Open AccessASSESSMENT OF THE EFFECTIVENESS OF FINANCIAL SUPPORT FOR SMALL AND MEDIUM-SIZED BUSINESSES DURING THE PANDEMIC
Author(s) -
Vladimir V. Matveev
Publication year - 2022
Publication title -
aktualʹnye napravleniâ naučnyh issledovanij xxi veka: teoriâ i praktika
Language(s) - English
Resource type - Journals
ISSN - 2308-8877
DOI - 10.34220/2308-8877-2022-9-4-109-118
Subject(s) - business , small business , small and medium sized enterprises , finance , purchasing power , entrepreneurship , pace , creditor , control (management) , debt , economics , management , geodesy , keynesian economics , geography
It is obvious that the coronavirus pandemic, which has affected the whole world, continues and affects all spheres of human life, including negatively affecting the pace of economic development of the country. In the conditions of restrictions imposed in connection with the epidemiological situation, there is a decrease in the incomes of small and medium-sized businesses, therefore, to increase the business activity of entrepreneurs, it is necessary to implement effective financial support measures. Due to the fact that these entities do not have a sufficient reserve fund, which would allow in modern conditions of a sharp decline in purchasing power and, as a consequence, the income of organizations, to pay salaries to employees in full and on time, to settle obligations with creditors and landlords. Micro, small and medium-sized organizations, as the most vulnerable market entities in crisis conditions, need financial support. The effectiveness of this support can be achieved only by taking comprehensive measures to provide long-term concessional lending and control over the banking sector, in terms of interaction with entrepreneurs. The purpose of the study is to assess the availability of financial support, in particular lending to small and medium-sized businesses. The article discusses measures of financial support for entrepreneurship, effective from 2020. An assessment of the effectiveness of the implementation of these measures was carried out, problematic aspects were identified that do not allow business entities to have sufficient access to financial support in the form of concessional lending. The proposals aimed at reducing negative trends and increasing the availability of credit to small and microenterprises are listed.