2022, Vol. 9, No. 3. - go to content...

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DOI: 10.15862/13ECOR322 (https://doi.org/10.15862/13ECOR322)

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Kobzev E.A. Modern possibilities of using alternative business financing instruments. Russian journal of resources, conservation and recycling. 2022; 9(3). Available at: https://resources.today/PDF/13ECOR322.pdf (in Russian). DOI: 10.15862/13ECOR322

Modern possibilities of using alternative business financing instruments

Kobzev Egor Andreevich
Financial University under the Government of the Russian Federation, Moscow, Russia
E-mail: 211619@edu.fa.ru

Abstract. In this article, the author considers the possibility of using alternative business financing instruments. The study explored the key aspects of the classical process of financing business entities. In this regard, the work showed other options for the provision of financial services in relation to modern business. The author gave an explanation of the importance of alternative business financing, especially small and medium-sized businesses. An important place in the publication is given to the analysis and classification of alternative instruments for financing business entities. Thus, the author identified 4 groups of alternative business financing instruments, depending on the method of application and the potential level of risk. The low-risk groups include asset-backed financing and alternative instruments, the medium-risk group includes “hybrid” instruments, and the authors assigned equity investment instruments to the high-risk group. It is also worth noting the author’s description of potentially effective alternative business financing groups. In addition, in this paper, examples of the use of certain financing instruments were given, depending on the specifics and stage of the business cycle of the enterprise. In the final part of the work, the author considered the existing measures of state support in relation to business entities, while considering examples from different states. The article also described the positive consequences that may occur in the case of a more active and widespread use of alternative business financing tools.

Keywords: entrepreneurship; financing instruments; small and medium-sized businesses; innovations; lending; equity financing; factoring

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