Growth Barometer 2017 Is it possible to find a point of support for growth in the conditions of constant changes? How Russian companies are implementing development strategies today

Despite some difficulties in the Russian economy, observed recently with geopolitical uncertainties, demographic changes and new technologies, the average business is now much more optimistic about growth prospects. More than two thirds of respondents (70%) expect their business to grow at the level of 6-15% in the coming year, which is much higher than the forecasts of the World Bank, which believes that the growth of world GDP will be 2.7%.

Russian companies have the following objectives as part of the development strategies: entering new geographic markets, acquiring assets and increasing market share, and they expect these objectives will help them to solve such problems as a deficit of available funds or fundamentally new technologies that change the game rules. These conclusions are based on the results of a a new large-scale international survey conducted by EY among medium-sized companies, which account for almost 99% of all enterprises in the market and to which about half of world GDP is accrued.

Both in Russia and in other countries such companies are drivers of economic growth, development of entrepreneurship and innovation. The question is what helps to grow average business. Are there any general rules that all managers should adhere to, regardless of a scale of their activity? In this survey, senior managers of companies with annual revenues of $1 million to $3 billion from 30 countries took part. 60% of the respondents were general directors, founders and managing directors. The survey was conducted from 31 March 2017 to 12 May 2017. Its sampling (2,340 respondents) is representative selection at the country level, which makes the main contribution to world GDP (according to the World Bank data for 2016).

In addition, the finalists and winners of the EY international contest entitled Entrepreneur of the Year took part in the survey. Respondents could answer questions in seven languages, including English and French. In May 2017, respondents were asked clarifying questions, which made it possible to make further conclusions.