The self-financing of industrial enterprises in the Chelyabinsk region as the basis for the innovative development of the region

The level of innovative development of Chelyabinsk region should be based on the indicators of innovative development of local industrial enterprises. This article assesses the self-financing of the technical and technological development of industrial enterprises. The research analyzes the self-financing potential of industrial enterprises in Chelyabinsk region, and the directions and rationality of this self-financing. Research methods include trend analysis, comparative analysis, and financial and the calculation of financial coefficients. The research substantiates the influence of self-financing of industrial enterprises in their innovative development. The use of self-financing can accelerating the pace of innovative development of the region. The study revealed that a number of industrial enterprises in the Chelyabinsk region do not provide self-financing for the development of intangible assets, R&D expenses, or investments in updating machinery and equipment, which reduces the potential for innovative development. The conclusions can be used for developing management decisions in financing and investment in regional industrial enterprises.