PRIORITY AREAS OF FINANCIAL SUPPORT FOR INVESTMENT ACTIVITIES OF AGRICULTURAL ENTERPRISES

Abstract

Purpose. The aim of the article is to develop the practical recommendations on formation of perspective directions of financial support of investment activity at agricultural enterprises. Methodology of research. The theoretical and methodological basis of the research is based on the use of basic principles of economic theory, scientific developments of leading scientists on the development of investment activity in the economic activity of enterprises. The following methods are used in the course of the research: general scientific (dialectical, abstract and logical, induction and deduction, scientific generalizations), which allowed to make theoretical generalizations about the nature, principles and types of investment activity; complex economic and statistical analysis (comparison, relative and absolute values, balance sheet), which allowed to determine the tendencies of development of the investment process and the influence of the main factors on it; systematic approach – to determine the main directions of improving the investment policy towards agricultural enterprises and conditions for their implementation. Findings. It is proved that the decrease in profitability of agricultural enterprises leads to the search for ways of accumulation of internal reserves for the formation of investment resources and activation of forms of external financing of investment activity. The results of the grouping of agricultural producers by the integrated indicator of their own financial resources indicate that in 2018, almost 21.5% of them do not have their own financial resources, which is negatively reflected in the performance indicators of production of basic agricultural products. Originality. The method of calculation of the integral index of own financial resources, which is defined as the sum of profit from financial and economic activity, depreciation and state support per 1 agricultural land, is offered in the article. In our opinion, the use of this indicator makes it possible to evaluate the financial support for agricultural production at the expense of own funds. Practical value. It is established that the main direction of the use of investment resources by agricultural enterprises is the implementation of projects for the construction and modernization of buildings and structures for industrial purposes, as well as the purchase of agricultural machinery and equipment. At the same time, there is a low activity of potential investors according to the financial flows to long-term biological assets in plant and animal husbandry, as well as lack of economic interest in financing activities related to environmental activities, increasing the fertility of the land, indicating that the level of development of investment activity at agricultural enterprises is insufficient. This requires the development of effective tools to mobilize the internal investment resources of enterprises, the formation of appropriate organizational support for investment processes. This requires the development of effective tools to mobilize the internal investment resources of enterprises, the formation of appropriate organizational support for investment processes.