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Residence/starting a company/finding a job (St. Petersburg)

Hello everyone!
I am travelling to St. Petersburg in about a weeks time. I am hoping to live there for an extended time soon after. I have been researching the procedure and different methods for obtaining a residence permit... from what i can tell you can either work or study there. I have also looked into starting an export business; however, I am a bit anxious about starting a business in Russia. Will the beuracracy kill me or are things not the cliche that most people outside of Russia believe it to be?

Other questions about starting a business in Russia:

-There are the basic notification costs, opening a bank account, anything else?
-Can a foreign citizen start a business by ones self or does he or she need a Russian partner?
-will I need to pay "hidden costs"
-is there a minimum yearly income for the company in order to obtain residence from it?

If a business start up is either extremely difficult or impossible, how difficult is it to get a job in st. petersburg with only a basic knowledge of russian? I have looked on and have not had much luck yet.

I am currently obtaining a bachelors in international business from Haaga-Helia in Finland.

Thanks for any info that anyone can give me!!!!