FINANCIAL PROBLEMS OF SMALL BUSINESSES IN THE CONDITIONS OF PANDEMIC AND CRISIS

DOI: 10.36871/ek.up.p.r.2021.04.03.005
UDC 336.71

Authors

Yu. E. KLISHINA,
Candidate of Economic Sciences, Associate Professor of the Department of Finance, Credit and Insurance, Stavropol State Agrarian University Stavropol, Russia
O. N. UGLITSKIKH,
Candidate of Economic Sciences, Associate Professor of the Department of Finance, Credit and Insurance, Stavropol State Agrarian University Stavropol, Russia

Abstract

Small business is becoming increasingly important for the socio-economic development of a single state. The successful development of small business largely depends on the provision of small businesses with financial resources. The issue of state financial and credit support for small business is especially acute at the moment when the majority of entrepreneurs need funds not to maintain the growth and development of companies, but simply to survive. Quarantine measures to combat coronavirus infection have caused tremendous damage to the entire global economy, and small businesses are most vulnerable at the moment, since, due to their small size, they do not have a so-called airbag in case of a crisis. The article analyzes the impact of the coronavirus pandemic on the development of small businesses. It is shown that small business plays a significant role in the development of regions, however, for its further development, to smooth out the consequences of the pandemic and the crisis, it is necessary to create a system of effective state support.

Keywords

small business, financing, lending, government support for small business, pandemic.