THE ECONOMIC NATURE AND CONCEPTUAL FOUNDATIONS OF FINANCIAL SUPPORT FOR ENTERPRISE DEVELOPMENT

Abstract

The current stage of development of the national economy is characterized by various crisis situations caused by high volatility in the external environment and shifts in the global economic paradigm. This trend requires countries to create the necessary conditions for ensuring a stable financial system at the micro level—one capable of responding to various risks and minimizing their negative consequences for the national economy. This article examines the theoretical foundations of financial support for agro-industrial enterprises and justifies its role in the system of managing the development of business entities. It traces the evolution of scientific approaches to interpreting the concept of “financial support” and systematizes them according to key conceptual directions. The differences between the categories of “financial security” and “financial support” are substantiated, and the feasibility of transitioning from a stabilization-oriented concept of financial security to a process-oriented model of financial support is demonstrated. The author proposes a definition of financial security for agro-industrial enterprises that takes into account the industry’s specific characteristics, the seasonality of production, the length of the production cycle, and the high level of natural, climatic, market, and financial risks. The classification of financial support functions has been refined by adding investment and control functions to it. The key features of financial support for agro-industrial enterprises have been identified, and an expanded production-integrated cycle has been developed, covering the resource-supply, agricultural production, processing and production, storage and logistics, marketing and sales, and investment and reproduction stages. For each stage, the specific financial needs, sources of financing, and major financial risks are described. The necessity of a comprehensive approach to managing the financial resources of agro-industrial enterprises is substantiated; this approach ensures increased capital efficiency, financial stability, investment activity, and competitiveness in the face of modern economic challenges.