State Regulation of Financial and Investment Support for Small and Medium-Sized Businesses
Authors:   Odessa National University of Economics, Kovalenko V. 
Published: April 2021

Annotation. Introduction. The current state of Ukraine’s economy largely depends on the development of small and medium-sized businesses. Today, there are problems of urgent solution, which are related to financial and investment support for entrepreneurship. The main obstacles to the development of small and medium-sized businesses in Ukraine are: lack of financial security; imperfection of legislation; underdeveloped financial and credit mechanism; quarantine restrictions related to COVAD-19. Purpose. The main purpose of the study is to study the problems, prospects of state regulation of financial and investment support for small and medium business development in Ukraine. Results. The article focuses on identifying problems related to state regulation of financial and investment support for small and medium business development. It is determined that the main obstacles to the development of business entities in Ukraine are: limited opportunities for export; insufficient level of qualification of modern managers; low level of innovative development; low level of business efficiency; lack of an effective system of state support for small and medium business development; limited access to funding sources; lack of incentives for business growth; spread of fictitious entrepreneurship; imperfection of the tax system; lack of effective regulatory support, effective government projects and programs for small and medium business development; limited information and advisory support from public authorities. The article analyzes the main indicators of small and medium business development in Ukraine. The analysis showed that in Ukraine entrepreneurship does not yet play a significant role in ensuring economic growth, its contribution to gross domestic product is only 19,2%. The main legislative and normative documents that regulate the process of financial and investment support of small and medium business are analyzed. The article emphasizes the need to create more favorable conditions for the development of small and medium enterprises by the state. It is substantiated that all measures of state regulation of financial and investment support of small and medium business should be evaluated from the standpoint of their effectiveness. The main indicators for assessing the effectiveness of public policy in the field of small and medium enterprises are identified. These include institutional and legal, budget and tax, financial and investment, institutional and infrastructure and information and advisory vectors of state regulation in the field of development of small and medium enterprises. Conclusions. To increase the efficiency of state regulation of financial and investment support for the development of small and medium-sized businesses, the author proposes to revise the taxation system, revise the procedure for granting state loans and guarantees, expand lending and introduce a system of guaranteed targeted loans for business projects. Keywords: state regulation, financial and investment support, entrepreneurship, small and medium business, .social responsibility of business.