Naik Muhammad. Small and medium-sized businesses financing in the conditions of the covid-19 coronavirus pandemic

The COVID-19 pandemic has caused large humanitarian and financial costs around the world that continue to rise. To protect lives and enable health care services to cope with the disease and to slack the spread of the virus, isolation measures, movement restrictions and massive closures were required. Thus, crisis in the health care system is seriously affecting economic activity. As a result of the pandemic, the global economy contracted sharply in 2020. Small and medium-sized businesses became the most vulnerable ones in the pandemic period. The purpose of the article is to offer opportunities for financing small and medium-sized businesses in the conditions of the COVID-19 coronavirus pandemic by assessing the state and directions of state support. At the same time, mod- ern methods of scientific knowledge have been used: analysis, synthesis, induction, abstraction. The article substantiates the importance and significance of the preservation and development of small and medium-sized businesses for the state economy in the conditions of the COVID-19 coronavirus pandemic. The infrastructure for supporting small and medium-sized businesses at all levels of government has been investigated. The number of small and medium-sized businesses, quantity of the employed, as well as their access to financial resources has been considered. The directions of state support for small and medium-sized businesses have been analyzed, such as tax exemption; subsidies for the payment of salaries; discount of 12,130 rubles for individual entrepreneurs to pay insurance premiums; loans for salaries, various kinds of deferrals and discounts when renting state or municipal property; a moratorium on the initiation of bankruptcy cases; for the self-employed – a tax refund for 2019 and «tax capital» of 12,130 rubles for the current year. The shortcomings of these methods of state support have been identified, and proposals for the development of entrepreneurial initiative developed: an increase in value added in small and medium-sized businesses at a faster pace compared to the growth of the entire economy; building an innovative, creative and export potential of small and medium-sized businesses; expanding the circle of potential entrepreneurs among the working-age population.

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