Finance and Credit

The development of alternative financing instruments for small and medium-sized businesses

Vol. 23, Iss. 44, NOVEMBER 2017

Received: 5 October 2017

Received in revised form: 20 October 2017

Accepted: 6 November 2017

Available online: 29 November 2017

Subject Heading: THEORY OF FINANCE

JEL Classification: G10, G21, G23, G28

Pages: 2631–2645

Sabitova N.M. Institute of Management, Economics and Finance of Kazan (Volga Region) Federal University, Kazan, Republic of Tatarstan, Russian Federation

Khairullova A.I. Institute of Management, Economics and Finance of Kazan (Volga Region) Federal University, Kazan, Republic of Tatarstan, Russian Federation

Importance The article discusses the necessity of using alternative financing instruments for business entities.
Objectives The article aims to develop new approaches to the surveyed segment financing. It also emphasizes the need to increase the awareness and interest of business entities and government in alternative financial instruments using.
Methods The study uses the methods of logical and statistical analyses.
Results The article offers certain recommendations on the use of alternative financing instruments in the interest of both credit institutions and small and medium-sized business entities.
Conclusions The current market situation and the associated uncertainties force economic entities to develop and adapt new financing instruments.

Keywords: small and medium-sized enterprises, financing instrument, crowdfunding, mezzanine financing, venture financing


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