Applying international best practices to improve the business climate in the Russian Federation

Abstract

With the globalization of the economy and the emergence of a new global order, it is still crucial to identify, replicate, and apply best practices for assisting small and medium-sized businesses across different regions to enhance the business climate. Projects that aim to improve the business climate are more effective when they use the best global practices and study business experience from other countries. It is evidently wise to research and implement adapted best practices from around the world that help to enhance the business environment in the Russian Federation. The establishment and growth of a positive business climate should be predicated on the adaptation and application of measures for the efficient regional development. The article provides grounds for the importance of implementing international best practices in initiatives to enhance the Russian Federation’s business environment.