Financial support for entrepreneurship at the present stage on the example of the Magadan region
Financial support for small and medium sized businesses is provided in all development and developing countries. To varying degrees, by different means, but necessarily such activities, both on the part of the state itself and regional authorities, are the measures that help overcome recurring crises, make certain adjustments between industries and create a more competitive and efficient economy as a whole. Such measures of financial assistance are also been implemented in the Russian Federation, both by the federal center and at the level of local authorities. But it should be born in mind what Russia is a heterogeneous country in terms of geography, population density and the development of certain sectors of the economy. Therefore, it is almost impossible to apply the same actions to all regions. But there are times, like right now, starting in the first quarter of 2022 (and to a lesser extent in 2014-2016), when such assistance is thoroughly needed and urgent. This is due to international sanctions designed to halt the development of the Russian economy. Without certain actions on the part of the authorities, it will be extremely difficult for medium and small businesses to develop. If these measures are not taken in time, we should expect not only the deterioration of the region's GDP, but also the complication of social and when demographic issues. Indeed, in the overall structure of the economy, private business accounts for up to 90% of all enterprises in the country. And this factor must be considered.