Abstract
The article analyzes the current development status of small and medium businesses in Russia. The authors reveal the dynamics of changes in the structure of investments in the Russian economy, where the share of small and medium businesses is especially noted. The direction of the trend and the expected trend of national entrepreneurial activity in the country are determined. The role of state support for small business development is assessed and the main directions in this area are determined. The main sources of financing for small and medium businesses are analyzed. The role of lending in this sector of the economy is noted; issues, risks, and prospects for the use of innovative methods of small business funding are identified. The analysis of the activity of participation of small businesses in the market of debt securities is carried out. In particular, the dynamics of the volume of placement of bonded loans of the small business sector is analyzed, the possibilities of entering the equity capital market through an IPO are being studied. Another innovative area of small and medium business funding is the venture capital financing, which is the most attractive for new startups. The authors revealed a fourfold increase in this type of financing over the past four years. In addition, the article also provides an assessment of alternative sources for small and medium business funding.
Highlights
One of the strategic goals of the development of the Russian economy within the framework of the national project "Small and Medium Enterprises and Support of Individual Entrepreneurial Initiatives" is to ensure the accelerated development of medium and small business, to achieve a gradual increase in its share in non-primary exports to 10%, and in the total GDP of the Russian Federation to 32.5% by 2024 [1]
A different trend is currently observed - the share of this segment in the domestic economy decreased at the end of 2018 from 22% to 20.2%, and the number of small and medium-sized entrepreneurship entities as of early October 2020 decreased by 222 thousand compared to the same period last year [2]
It is well known that capital is the basis for establishing an enterprise, conducting financial and economic activities in the market economy, a source of assets and covering the organization's liabilities, ensuring its continuous functioning and profit maximization
Summary
One of the strategic goals of the development of the Russian economy within the framework of the national project "Small and Medium Enterprises and Support of Individual Entrepreneurial Initiatives" is to ensure the accelerated development of medium and small business, to achieve a gradual increase in its share in non-primary exports to 10%, and in the total GDP of the Russian Federation to 32.5% by 2024 [1]. A different trend is currently observed - the share of this segment in the domestic economy decreased at the end of 2018 from 22% to 20.2%, and the number of small and medium-sized entrepreneurship entities as of early October 2020 decreased by 222 thousand compared to the same period last year [2].
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