The economic situation in Russia remains extremely challenging: experts warn that up to a third of small and medium-sized enterprises may disappear in the near future due to a deep crisis in 2026.
This is reported by Finway
Deterioration of Business Conditions and Rising Prices
Most Russian entrepreneurs report a significant deterioration in market conditions: 95% of those surveyed stated that doing business has become more difficult, and three-quarters reported substantial challenges in their operations. Since the beginning of the year, 68.7% of respondents have recorded a decline in revenues, and 5.5% of companies have already completely ceased operations.
The most significant drop in demand is observed in the beauty industry, dentistry, and automotive maintenance and repair. Profitability has decreased the most in auto services, healthcare, the pharmaceutical sector, and the hotel industry. At the same time, the level of shadow employment is rising in these sectors. According to research, 82.7% of entrepreneurs have already raised prices for their services and goods, with more than half of them increasing rates by 20%.
“Russian small and medium-sized businesses entered 2026 in a state of deep crisis. Survey data shows that 95% of entrepreneurs report a worsening situation, and three-quarters indicate significant complications. Since the beginning of the year, 68.7% of respondents have reported a decline in revenue, and 5.5% have already ceased operations,” the report states.
Increase in Debts and Bankruptcies in Key Sectors
In January 2026, the total wage debt in Russia reached 1.86 billion rubles, with 40.7% of this debt arising in the first month of the year. The largest share of unpaid wages is in the construction sector (42%), followed by raw material processing (31.1%) and mining (11%).
One of the most notable cases is the collapse of the leading Siberian construction holding “Novolex,” which failed to pay employees about 2.5 billion rubles. Nine bankruptcy claims have been filed against the company, “Alfa-Bank” is demanding the recovery of 1 billion rubles, and some of the equipment has been seized. The net profit of most of the holding’s structures has decreased by 70–90%, and “Trading House Novolex” ended the year with a loss of 148 million rubles.
In Vorkuta, employees of the companies “Severputstroy” and “Severkomplektstroy” are preparing for strikes due to unpaid salaries: the last time they received their full salary was in December, and February’s payments have not been made at all. One protest has already taken place. Employees of the municipal “Specialized Road Management” have won a court case for salary increases from 8 to 30–57 thousand rubles, but they have not received any payments, and most have been dismissed.
Salary payment issues are being reported across the country: bus drivers in Tuva, Kamchatka, and the Omsk region are left without money, while road workers in Smolensk have been unable to secure salary increases and improved working conditions since last year.
Russia has also seen an increase in the number of liquidated enterprises. At the same time, the number of lawsuits has significantly decreased, indicating a loss of trust in the judicial system among businesses.