Financing of innovative activities and their importance for the development of rural areas

Anna Rose and Patrician Zarebski

Village and Agriculture (Wieś i Rolnictwo), 2018, vol. 179, issue 2

Abstract: The development of rural areas, both in Poland and in Europe, is closely linked to entrepreneurship, and innovative activity is considered to be an increasingly important component of the pro-development process. However, this activity is limited by financial barriers, which is why it is particularly important to enable easy acquisition of financing for the development of activities in the field of innovation implementation. The aim of the article is to identify changes in the sources of financing of innovative activity in enterprises in Poland. To achieve the assumed objective, data from the Central Statistical Office, including the Local Data Bank and reports from enterprise reports from 2005–2016 were used. The following conclusions can be drawn from the conducted research: in the analyzed period, enterprises financed their expenditures from both private and public funds, among which there was an increase in the importance of high-risk funds and interest in EU funds. In the structure of financing of innovative activity and entities in the service and industry sectors, own funds dominated at a level exceeding 70%, followed by bank loans and funds obtained from abroad, while the share of budget funds was the smallest.

Keywords: Community/Rural/Urban; Development (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:ags:polvaa:344522

DOI: 10.22004/ag.econ.344522

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