CC BY
1
УДК: 334.6
Akhmedov Fazliddinkhon Valievich
Polytechnic Institute of the Tajik Technical University named after. acad. M. Osimi
Khujand, Republic of Tajikistan
STRATEGIC GUIDELINES FOR THE DEVELOPMENT OF SMALL BUSINESSES IN THE REPUBLIC OF TAJIKISTAN
Abstract
This article discusses promising areas for the formation and expansion of financial support through the participation of the banking sector, the state and small businesses. The benefits and risks for each of the parties are also presented. The general mechanism for ensuring the functioning of this system is disclosed.
Key words:
small business, state, banking sector, financial and credit support, tripartite relations,
mechanism, benefits and risks.
Ахмедов Фазлиддинхон Валиевич
Политехнический институт Таджикского технического Университета
г. Худжанд, Республика Таджикистан
СТРАТЕГИЧЕСКИЕ ОРИЕНТИРЫ РАЗВИТИЯ СУБЪЕКТОВ МАЛОГО БИЗНЕСА В РЕСПУБЛИКЕ ТАДЖИКИСТАН
Аннотация
В данной статье рассматриваются перспективные направления формирования и расширения финансовой поддержки за счет участия банковского сектора, государства и малого бизнеса. Также представлены выгоды и риски для каждой из сторон. Раскрыт общий механизм обеспечения функционирования данной системы.
Ключевые слова:
малый бизнес, государство, банковский сектор, финансово-кредитная поддержка, трёхсторонние отношения, механизм, выгоды и риски.
Before considering the tripartite relationship between the state, the private sector and the banking sector, let's pay attention to the fact that financing of entrepreneurship and lending to entrepreneurship are fundamentally different things. Concessional financing does not imply repayment, while business lending with the participation of the state provides a preferential interest rate, deferred payment, credit holidays, and so on.
In order to strengthen financial and credit relations between the state and the business sector, we recommend creating full-fledged, tripartite relations. Of course, today such relations already exist, only their peculiarity is that they are not systemic and underdeveloped, and popular. During the period of the economic crisis and the lack of financial resources, as well as the unavailability of available financial resources for a certain share of entrepreneurship, we recommend strengthening this aspect of supporting small businesses in terms of financial support through the provision of state guarantees to the banking sector.
The explanatory motive is the creation of the possibility of maintaining and increasing the share of small businesses in the face of reduced market conditions and declining effective demand. The creation of an institution of tripartite relations between the state, banks and private entrepreneurship will make it
НАУЧНЫЙ ЖУРНАЛ «CETERIS PARIBUS»
ISSN (p) 2411-717X I ISSN (e) 2712-9470
№6 I 2023
possible in 7-10 years to radically reform the economy, create a powerful layer of the private sector, which will ensure the high competitiveness of the Russian economy. Table 1 looks at the benefits of each side.
Table 1
Benefits of a triangular relationship
State Banking sector Small business
Tax revenues in the future Balanced, insured loan portfolio (its share) Necessary financial investments in development
Socio-economic well-being due to diversification of labor demand, high level of competition, improvement of the GDP structure Long-term contract with small businesses, entry into new markets with reduced risk due to government guarantees Ability to transform from small and medium business to medium and large business
Increasing the income of citizens Additional bank profit Formation of own financial resources
Increasing the share of the private sector in regional economies, increasing business transparency Development of new technologies that allow assessing the risks of small and medium-sized businesses in various industries Equal distribution of competition across industries
Source: Compiled by the author
From the data presented in Table 1, it becomes clear that the creation of a rigid institutional system regarding the financing of small businesses will allow the state to solve a number of socio-economic problems, ensure future income for budgets of all levels, and improve the socio-economic situation of entire regions. The banking sector has government guarantees when lending to high-risk small businesses, and therefore it does not need to raise interest rates as a payment for risk. Businessmen will have wide access to the loan capital market, and even those who previously did not have such an opportunity due to high risk, who were denied access to the bank's financial resources.
In addition to developing tripartite relations and increasing the flow of funds to the private sector, there is also the problem of information support and the problem of trust. Today it is extremely important to have the availability of information about certain government programs or tools to support and develop business. Sometimes this information simply does not reach the target and interested audience, businessmen often do not know where to turn and what tasks they can apply for, sometimes they do not have the opportunity to understand this in detail due to certain circumstances. In connection with this reason, the state needs to develop a system that allows you to convey information to an interested audience.
For example, this can be done in the department of the tax service, which deals with the registration of new businessmen. A new businessman needs to explain in detail and intelligibly all the possibilities and existing government proposals for support and development, as well as establish regular communication with him to update information, since there is a continuous reform of government programs, changes in the conditions and parameters of the program for financing and lending to small businesses, it is necessary notify you of any changes online. Today there are many ways to solve this problem.
The implementation of tripartite relations will neutralize a number of negative aspects that are present today in the economic activity of small businesses in Tajikistan.
1. The system of tripartite relations will increase the transparency of private business, since the need for transparency will be the basis for issuing soft loans and regular government support. Today, small businesses often see no reason to increase transparency, because due to unacceptable risk or unstable financial flow, they will still not be able to receive additional funding.
2. The need to comply with tax laws in full. The solution to this problem is a consequence of the solution to the previous problem of increasing transparency. The low level of transparency of small businesses provides additional risk and misunderstanding of the objective economic reality that the bank examines when determining the level of borrower's creditworthiness. Compliance with tax laws will increase the filling of
budgets at all levels, as well as make price competition more fair, since those who pay them also include tax deductions in the cost of goods and those who avoid them do not. To a certain extent, this will balance competition and pricing in individual markets.
3. Macroeconomic risk assessment, business risk assessment. Without reliable information about the actions of economic entities due to their lack of transparency, the state cannot develop the most effective development programs, provide industries and sectors of the economy with the necessary parameters, because it does not understand exactly what small business does and what are the real parameters of the economy. To plan the development of macroeconomics, it is necessary to accurately and in detail understand the true scale and features of doing business.
Conclusions. The system of well-coordinated tripartite relations between the state, the private sector and the banking sector ensures an increased flow of funds to the private sector, which in the future will create a powerful business system, increase the competitiveness and flexibility of the Tajik economy. Also, the system is beneficial for all participants in these relations, and the only difference is only in the period of obtaining benefits. The long-term benefit will be received by the state, the banking sector and the business sector will receive short-term benefits.
List of used literature:
1. Ершов Д.Н. Альтернативные источники финансирования и инструменты для малых предприятий: зарубежный и российский опыт / Д.Н. Ершов // Российское предпринимательство. - 2018. - №5.
2. Косов М.Е. Специальный налоговый режим и инновационная деятельность малого и среднего бизнеса / М.Е. Косов, Э.В. Ягудина // Международный бухгалтерский учет. - 2017. - №1. - С. 38-42.
3. Курочкин Н.С. Проблемы финансирования малого и среднего предпринимательства в России / Н.С. Курочкин // Вопросы науки и образования. - 2018. - №9 (21).
© Ахмедов Ф.В., 2023
