Assessment of sectoral cost inflation for small, medium and large businesses

The transformation of the financial system following the changing situation in the segments of the world economy has affected one of the most important indicators: inflation. Inflation as a macroeconomic phenomenon has a significant impact on business activity through the cost of sources of industrial capital formation. Theoretical analysis. Fixed inflation is formed due to the impact of the following factors: the growth of human capital, logistics costs, the transaction effect, as well as the lack of necessary raw materials and supplies. Empirical analysis. Given the practical involvement of the authors in the construction sector of the economy, the availability of reliable arrays of data, in order to provide a deep and high-quality disclosure of the topic, to ensure the objectivity of the research results, the authors chose the construction industry as the base. As a result of the study, the estimated impact of inflationary pressure on various categories of business in the construction industry was revealed. Large business, in comparison with medium and small businesses, has greater opportunities to mobilize internal potential and reserves, thereby smoothing out inflationary pressure. Small and medium-sized companies are most exposed to industry inflation. Results. The result of the study was a proposal to introduce the concept of “industry inflation” into the conceptual apparatus of economic science. The authors managed to form a verified statistical database, as well as the indicator “SME-deflator coefficient” for each individual category of business, thereby providing a high-quality and accurate assessment of the impact of inflation on the financial model and cash flows of companies. The conclusions of the study can be used by the Ministry of Economic Development of the Russian Federation in forecasting the impact of inflation on the economy not by the average value, but by detailing the corrective dependence for each category of business based on industry affiliation; development of a full-fledged policy to support small and medium-sized businesses by the Government of the Russian Federation, state companies and regional authorities. As part of the applied value, the results of the study are used in the formation of a feasibility study for current construction projects of MasterStroy.