On development of stock market instruments for small and medium-sized businesses

The article focuses on the fact that contribution of enterprises and organizations of the segment of small and medium-sized enterprises to the creation of GDP does not exceed 21.9% in Russia. Entrepreneurial activity remains below the global average, and only 2.9% of the active population show interest in starting their own business, whose involvement in small business in our country is 1.5, 2 and 3 times lower than similar indicators in China, the EU and the United States. Conditions for business development are largely determined by the availability of funding sources. It is shown that one of the problems of small and medium-sized business market segment development is weak availability of bank credit resources. The actual absence of alternative financial sources for small and medium-sized enterprises to bank lending creates serious risks for the economy. The intensification of the use of exchange-traded instruments to finance small and medium-sized business enterprises is very important. The national project “Small and Medium-sized Entrepreneurship and Support of Individual Entrepreneurial Initiative”, the Roadmap of the Bank of Russia for the development of small and medium-sized entrepreneurship financing, the creation of the exchange segment “Growth Sector” on the Moscow exchange, guarantees and sureties of the Small and Medium-sized Entrepreneurship Corporation should implement an effective mechanism to stimulate the entry of business enterprises into the stock market. It has been stated that there remains a set of unresolved problems hindering the achievement of this goal. In order to overcome them, there have been proposed a number of additional measures for the successful implementation of the conditions created for small and medium-sized enterprises to enter the corporate bond market