Problems of financing of innovative activity of the enterprise
Author: Alexey Bogdanov
Scientific adviser: Oksana Fishenko
Source: VIII International scientifically-practical conference «Modern information technology in economy and management of the enterprises, programs and projects», Alushta, on September, 20-26th 2010г. – Kharkov: National space university of N.E.Zhukovsky «the Kharkov aviation institute»
Innovative development of economy of Ukraine is an actual problem and unique possibility of increase of its competitiveness. Feature of innovative activity are considerable terms of its realization. The basic problem of financing of innovations both on макро, and at microlevel is deficit of investment resources. Therefore in modern conditions it is very important to specify possible sources of financing of innovative activity and their optimum ratio. The given problem has been researched in Blanka I.A., Kovaleva V. V's works, Mihalsky Island В, Perstoka T.J., Hobty V. M, Sheremet V. V, etc. In our opinion, from the practical point of view it is the most reasonable to consider financing methods as follows:
Methods of financing of is innovative-investment activity of the enterprise:
- Own
- Extra
- Debt
- Combined
The presented classification, in our opinion, was most completely describes possibilities of the enterprise for attraction of financial resources for realization of innovative projects taking into account foreign experience and development modern lines. For the analysis of alternative sources of financing of innovative activity it is necessary to estimate each stage of innovative process from the point of view of features which directly influence a choice of optimum and potentially possible method of their financing.
On the basis of an estimation of potential sources of financing of innovative activity of special attention the universal mechanism which can be used at all stages of innovative process - from fundamental investigations to marketing deserves. It is venture (brave) fund. The venture capital trust, by determination of the Ukrainian legislation, is an institute of joint investment of the closed type, not diversified kind which performs exclusively private placement of securities of own release and which assets more than on 50 % consist of the corporate rights and securities which have been admitted to the auctions at stock exchange or in trading-information system.
Venture capital trusts have the right to give out loans, to put means in real estate, securities and other assets. Features of venture capital trusts is that they least fall under regulatory requirements from the state that does by their flexible tool for realization of investment programs or in corporate schemes of financing, the taxation occurs only at payment of incomes to participants of venture capital trust; these funds pay 25 %-s' tax from the income only at closing.
Таким образом, финансирование инновационных проектов отечественных предприятий может осуществляться с помощью различных источников, играет важную роль в формировании инновационной политики в стране. Основными условиями ускорения инновационного развития являются: стабилизация экономической ситуации в стране, привлечения финансовых ресурсов, разработка четкой инновационной политики государства, повышение заинтересованности субъектов хозяйствования в новых разработках, инновациях все это позволит не только повысить научно-технический уровень производства, но и динамичность всего хозяйственного комплекса.
References
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