Promotion of the Business Activity in Modern Russia: Successful Practices

Abstract

The subject of the research is the practice of boosting the business activity in the medium-sized and small businesses in the domestic economy. The purpose of the research was to assess the effectiveness of financial and non-financial tools for supporting the business activity in the modern domestic economy. It is shown that the inefficiency of the Russian financial market is mitigated by the state through the formation of an institutional business-friendly environment and development institutions such as the Industrial Development Fund, the SME Corporation, the Russian Export Center, etc. The paper pays special attention to the assessment of the project related to the development of high-tech medium-sized companies — “National Champions”. It is concluded that in the modern domestic economy of the recent years the business vector tends to shift towards the preferential use of non-financial tools for supporting business activities.