FINANCING OF SMALL ENTERPRISES INVESTMENT PROJECTS: INNOVATIVE ASPECT

Abstract

In modern conditions, at a time when the volatility of the raw commodities markets does not allow building the long-term forecasts, to ensure a sustainable economic growth and the transition from the raw to innovative way of development is the main benchmark for macroeconomic policy of Russia. Small business presents the most popular form of business in world leading economies, in many ways determining the social-economic and innovative development. However, in Russia the level of development of small business is insufficient for operative creation of work places and revitalization of supply and demand in local commodity markets. In recent years, the sectoral structure of small businesses is almost the same. Nonproductive environment of activity in Russia remains more attractive than productive due to a higher profit rate, and as a result the processes of generating innovations, diversification and technological development are realized with extremely low speed. In terms of sanctions and restrictions, the foreign partners imposed against Russia, the importance of improving the state policy in the spheres of regulation and support of innovative activity, and the stimulation of technological processes updating, including small business, objectively increases. To agree with  the possibility of using the territorial economic levers for encouraging the progressive development of the economy, it is necessary to change radically and simultaneously the state policy in the field of regulation and support the  innovative small business.