Financial Support for the Sustainable Development of Small and Medium-sized Businesses in the Regions

Inna Shor, Dildarakhon Shelestova, Lyubov Galamyan

2021

Abstract

The sustainable development of small and medium-sized businesses in the regions of the Russian Federation is largely related to the volume and quality of their financial support. At the same time, the state, banks, microfinance organizations, factoring and leasing companies and crowdfunding platforms play an important role in the formation of financial support for small and medium-sized businesses. Currently, due to the coronavirus pandemic, issues related to the improvement of banking and non-banking forms of financial support for small and medium-sized businesses in the regions, as well as state support for their sustainable development, have become topical. These circumstances predetermined the goal of our research, related to the analysis of the current situation and identification of problems and directions for the development of financial support for small and medium-sized businesses in the regions of the Russian Federation. To achieve this goal, we reviewed the applied and theoretical works of modern authors, which were devoted to the financial support of small and medium-sized businesses. Moreover, we used the following scientific methods: systematic approach, generalization, analysis, synthesis, comparison and expert assessments. As a result of the study, urgent problems of financial support of small and medium-sized businesses through bank loans, microfinance, factoring, leasing and crowdfunding were identified, which made it possible to draw conclusions about the need for these entities to take into account the diversity of funding sources, their advantages and disadvantages, as well as development potential, taking into account the modern economic conditions. This served as the basis for the development of measures to improve the current legislation of the Russian Federation, which regulates the financial support of small and medium-sized businesses, and state support for the sustainable development of these entities.

Paper Citation

in Harvard Style

Shor I., Shelestova D. and Galamyan L. (2021). Financial Support for the Sustainable Development of Small and Medium-sized Businesses in the Regions. In Proceedings of the International Scientific and Practical Conference on Sustainable Development of Regional Infrastructure - Volume 1: ISSDRI, ISBN 978-989-758-519-7, pages 266-271. DOI: 10.5220/0010589202660271

in Bibtex Style

@conference{issdri21,
author={Inna Shor and Dildarakhon Shelestova and Lyubov Galamyan},
title={Financial Support for the Sustainable Development of Small and Medium-sized Businesses in the Regions},
booktitle={Proceedings of the International Scientific and Practical Conference on Sustainable Development of Regional Infrastructure - Volume 1: ISSDRI,},
year={2021},
pages={266-271},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0010589202660271},
isbn={978-989-758-519-7},
}

in EndNote Style

TY - CONF

JO - Proceedings of the International Scientific and Practical Conference on Sustainable Development of Regional Infrastructure - Volume 1: ISSDRI,
TI - Financial Support for the Sustainable Development of Small and Medium-sized Businesses in the Regions
SN - 978-989-758-519-7
AU - Shor I.
AU - Shelestova D.
AU - Galamyan L.
PY - 2021
SP - 266
EP - 271
DO - 10.5220/0010589202660271