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Liburkina L. M.

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Financial Support of Foreign Economic Activity of Small and Medium-Sized Enterprises
Nikitchenko Y. O.

Nikitchenko, Yevhen O. (2024) “Financial Support of Foreign Economic Activity of Small and Medium-Sized Enterprises.” Business Inform 10:129–137.
https://doi.org/10.32983/2222-4459-2024-10-129-137

Section: Problems of Business

Article is written in Ukrainian
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UDC 658.1:339.9

Abstract:
The article is aimed at studying the features of financial support of foreign economic activity of domestic small and medium-sized enterprises. The article defines the role and importance of small and medium-sized businesses. The current state of small and medium-sized businesses in Ukraine has been analyzed, in particular, the dynamics of the number of small and medium-sized enterprises, their proportion, the number of employees employed in small and medium-sized enterprises, the volume of products sold (goods, works, services), and the financial results obtained. On the basis of the carried out analysis, the main trends in the development of small and medium-sized businesses, which are active participants in foreign economic activity, have been identified. Thus, during 2010–2022, there was a decrease in the number of small and medium-sized enterprises, which indicates difficult business conditions and existing economic difficulties that affect the development of domestic small and medium-sized businesses; there is a significant share of small enterprises in the general structure of enterprises in Ukraine; small and medium-sized enterprises create a large number of jobs; there is an increase in the volume of income from the sale of products (goods, works, services) with a simultaneous decrease in the financial results of small and medium-sized enterprises in Ukraine. It is noted that financial support is a key element of strategic management of foreign economic activity of small and medium-sized enterprises. On the basis of the analysis of the essence of the concept of «financial support», the author’s own interpretation of this category is provided. The article defines the structural elements of financial support of foreign economic activity of small and medium-sized businesses, namely: aim, objectives, functions, forms, sources of financing, financial instruments and financial levers of influence. A comparative characterization of the main sources of financing of foreign economic activity of small and medium-sized businesses, in particular profits, bank loans, forfaiting, leasing, grants, government support programs, crowdfunding, venture financing, resources of international funds and organizations, is presented. The main factors influencing the effectiveness of financial support of foreign economic activity of small and medium-sized enterprises are outlined.

Keywords: financial support, foreign economic activity, small enterprises, medium-sized enterprises, sources of financing.

Fig.: 4. Tabl.: 2. Bibl.: 12.

Nikitchenko Yevhen O. – Postgraduate Student, Department of Financial Technologies and Entrepreneurship, Education and Research Institute for Business, Economics, and Management of Sumy State University (57 Petropavlivska Str., Sumy, 40000, Ukraine)
Email: [email protected]

List of references in article

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