In 2021, Elena Valeeva and her husband opened a ceramics studio in the central Russian city of Perm. The business picked up and soon they had expanded to two other locations.
But five years on, their revenues have dwindled and the state has started raising taxes to fund its war effort in Ukraine. After several months of anguish, the couple decided to sell the business altogether and move abroad.
“We are not closing out of weakness but because we can count,” Valeeva said, adding that many entrepreneurs in her circle were considering the same.
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