The two-year benefits of premium payment will be retained for small businesses

At the end of the August the meeting of the Government Commission on the development of small business and competition led by the First Deputy Prime Minister Igor Shuvalov, took place. In course of the meeting the Ministry of Economic Development of the Russian Federation has supported the proposal to save the reduced rate of 20% premium payment for industrial and social small businesses, using the simplified tax system and patent, for the next two years (2014-2015). However, after the expiration of the allotted period not a one-off, but the gradual increase of the rate of 1% to 30%, as the rest business pays, will go on. Of course, such proposal should be seen as a positive signal to small businesses, especially in view of the existing recession in the industrial production of the country and, by and large, low income of small businesses. The Ministry of Finance offers to raise rates up to 30% form the early next year for all small companies. If in the course of the next meeting of the Russian Government the Ministry prevails over, it can be assumed that there will be an inevitable withdrawal of the part of entrepreneurs into the shadows and the closure of businesses.

On the other hand, in the course of the meeting the revolutionary proposal of The Ministry of Economic Development and Trade to release of individual entrepreneurs, for the first time passed the state registration, for two years from the payment of any taxes and obligatory insurance contributions, was rejected. Such conservatism is largely due to the problem of small business control, which presides mainly through the fiscal authorities in our country.

Information agency Credinform prepares to present an independent solvency index, which aims, inter alia, to identify fly-by-night companies, registered mainly as small enterprise.

Receivables turnover of printing companies and publishing houses in Russia

Information agency Credinform prepared a ranking of receivables turnover of printing companies and publishing houses in Russia. The ranking list includes 10 largest Russian companies with this activity and is based on turnover as stated in the Statistics register, with the reference period of 2011. These companies were ranked first in terms of revenue, and then of ascending the receivables turnover ratio.

Receivables turnover indicates the number of days required to recover the debt. The lower the number, the faster the receivables turn into cash and, therefore, increase the liquidity of working capital. For an objective assessment of the indicator, it should be analyzed alongside the payables turnover ratio: number of days of payables turnover should exceed the number of days of receivables turnover.

Receivables turnover and solvency index of printing companies and publishing houses in Russia, leading in terms of turnover. Top-10
Name, INNRegionTurnover 2011, mln. RUBReceivables turnover, daysSolvency index GLOBAS-i®
1 Print House Pushkinskay Ploshad, INN 7723193075 Moscow 2 937 13,72 332 (satisfactory)
2 JSC "Publishing House "Rossiyskaya gazeta", INN 7714010896 Moscow 3 858 13,83 193 (top)
3 LLC First printing and publishing plant, INN 5024051807 Moscow region 2 737 22,45 338 (satisfactory)
4 LLC Fashion Press, INN 7743002018 Moscow 2 945 69,58 195 (top)
5 CJSC "Conde Nast", INN 7709244433 Moscow 2 366 69,82 164 (top)
6 JSC "Prosveshcheniye publishers", INN 7715589549 Moscow 3 701 84,15 206 (high)
7 CJSC "Kommersant. Publishing House", INN 7707120552 Moscow 2 488 102,19 226 (high)
8 "Hearst Shkulev Media" LLC, INN 7708183322 Moscow 2 417 105,01 220 (high)
9 Publishing house "Komsomolskaya pravda", INN 7714037217 Moscow 4 903 105,86 206 (high)
10 Eksmo Publishing House LLC, INN 7708188426 Moscow 4 651 166,96 197 (top)


Today the publishing industry worldwide is in decline in all indicators and the Russian market is no exception. Many experts explain negative tendencies with sales slowdown for printed literature because of the demographic crisis accompanied by differentiation of reader demand and the increasing popularity of electronic media and Internet resources.

In the domestic publishing market the leading positions belong to Moscow companies. In the ranking top-10 includes nine Moscow companies and one company of the Moscow region.

The ranking top-3 is as follows: Print House Pushkinskay Ploshad, JSC "Publishing House "Rossiyskaya gazeta" and LLC First printing and publishing plant. Receivables turnover of these companies does not exceed 23 days. It should be noted that according to an independent evaluation of the creditworthiness of the Information agency Credinform, only JSC "Publishing House "Rossiyskaya gazeta" was given the highest solvency index GLOBAS-i ®, which describes the company as a financially stable. Two other companies were given a satisfactory solvency index GLOBAS-i ®, which means that firms do not guarantee the full and timely repayment of its debt obligations.

Receivables turnover of printing companies and publishing houses of RF, Top-10

The undisputed leader of the Russian printing market is Eksmo Publishing House LLC, both in terms of circulation and titles released, closes the top-10 of largest producers, with the highest rate of receivables turnover - 167 days. Despite this, the company has been assigned the highest solvency index GLOBAS-i ®. Another major typographic venture, JSC "Prosveshcheniye publishers" settled only on the sixth line of the ranking, having a high solvency index GLOBAS-i ®.

Based on these ranking results it is possible to ascertain the necessity to take into account the collection of financial indicators for an objective assessment of the company’s solvency and financial stability.