Approaches to the study of export potential development and import substitution of small and medium sized business

This paper describes the options for the growth of the national economy of the Russian Federation, in the context of the implementation of the import substitution policy, in order to increase the competitiveness of domestic production, relative to imported goods. International sanctions, which became the reaction of the West in response to the principled and sovereign position of Russia on a number of topical issues in international relations and world politics, have actualized the task of import substitution. First of all, this concerns industries that are of strategic importance for the economic security of Russia, as well as industries whose production and technological progress are most vulnerable to international sanctions. The purpose of this study is to identify areas for the long-term development of the export potential and import substitution of small and medium-sized businesses. The factors by which the cost of imported goods is formed are considered. The ways of replacing imported goods and services with the assistance of small and medium-sized businesses have been identified in order to increase the export potential of the state. Recommendations for cost management for the production of import-substituting goods are described in accordance with scenarios for their promotion on the market. These initiatives will help open up new conditions for the development of competitive domestic producers, provide access to innovations and technologies, as well as provide support for the export of domestic products from the state.