Experts named industries with fastest growing companies in Bashkiria

Galina Bakhshieva

UFA, 27 September 2018. /Bashinform News Agency, Galina Bakhshieva/ translated by Tatiana Aksyutina/.

In Bashkiria, there are over 150 fast-growing companies - private companies that have been operating in the market for more than five years and have a compound annual growth rate (CAGR) of at least 10% over the past three years. Such data are given by the Institute for Strategic Studies of the republic.

Of these, nine companies are located in the large business segment with an annual turnover of over 2 billion rubles.

The mid-sized business segment with an annual turnover of 0.8 to 2 billion rubles includes over 20 enterprises.

Most companies are represented in the small business and micro business segments - over 50 and 70, respectively. Their annual turnover is respectively 120-800 million rubles and up to 120 million rubles.

The sustainability of these companies is testified by the fact that they have survived more than five years in the market, while on average, out of a hundred new enterprises of the republic only nine survive, experts of the institute believe. Over the past three years, the growth rate of their revenue amounted to at least 10%. For comparison: the growth rate of GRP in Bashkortostan for the past three years was approximately 3.28%.

According to the head of the project "Support for private fast-growing companies - growth leaders", the candidate of economic sciences Almira Nagimova, the fast-growing companies represent a new non-resource-based model of the economy.

"Now their contribution to the economy of the region is 9%, and the number of employees - 40 thousand people - exceeds the number of Bashneft employees. And these are high-performance jobs, engineers and technicians, "she stated. "The compound annual growth rate of fast-growing companies in the region is on average 32.5%. This is higher than the already mentioned Bashneft (12%) and the companies belonging to the Top 100 of Bashkiria (16%)".

As the economist says, a typical fast-growing company of the republic looks like this: an enterprise created on the basis of high technology production, which produces innovative products oriented to the federal and foreign markets. Its priority markets are the CIS countries, China and the EU countries. The founder of a fast-growing company, as a rule, is an engineer with an entrepreneur's skills.

According to the survey of the Institute for Strategic Studies of Bashkortostan, in the long term, every third such enterprise is focused on the growth of its products' market (38.4%) and revenue growth (90%).

At the same time, 65% of fast-growing companies foresee the growth of competition in the market. Almost half or 48.7% plan to attract foreign investment. Moreover, every tenth fast-growing company in Bashkiria is already working in this direction.

In the short term, 92.5% of such enterprises intend to increase the efficiency of current activities using the mechanisms of production optimization. 87,5% are going to offer new products and services in the market.

One-third of fast-growing companies are thinking about increasing their staff. The attraction of investments and additional financing is planned by at least half of the fast-growing enterprises of the republic.

#fast-growing companies

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