Analyzing the Instruments for Providing the State Financial Support to Small Business in Ukraine During Wartime

Анотація

The aim of the article is to analyze the instruments of financial support for small business entities in Ukraine, as applied by the State under martial law, and to substantiate proposals for transforming such measures in the context of increasing their effectiveness. As a result of the study, it was found that during the years of russian military aggression, financial support for small business entities from the State was provided in various forms and using several instruments. Direct financial support for small businesses was carried out on both a non-repayable and repayable basis through the implementation of relevant government programs. The provision of financial support to small business sector entities was aimed both at ensuring their survival under difficult conditions, relocating enterprises from dangerous, front-line areas, and at strengthening their energy independence, creating jobs, and supporting the activities of enterprises in certain sectors of the economy. An important direction of State-provided financing of entrepreneurial activity in the form of grants has become providing them for the purpose of starting new businesses, especially by veterans and their family members. A significant portion of financial support for small businesses was provided in the form of loans at preferential interest rates. Considering the prolonged nature of the military conflict in Ukraine and the increasing instability and risks, further State support for small entrepreneurship remains important. The feasibility of applying a strategic approach to its provision, long-term planning of priority directions, tasks, and mechanisms for implementing corresponding measures is substantiated. The necessity of ongoing systematic monitoring of the implementation procedures of these measures and evaluating their appropriateness and efficiency, as well as controlling the results obtained, has been proved. In the context of ensuring the effectiveness of State-provided financial support for small business entities, the importance of applying a systemic and transparent approach to decision-making regarding the use of support instruments is reasoned, along with an integrated approach to selecting priority areas of support, and an emphasis on using instruments that stimulate entrepreneurial activity based on innovation and energy saving, as well as technological and digital modernization of production.

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