SOURCES OF FINANCING OF THE INVESTMENT ACTIVITY OF THE ENTERPRISE AND THE PECULIARITIES OF THEIR ATTRACTION

The article considers the peculiarities of attracting sources of financing for investment activity in modern conditions. The expediency of investment activity and its dependence on the conditions of its realization are determined. The activation of investment activity of enterprises implies the revitalization of capital investment processes to strengthen the potential of industrial enterprises. Investment activity is important not only for each enterprise individually, but also for the country as a whole, as it creates the basis for sustainable economic growth. Based on the analysis of data on capital investments by sources of financing in Ukraine, it is established that a significant decrease in these indicators negatively affects the possibility of economic growth of domestic enterprises, leads to a reduction in the production of competitive domestic products, and reduces the innovation potential of the State as a whole. The article substantiates the need to analyze the sources of financing of investment activities, to search for cheap sources of financing, and formulates the criteria for assessing alternative sources of financing of investment activities. The criteria for evaluating sources of investment resources were formed taking into account the ratio of results and costs in the process of investment, determining the price of capital and investment risks; possible changes and redistribution of management functions, features of the existing innovative potential of the enterprise and the main provisions of the investment strategy of the enterprise. Within the framework of the investment development strategy, an enterprise determines the most important objects of activity, which allows concentrating most of the investment resources and maintains financial stability in times of shortage of funds. In this regard, the article distributes the sources of financing of investment activities by priority of their use, which contributes to the growth of the innovative potential of enterprises, creates prerequisites for intensifying the investment activities of business entities, takes into account external and internal factors of increasing the efficiency of both operating and investment activities of enterprises. The management of the process of attracting sources of financing for investment activities should include a constant search for new sources of financing, both in the money and financial markets, and the use of new financial instruments, which will increase profitability and maintain the optimal ratio of own and borrowed sources of financing of the enterprise.