Innovative measures of state financial support for small and medium-sized businesses in Russia

The article discusses innovative measures of state financial support for small and medium-sized businesses (SMEs) in Russia. The aim is to explore how these measures promote business development, eliminate administrative barriers, and promote the image of entrepreneurship. The study includes an overview of grant programs and financial mechanisms implemented by regional authorities and the Ministry of Economic Development, with an emphasis on their eligibility criteria, the distribution of funding and the impact on small and medium-sized businesses. In addition, the effectiveness of these measures to support small and medium-sized businesses in various sectors and regions is analyzed. There are many support measures that are provided within the framework of the national project “Small and medium-sized Enterprises”, allowing entrepreneurs to reimburse the costs of starting or running a business. Studying various grant programs and financial mechanisms, there is a need to strengthen the corrective mechanism of interaction between the state, the private sector, and institutions to increase the effectiveness of support measures. Startups often lack collateral, reliable business plans, or they may not meet the criteria set by venture investors, such as high projected IRR, market growth rates and expected capitalization growth, which makes them unattractive to conservative investors. Based on the identified support measures, there are problems and the need to propose new measures to support innovation.