Development trends and features of financing the activities of small businesses in Russia
Small business sector is an essential element of the country's economic system and the basis for its sustainable development. The purpose of the study is to assess current trends in the development of small business in Russia and to identify the existing Russian problems, and development prospects. The analysis was carried out on the basis of the official statistical data and materials of specialized Internet portals for monitoring the activities of small and medium-sized enterprises (SMEs). Positive trends have been identified in a number of key activity indicators and contribution of SMEs to the country's economy. The factors affecting the performance of SMEs were grouped, that made it possible to reveal the mechanisms of small business development and to establish the need in creating favorable conditions for attracting various sources of financing. The role of state financial support for small businesses in Russia is assessed, and the necessity of detailed description of possible non-formal sources of financing for the activities of SMEs is presented and justified. Recommendations to improve lending to small business organizations which simplify the access of these entities to borrowed financing sources are suggested. The research results and practical recommendations can be used in the development of programs of small and medium-sized businesses development in the country.