Approaches in assessing the investment attractiveness of small towns of Russia

Abstract

Effective use of the territories’ resources depends on the development of small- and medium-sized business as the basis of high economic activity of the local population. In Russia small and medium-sized business is a priority vector of economic development, a factor of the gross domestic product increase, and of unemployment decline. The article describes a methodological approach to assess the development of small scale and medium-sized enterprises of the territory bearing in mind the adaptation of some known methods to the peculiarities of the regional economy. The authors also assessed the investment potential and investment attractiveness on the example of the town of Barabinsk of the Novosibirsk Region. The article proves that small and medium business has great potential for further development, giving rise to many promising projects; still the paper reveals some actual problems delaying the process of small and medium-sized enterprises expansion. In the conclusion some activities for further promotion and stimulation of small and medium business development in the town of Barabinsk are proposed.