This paper presents the findings of a survey of industrial enterprises which was conducted in 2019 at the request of the Bank of Russia. The main goals of the survey were to study the mechanisms of how businesses take investment decisions, to identify the sources of financing investment in non-financial assets and to determine the factors that constrained the companies’ investment activities in 2016-2018. The methodological basis for the study was a similar survey of private businesses conducted by the Bank of England in 2017.