Directions and instruments for improvement of the state policy of financial and credit support of small business enterprises in Ukraine
Journal Title: Економіка. Фінанси. Право - Year 2018, Vol 12, Issue
Abstract
It is established that domestic small business entities have difficulties and need financial and credit support for their own further development. In a post-crisis economic recovery, the role of the state is crucial to the process of financial and credit support. The purpose of the article is to identify areas and develop tools for improving the state policy of financial and credit support of small business entities in Ukraine. In the article the directions of improvement of the state policy of financial and credit support of small business entities in Ukraine are determined. Volumes and sources of financing of small business are substantiated, among which: funds of regional and local budgets; finances of the state budget of Ukraine, employment centers, state funds for the promotion of entrepreneurship; resources of funds of international technical financial assistance; financial resources of non-state (including associate) institutions of the system of support and promotion of entrepreneurship development, entrepreneurs, and the public. The methodical bases of quotation of financing volumes of measures promoting small business development have been developed. It is proved that in the conditions of post-crisis economic recovery one of the most important elements of financial and credit support of small business entities is the funds for support of small business. The hierarchical structure of the system of institutions (in the composition of local budgets) of the state financial assistance to small business is proposed. The positive effects from the creation and maintenance of a network of small business support funds are substantiated. The basic functions of small business support funds are determined. The mechanism of provision of a small business support fund by partial compensation of interest on loans of subjects of entrepreneurship in banks' establishments has been developed. Summarizing, it should be emphasized that non-bank financial and credit institutions may become additional sources of financial resources in the market economy.
Authors and Affiliations
Yuliia Volodymyrivna Shushkova, Volodymyr Andriiovych Dronskyi
Keywords
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