Russian Federation
The relevance of the study is due to the increasing role of small and medium-sized enterprises as a key factor in the sustainable development of regions in the context of geopolitical tensions, import substitution and economic restructuring. In the Republic of Dagestan, as in other regions of the North Caucasus Federal District, significant barriers to access to finance remain, which increases the importance of state microfinance mechanisms. The purpose of the study is to analyze the dynamics of microfinance support for SMEs in the Republic of Dagestan in 2021-2024, as well as to identify the specifics of the regional model, its effectiveness and areas of improvement. The research uses methods of statistical analysis, comparative analysis, and generalization of data from the Ministry of Economic Development of the Russian Federation, Rosstat, and the Regional Entrepreneurship Support Fund of the Republic of Dagestan. The results of the study include the identification of a high concentration of loans in social entrepreneurship and agriculture. In conclusion, measures are proposed to improve financial accessibility, including expanding targeted programs, digitalizing applications, and strengthening monitoring of the effectiveness of loans issued.
small and medium-sized enterprises, microfinance, Republic of Dagestan, government support, microloans, regional economy, financial accessibility, agro-industrial complex
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