Public-type MFOs as an element of financial system

Abstract

The subject of the research is to define the structure of microfinance organizations (MFOs) with the Russian Region’s authorities within the founders (participants, shareholders). The aim of the paper is to define the role of the public-type MFOs, including the problems of their accounting, identification and supervision as an independent element of the MFOs market. The relevance of the research is due to the lack of list of public-type MFOs, the need of State Entrepreneurship Financial Support Policy control and measurement in the context of the new coronavirus infection and sanctions. The scientific novelty emerges, as there is no research about the public-type MFOs as the solid part of the Russian MFO market. The author develops an algorithm to identify public-type MFOs, analyzes the composition of this segment compared to the MFO Market structure in general. The author uses methods of statistical and content analysis, public data bases (the State Register of Legal Entities, registers of MFOs by the Bank of Russia, the Register of Infrastructure for SME Support). The results are the list of public-type MFOs, determination of the composition of this segment compared to the MFOs system as a whole. The author concludes that public-type MFOs have greater non-commercial orientation of this segment, its geographical distribution and its compositional unity in terms of organizational and legal forms and forms of ownership. The author recommends: to identify the RSMB Corporation in charge of the List of the public-type MFOs, to involve MFOs, created by the local authorities, into the SME Support activities, and public-type MFOs — into the preferential bank-loans Programs.

Keywords

• entrepreneurship support
• financial support
• sme
• microfinance organizations
• mfo
• public-type mfo