On financing of investment projects of enterprises in the context of revilatization of a shrinking market

The article deals with a broad approach to decision-making regarding the financing of investment projects of companies operating in the declining markets, whose potential has not been fully exhausted. The practical implementation of a regional investment policy is determined mainly by the degree of development of an effective mechanism for its implementation. A special attention is paid to the financial mechanism for the implementation of the investment strategy of the region, which includes the development of a policy of cooperation with credit institutions in the area of concessional financing of the investment projects that will ensure the growth of enterprises in the declining markets. The existing approaches to financial decision-making on the implementation of investment projects include comprehensive assessment of the company’s financial state and cash flows of the project taking into account investment risks. Taking into consideration the specifics of this issue, namely the regional development budget, it’s proposed to complete a standard methodology for assessing a borrowing capacity with indicators which make it possible to assess a qualitative level of the strategic development of the company. Participation of the regional development budget in the issue of crediting of investment projects for enterprises development in the context of revitalization of the market leads to the need to expand the standard method of assessing the current state and the cash flows of the project. There is a need for dynamic assessment of financial and economic development of the economic entity, which requires the calculation of indices of growth or decline of submitted indicators. The index approach is based on a comparison of the indices of growth performance with their criterion value using a five-point scale. After the formation of blocks of indicators it’s necessary to determine the importance of each in experiments. In this case specialists of credit institutions and the Ministry of Economic Development of the Chelyabinsk region have been questioned to determine the importance of criteria for making financial decisions.