Regulation to support SME development and bank loans.

Date: 2015-10-07; view: 433.

Today state support for SMEs is a real issue in our country. In this regard, it is useful to look at the way this mechanism is constructed in some European countries. One good example is our closest neighbor, Finland. In this country the support for SMEs is carried out at four levels: international, national, regional and local. At national level, the implementation and development of support system of small and medium business is run by the Ministry of Trade and Industry. In turn, the Ministry is in charge of a number of agencies responsible for different areas of the system. They include:

· FINNVERA- Guarantee Fund

· TEKES- State Center for Technological Development

· FINPRO- Association of Foreign Trade

· Regional centers of employment and economic development

· "The investments of Finnish Industry" - state investment company

There are also other ministries involved in the support mechanism such as the Ministry of agriculture, the Ministry of Education, Ministry of Labor and Social Affairs, and others.

Thus, we see that in Finland there is a well-established and efficient operating structure. You can be sure that thanks to that operating structures SMEs will be supported at every stage and in every sphere of their activities.

One of the most important parts of support system is a set of measures for a number of industries and areas of production. These measures include tax, tariff and customs privileges.

Russia could take a lot of the Finnish experience. It is proposed to look to such key factors in the Finnish developments to support small and medium enterprises as:

· legal regulation through laws, not under laws additions;

· competition policy;

· elimination of unfair competition in relation to SMEs;

· established infrastructure of information support, where access to information resources and feedback to government agencies in real time is provided ;

· venture capital financing of innovative projects;

· creation of credit cooperatives and other non-governmental institutions to provide credit repayable funds for investment projects;

· Development of an effective mechanism of state guarantees, allows for risk reduction at crediting small and medium sized businesses.[32]

Recently, the Russian authorities had decided to set up "Agency of credit institutions" in the organizational legal form of NDCO (non-banking deposit- credit Organization). It means that our country slowly starting to learn from the experience of developed countries.

This structure should have started its activities at the end of spring- early summer 2014. Its main objective is to facilitate the process of obtaining credit by improving credit conditions. In other words, the Agency will issue guarantees to SMEs in lending.

Support will be implemented under two schemes. The first involves the participation of regional guarantee institutions that will provide counter-guarantees. The second scheme is to issue guarantees directly to SMEs.

In the first variant it is planned that there will be a tripartite agreement of the bank guarantee, where the guarantee event will the borrower's bankruptcy. It is important that the coating will not affect more than half of the liabilities for the loan, and the interest rate for the use of this type of bank guarantee will be amounted of 0.875% per year.

In the second scheme, loan guarantees will be given to the SMEs directly, but only if the amount of the loan will be more than 100 million rubles or it will relate to specialized lending. According to the classification of the Bank of Russia such types of loans may include the financing of projects under the future cash flows from the project or project finance and others. Basically this means investment projects that have a long payback period and high risks of realization.

The Credit Guarantee Agency (non banking deposit-credit Organization) will be provided with the of 50 billion rubles[33] from the federal budget which will placed to the authorized capital of the Agency ( in 2014 - 10 billion. rub.). It is important to note that the Agency will not carry out money transfers or place funds in deposits.