Innovation management. Internal sources of financing innovation activities (most important)

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Innovation management. Internal sources of financing innovation activities (most important)

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41. INTERNAL SOURCES OF FINANCING INNOVATION ACTIVITIES

The development of innovative companies largely depends not only on the form of activity, but also on financial support.

Attracting investments is one of the most important tasks facing an organization engaged in innovative activities.

All sources of financing, whether they are enterprises, various funds or individuals, are involved in the economic process and in one way or another contribute to the development of innovative activity, which means that they can significantly affect the development of an innovative company.

Funding sources can be divided into the following types:

▪ state resources;

▪ resources of enterprises and other economic entities.

Any investor who has invested his capital expects to make a profit. And before investing, he will carefully check the subject of financing. Therefore, companies do not always have a chance to receive large funds from investors. And in order to still be able to carry out innovative activities, the company uses internal sources of financing for innovative activities.

We need to consider internal sources, i.e., the resources of enterprises and other economic entities.

These sources include:

▪ own funds;

▪ borrowed;

▪ attracted.

Own funds - this is the profit received by the organization, depreciation, intangible assets, temporarily free fixed and working capital, various funds aimed at expanding production.

Borrowed funds are budget, bank or commercial loans.

The funds raised are earmarked contributions, profit from the sale of own shares, etc.

First of all, the enterprise tries to use its own funds for the development of innovations, but this is not always possible, therefore, most often, companies resort to obtaining various loans and credits, counting on making a profit from the introduction of innovations and repaying debt with payment of interest rates.

There is also another option for obtaining borrowed funds - venture capital. It is a purchase by funds of issued shares and bonds of the company, not designed for quick profit, but enabling the company to develop, effectively carry out activities, which will ultimately lead to the greatest profit.

Thus, it can be concluded that, using internal sources of financing, the company is quite capable of effectively implementing innovative activities, expanding production, introducing and applying new technologies.

Authors: Evgrafova I.Yu., Krasnikova E.O.

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