Abstract
The purpose of the study was to assess the efficiency and accessibility of microcredits for small Ukrainian enterprises and to justify the feasibility of strengthening government contributions in lending to ensure the sustainable development of small businesses. Indicators for evaluating the efficiency and accessibility of microcredits are systematized. Methodological approaches to assessing the efficiency of lending for the creation and development of microenterprises have been improved. A model for evaluating the efficiency of microcredits aimed at the survival of microenterprises in a deteriorating environment was developed. It has been revealed that the level of efficiency of microcredit creation for firms in some time intervals depends quadratically on the share of microcredits in the total amount of funds directed to the creation of firms. A linear relationship between the relative amount of credit received and the growth rate of firms’ assets has also been established. However, there is no significant impact of the microcredit’s amount on labor productivity. A method has been developed for evaluating the budgetary efficiency of microcredits when such a lending is carried out using funds from state or local budgets. It was found that improving these lending conditions through budget financing can significantly increase its attractiveness for microenterprises without significantly reducing the budgetary efficiency of microcredits. This article substantiates the need to strengthen state support for microcrediting of small Ukrainian enterprises in the context of the COVID-19 pandemic.
Highlights
Ensuring a steady and lasting improvement in the living standards of the population in the face of constraints on natural and other resources requires governments to implement the concept of sustainable development
The purpose of the study was to assess the efficiency and accessibility of microcredits for small Ukrainian enterprises and to justify the feasibility of strengthening government contributions in lending to ensure the sustainable development of small businesses
The obtained results allowed us to deepen our understanding of the complex patterns that occur in the process of microcredits to small businesses
Summary
Ensuring a steady and lasting improvement in the living standards of the population in the face of constraints on natural and other resources requires governments to implement the concept of sustainable development. This development should be considered both at the national level and at the level of individual regions, industries, enterprises, and households. The role of enterprises in achieving sustainable development is great because, to a large extent, the implementation of goals and objectives of this development depends largely on them [1,2]. There are many goals and objectives of sustainable development [3] which determines its complexity and versatility. Their sustainable development will be a stable long-term improvement of economic, social, environmental, and other performance of these enterprises
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