MANAGEMENT OF SOURCES OF FINANCING OF AGRICULTURAL ENTERPRISES
Abstract
The article is devoted to the study of issues of managing sources of financing for agricultural enterprises in Ukraine. Key determinants of financing have been identified, with particular attention paid to own funds, access to bank lending, the level of government support, integration of digital financial technologies, and participation in international financing programs. The optimal structure of financing sources for agricultural enterprises is identified, which has industry-specific characteristics. Diversification of financing sources is a key factor in ensuring the financial sustainability of agricultural enterprises. A SWOT analysis of sources of financing agricultural enterprises in Ukraine was carried out. Recommendations are substantiated for improving mechanisms of state support for the agricultural sector and developing alternative sources of financing. Bank lending remains the most influential source, but requires a reduction in cost and simplification of access. Electronic financial services are important today and contribute to increasing the overall productivity of agricultural enterprises' factors of production, with the greatest effect observed for small and medium-sized enterprises, which opens up prospects for overcoming inequality in access to financial resources. Alternative sources of financing (leasing, agricultural receipts, crowdfunding) have significant potential, but insufficient level of infrastructure development. State support has high potential, but suffers from instability and bureaucratization. International programs can be an important addition, but not the main source of financing. The results of the SWOT analysis of sources of financing for agricultural enterprises indicate the need for systemic changes in the mechanisms of state support for the agricultural sector and the development of infrastructure for alternative sources of financing in Ukraine. At the same time, the significant potential of alternative sources confirms the feasibility of diversifying the financial strategy of agricultural enterprises.
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