OPTIMIZATION OF SOURCES OF FORMATION OF FINANCIAL RESOURCES OF DOMESTIC ENTERPRISES AS A COMPONENT OF ENSURING THEIR INNOVATIVE DEVELOPMENT
Journal: International scientific journal "Internauka." Series: "Economic Sciences" (Vol.1, No. 75)Publication Date: 2023-07-31
Authors : Rushchyshyn Mariia;
Page : 202-207
Keywords : innovative development; financial resources; sources of formation; domestic enterprises; management system;
Abstract
Attention is drawn to the problems of identifying sources, forms and methods of attracting financial resources for the purpose of implementing innovative activities, taking into account the specifics of the functioning of domestic enterprises. It is shown that the management of financial resources in the field of innovative development of business entities requires constant innovations in accordance with changes in the types of innovations, the level of innovative and technological activity of the business entity, the situation on the innovation market, etc. The purpose of the research is to identify and optimize the sources of the formation of financial resources of domestic enterprises for the implementation of projects of their innovative development. It is shown that the modern realities of the functioning of domestic enterprises, including due to a full-scale war and its critically negative socio-economic consequences, significantly complicate the innovative path of Ukrainian business development. The problem is also the lack of full financing of innovative activities of domestic business. The most rational sources of the formation of financial resources necessary for conducting innovative activities and implementing innovations have been identified, and in accordance with such types of innovations as (1) product, (2) process, (3) marketing, (4) managerial. The advantages and disadvantages of the development and commercialization of the relevant types of innovations are indicated. Four groups are defined ((1) resources of subjects of the general financial and credit system, (2) resources of external investors and partners, (3) internal available resources of the business entity, (4) resources that can be immobilized in case of more effective use of the economic potential of business) and relevant sources, as well as a model of the formation of financial resources has been developed to ensure the innovative development of domestic enterprises. The advantages and disadvantages of attracting financial resources for innovative goals from each of the sources of their formation are indicated.
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