Activation of expansion of access to means of financing implementation of innovative projects of small and medium enterprises

Abstract

Problem setting. A small and medium-sized enterprise (SME), which must be flexible and generate demand for its own innovative products, transforms knowledge into innovative capital. Under these conditions, all areas of intensification of financing of innovative entrepreneurship become especially relevant. In 2020, the Strategy for the Development of Small and Medium-Sized Enterprises in Ukraine expires, so the task is to develop new strategic directions for change, preferably on an innovative basis. The main obstacle to starting a business is the low level of access to finance. The issue of intensifying the financial support of innovative entrepreneurship is relevant due to the shortage of own financial resources of economic entities and the difficulty of attracting investment, the need to reduce the cost of lending. Analysis of resent researches and publications. Zyanko V.V., Pochtovyuk A.B., Pukala R., Volkova N.I., Sviridova K.D. were engaged in problems of financial maintenance of innovative activity of the enterprises, problems of crediting of small and average business in Ukraine. Issues of innovative activity of business are unique in conclusion that the most important obstacle is the problem of unavailability of funds to advance the innovation process at all stages, sources of funding for SMEs studied Kuzmenko A. Yu., Svistun L.A. Target of research. Development of theoretical provisions and practical recommendations for determining the means of enhancing access to finance for SMEs in an innovative society. Article’s main body. The current changes in intensifying the expansion of access to finance in entrepreneurship through the development of lending with state support, the stimulation of the regulator of financial institutions to finance innovative entrepreneurship are considered. An innovative approach to the use of automated DSS Decision Making Helper is presented to assess the level of activation of the expansion of access to funding for the implementation of innovative projects for SMEs. Conclusions and prospects for the development. The economic crisis and significant growth of Fintech services in finance will increase the search for innovative means of financing the innovative development of SMEs, including loans with state support, factoring, financial leasing, venture financing, etc. It is necessary to improve the strategic goals of financial support of innovative entrepreneurship. The use of modern software tools is recommended to be widely used as a direct way to intensify all processes, in particular, to decide on the choice of means of financing the implementation of innovative SME projects.