Implementation of financial instruments to support business activities in the northern region

In recent years, the development of entrepreneurial activity in the northern regions has become relevant. At the same time, there is a problem of providing financial support to small and medium-sized businesses, which can be solved by researching them, identifying key problems and improving its mechanism. The aim of the work is to systematize and analyze the implementation of financial instruments to support entrepreneurship at the regional level (on the example of the Vologda Oblast). When writing the article, theoretical (comparison, systematization, generalization) and empirical (graphical, statistical observation, comparative analysis) methods were used. Scientific novelty lies in the application of a quantitative approach to the analysis of the implementation of financial instruments aimed at supporting entrepreneurial activity in the northern region. The idea of using this approach is to describe the identified issues by means of quantitative values extracted from the statistical database of the register of state support recipients. The article presents a model of the financial mechanism for supporting entrepreneurial activity at the regional level. An assessment of the implementation of financial support for this activity in the Vologda Oblast, is given. The main instruments of this support in the region are identified. The problems of implementation of these tools are indicated. Directions for improving the financial mechanism for supporting entrepreneurial activity in the region are proposed. The results of the study can be applied by researchers, graduate students when studying problems of similar subjects, as well as representatives of regional authorities in the context of improving financial policy aimed at supporting entrepreneurial activity in the northern regions.