Within the past few quarters, the Russian Economy has grown rapidly slower than its preceding estimates, showing a nearly four times exaggeration in the actual versus the estimated. This is clearly a problem, and one of which Alexei Beltyukov, Advisor of the Skolkovo Foundation, has weighed in on.
The Russian market has been damaged since the Ukranian struggle beginning in early March. One of the most recognizable effects of this is the ruble losing 9% against the dollar, which served to greatly increase the cost of imports. This, however, is just the next step in a long string of examples of Russias slowing economy that has been falling for the past four years.
According to Angel.co, Alexei Beltyukov, however, offers financial wisdom in hopes to held turn around the economy of Russia, and he hopes it helps very quickly. He says that in order for Russia to reestablish itself as an economic power, it needs to emphasize the entrepreneurial spirit.
Alexei believes that the central government needs to work very hard to support small businesses that are currently struggling to grab a foothold in the failing economy. Only through small businesses, Beltyukov says, will the Russian economy find prominence again.
Alexei Beltyukov has experience in the matter, as he is a recognize entrepreneur and philanthropist. He started his company, Edemic Capital, in 2013 to aid in what he sees as the revitalization of the Russian economy. They provide support for small start-ups and businesses in the way of guidance or monetary relief.
In addition, the company supports those seeking to attend business school. In addition, Beltyukov works with the Russian government to provide economic support through the Skolkovo Foundation, on which he is Vice President. This foundation provides support through grants to technology start-ups. His actions follow his belief that small business will rebuild Russia.