+7 495 989 9610, 9am6pm (GMT+3), Monday – Friday
ИД «Финансы и кредит»

JOURNALS

  

FOR AUTHORS

  

SUBSCRIBE

    
Financial Analytics: Science and Experience
 

Financial instruments of State support for small and medium-sized businesses in Russia during the coronavirus pandemic

Vol. 14, Iss. 3, SEPTEMBER 2021

Received: 18 January 2021

Received in revised form: 14 February 2021

Accepted: 9 March 2021

Available online: 16 August 2021

Subject Heading: FINANCIAL INSTRUMENTS

JEL Classification: E61, G38, H11, L38

Pages: 298–322

https://doi.org/10.24891/fa.14.3.298

Lyudmila D. KAPRANOVA Financial University under Government of Russian Federation, Moscow, Russian Federation
KLD-Home@mail.ru

https://orcid.org/0000-0001-9130-1252

Subject. The article examines financial instruments of State support for small and medium-sized enterprises (SMEs) in Russia, in the context of the crisis and pandemic.
Objectives. The purposes are to unveil major financial and economic mechanisms and instruments of State support for SMEs, analyze the results of State policy, aimed at financial assistance to SMEs, assess measures to support SMEs during the crisis and pandemic, and define the main directions of State policy development in relation to SMEs in the coming years.
Methods. The study employs methods of logical, statistical, qualitative and qualitative analysis, and graphical methods for presenting the results of information analysis.
Results. I identify economic problems, faced by SMEs in the most affected spheres of activity, reveal that the vulnerable position of SMEs rests on insufficient financial stability of companies, which is associated with negative changes in the economy that disrupted the economic linkages among entities, and a decrease in lending from the banking sector.
Conclusions. In Russia, there are serious problems in SME development. To solve them, it is necessary to maintain anti-crisis measures and continue targeted support to SMEs in priority sectors of the economy. It is crucial to develop comprehensive financial support for SMEs, consolidate all support tools provided by credit institutions and participants of the National Guarantee System, expand the access of SMEs to participation in procurement of the largest customers, and digitalize the procurement process on the basis of a digital platform.

Keywords: small and medium-sized enterprises, State support, support program, concessional lending, tax regulation

References:

  1. Bukhval'd E.M., Vilenskii A.V., Lylova O.V., Mal'gina I.V. [The position of administrations of Russian small-scale municipal entities on the issue of supporting small and medium-sized enterprises]. Ekonomika: vchera, segodnya, zavtra = Economics: Yesterday, Today and Tomorrow, 2017, vol. 7, no. 8, pp. 5–24. URL: Link (In Russ.)
  2. Zolotareva Yu.P., Nasyrova Yu.R. [Measures of State support for the development of small and medium-sized businesses in the conditions of the COVID-19 pandemic]. Aktual'nye issledovaniya, 2020, no. 21, pp. 135–138. URL: Link (In Russ.)
  3. Mantsurov S.I. [Analysis of the effectiveness of the National Project "Small and Medium-sized Entrepreneurship and Support to individual entrepreneurial initiative" implementation]. Aktual'nye issledovaniya, 2020, no. 21, pp. 139–141. URL: Link (In Russ.)
  4. Khoroshayev A.A. [Measures of State support for small and medium-sized businesses]. Aktual'nye issledovaniya, 2020, no. 19, pp. 73–75. URL: Link (In Russ.)
  5. Baldina Yu.A. [The role and position of small and medium-sized entities in contemporary economic environment]. Vestnik Udmurtskogo universiteta. Ser. Ekonomika i parvo = Bulletin of Udmurt University. Ser. Economics and Law, 2016, vol. 26, no. 4, pp. 7–10. URL: Link (In Russ.)
  6. Kozhura N.A., Kuznetsova E.L. [The main problems of the development of small business in the Russian Federation]. Nauchno-metodicheskii elektronnyi zhurnal “Kontsept”, 2017, no. S13, pp. 38–43. (In Russ.) URL: Link
  7. Zavgorodnii A.F., Stepanova R.G. [The relevance of small and medium-sized businesses development in Russia]. Simvol nauki = Symbol of Science, 2016, no. 3-1, pp. 70–72. URL: Link (In Russ.)
  8. Antonova M.P., Barinova V.A., Gromov V.V. et al. Razvitie malogo i srednego predprinimatel'stva v Rossii v kontekste realizatsii natsional'nogo proekta [The development of small and medium-sized enterprises in Russia in the context of the implementation of the national project]. Moscow, Delo Publ., 2020, 88 p.
  9. Sibgatulina A.I. [State support of small and medium business in Russia]. Ekonomika i menedzhment innovatsionnykh tekhnologii, 2016, no. 5. (In Russ.) URL: Link
  10. Plyashnik O.V. [State support for small and medium-sized businesses]. Molodoi uchenyi = Young Scientist, 2018, no. 14, pp. 196–198. URL: Link (In Russ.)
  11. Uryupina M.M. [Improvement of the mechanism of preferred loan of small and medium businesses in Russia]. Mezhdunarodnyi zhurnal gumanitarnykh i estestvennykh nauk = International Journal of Humanities and Natural Sciences, 2019, vol. 12-3, pp. 161–167. URL: Link (In Russ.)
  12. Peredera Zh.S., Gritsenko T.S., Teryaeva A.S. [The system of lending to small and medium businesses in Russia: The concept, tools, participants and their roles]. Vestnik Evraziyskoi nauki = The Eurasian Scientific Journal, 2019, vol. 11, no. 1, pp. 1–13. URL: Link (In Russ.)
  13. Tkalich Ya.E. [Formation of the infrastructure of State credit support for small and medium-sized businesses in Russia]. Problemy sovremennoi nauki i obrazovaniya = Problems of Modern Science and Education, 2018, no. 2, pp. 29–34. URL: Link (In Russ.)
  14. Rubtsova O.L. [Problems of State Support for Russian Small Business]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2015, vol. 16, no. 17, pp. 2697–2706. URL: Link (In Russ.)
  15. Obraztsova O.I., Chepurenko A.Yu. [SME Policy in the Russian Federation: Renewal after the Pandemic?]. Voprosy gosudarstvennogo i munitsipal'nogo upravleniya = Public Administration Issues, 2020, no. 3, pp. 71–95. URL: Link (In Russ.)
  16. Platonova I.N., Kareva A.O. [SME Support Measures in the EU amid the ‘Viral’ Economy]. Rossiiskii vneshneekonomicheskii vestnik = Russian Foreign Economic Bulletin, 2020, no. 5, pp. 22–35. URL: Link (In Russ.)
  17. Kalmykov N.N., Ivanova T.B., Zemlyanskaya I.S. et al. [About improvement of mechanisms of support of subjects of small and medium business]. Rossiiskoe predprinimatel'stvo = Russian Journal of Entrepreneurship, 2019, vol 20, no. 3, pp. 789–806. (In Russ.) URL: Link
  18. Barkhatov V.I., Belova I.A. [State programs for small and medium enterprises in Russia]. Vestnik PNIPU. Sotsial'no-ekonomicheskie nauki = PNRPU Sociology and Economics Bulletin of PNRPU. Socio-economic Sciences, 2017, no. 1, pp. 208–223. (In Russ.) URL: Link

View all articles of issue

 

ISSN 2311-8768 (Online)
ISSN 2073-4484 (Print)

Journal current issue

Vol. 14, Iss. 3
September 2021

Archive