msueconВестник Московского университета. Серия 6. ЭкономикаLomonosov Economics Journal0130-0105MSUPRESS10.55959/MSU0130-0105-6-58-4-3msuecon-1091Research ArticleОТРАСЛЕВАЯ И РЕГИОНАЛЬНАЯ ЭКОНОМИКАBRANCH AND REGIONAL ECONOMYФинансовые факторы формирования новых предприятий: модель российских регионовFinancial factors of forming new enterprises: model of russian regionshttps://orcid.org/0000-0001-7828-8946ЗаздравныхА. В.ZazdravnykhA. V.

Заздравных Алексей Витальевич — к.э.н., доцент Экономического факультета

Москва

Moscow

apkreforma@mail.ruМосковский государственный университет имени М.В. ЛомоносоваРоссияLomonosov Moscow State UniversityRussian Federation2023120320235845083Copyright © Заздравных А.В., 20232023Заздравных А.В.Zazdravnykh A.V.Данная работа распространяется под лицензией Creative Commons Attribution 4.0.This work is licensed under a Creative Commons Attribution 4.0 License.https://msuecon.elpub.ru/jour/article/view/1091

В условиях сложившейся геополитической и экономической ситуации возрастает актуальность развития отечественного сегмента предпринимателей за счет ускоренного формирования новых предприятий, способных обеспечить устойчивость экономики российских регионов. Одним из важнейших факторов, определяющих перспективы такого формирования, выступают финансовые условия старта хозяйственной деятельности. Анализ данной проблемы пока слабо представлен в отечественной научной литературе, отсутствуют ее системные исследования. Настоящая статья устраняет данный пробел и ставит целью изучение влияния объемов банковского кредитования, а также привлеченных средств населения как источника финансирования нового предпринимательства, на динамику входа новых предприятий. За период 2012–2021 гг. в российских регионах выявлены разнонаправленные тенденции такой динамики в сегментах коммерческих компаний и индивидуальных предпринимателей. Установлена существенная межрегиональная дифференциация как по параметрам формирования новых предприятий, так и по региональным финансовым условиям. Констатируется развитие негативных тенденций в сфере кредитования МСП. Предложена модель, доказывающая значимое влияние финансовых факторов на динамику входа хозяйствующих субъектов. Раскрыто влияние на эту динамику и ряда других экономических условий – состояния региональных рынков труда, численности населения и его реальных денежных доходов, численности хозяйствующих субъектов и др. На фоне негативных ожиданий в экономике и спаде деловой активности возможно резкое ухудшение ситуации с финансовой обеспеченностью новых предприятий. Региональная политика должна стимулировать развитие предпринимательства через упрощение доступа к источникам финансирования, снижение стоимости заемных средств. Определенным потенциалом решения проблем финансирования новых предприятий обладают и меры правительственной антикризисной программы 2022 г.

In the current geopolitical and economic situation, the relevance of developing domestic segment of entrepreneurs is increasing due to the accelerated formation of new enterprises capable of ensuring economic stability in the Russian regions. One of the most important factors determining the prospects for such formation is the financial conditions for starting an activity. The analysis of this problem is still poorly presented in domestic scientific literature, there are no systematic studies of it. This article eliminates this gap and aims to study the impact of bank lending volume, together with attracted funds of the population as a source of financing new entrepreneurship, on the dynamics of new entries. For the period of 2012–2021, the author reveals multidirectional trends of such dynamics in the segments of commercial companies and individual entrepreneurs in the Russian regions. A significant interregional differentiation has been established both in terms of the parameters forming new enterprises and regional financial conditions. The development of negative trends in the field of SME lending is stated. A model is proposed that substantiates a significant influence of financial factors on the dynamics of business entries in the segments of commercial companies and sole proprietors. This dynamics is also influenced by a number of other economic conditions – the state of regional labor markets, the population and its real incomes, the number of economic entities, etc. Against the background of negative expectations in the economy and a decline in business activity, a sharp deterioration in the financial security of new enterprises is viewed as possible. Regional policy should stimulate the development of entrepreneurship through simplifying the access of entrepreneurs to sources of financing, reducing the cost of borrowed funds. Anti-crisis government policies of 2022 also have a certain potential to solve the problems of financing new enterprises.

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The authors declare that there are no conflicts of interest present.