At a session of the State Council devoted to the problems of small and medium business, the President stressed that there is no framework law at the federal level to protect small business. According to Putin, state support of small business means, first of all, "the formation of a qualitative and efficient legal environment." The President said that the second problem was to improve the legal base of small business supervision. In this field, there must be no place for lawlessness," which is encouraged by "inaccuracies and gaps in legislation," Vladimir Putin said. The President referred to lower taxes and an easier system of their levying as the third problem of small business. He explained that frequently people with no special education engage in small business and it is difficult for them to understand the details of accounting. Vladimir Putin also said that it is necessary to improve "the initial conditions to start up small business, and ensure its access to credit and financial resources. In the President's opinion, it is necessary to create "structures to credit and insure the financial risks of small businesses."