Export potential of small and medium enterprises

The most important directions of economic policy pursued by the Russian Federation at the present stage are the following: development of export, increase of the share of products with high degree of processing in its structure and enhancement of the competitiveness of Russian products on foreign markets. The issues of export potential development are particularly critical in terms of the recent international events and the sanctions imposed by the leading world economies. In the conditions of severe competition and external constraints it is necessary to improve export potential, primarily due to the most mobile component of the economy - small and medium enterprises. To achieve these objectives it is advisable to stimulate and attract successful and competitive enterprises (especially those with innovative and high-tech products/services) to the sphere of foreign economic activity, contribute to realization of their export potential and improve their skills and knowledge level of their employees in the field of foreign trade. Thus, the rise in export is a priority economic development direction both at the federal and regional level. The article tries to evaluate the export potential of small and medium enterprises of the region by calculating an integral indicator. It determines key directions of export potential development on the basis of conducted surveys of business leaders and experts in the field of foreign economic activity. It concludes that export-oriented companies have capacities for foreign economic activity, but they do not use them fully. The author makes proposals on their improvement through the elaboration of the long-term program to encourage competitiveness of export-oriented small and medium enterprises of the Vologda Oblast.