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7 Kaliningradskaya St., St. Petersburg, 198903


3.2. Business Financing Financing of commercial (entrepreneurial) activity of the managing subject or association of managing subjects means maintenance of corresponding operational or investment activity of the subject in necessary volume of money resources or, generally, financial resources, sufficient for performance of business projects planned by it. The main characteristic of the financial resources is their cost for business. Investments Investments is long-term spending of financial, labor and material resources for the purpose of increasing and getting profit. Investments ensuring dynamic development of a company allow for decision of the following tasks: + increasing business activities by accumulation of more financial and material resources; + purchase of new companies; + diversification by learning new business areas. All investments can be divided into two main groups: Portfolio investments are capital investments in the group of projects, for example, purchase of the securities of different companies. Real investments are financial investments in a specific and, as a rule, long-term project linked with the purchase of real assets. Types of investments: + starting investments; + investments on expansion; + re-investments, allocation of free funds for the acquisition of new fixed assets; + investments in the change of fixed assets; + investments in diversification and so on. Stocks. Initial public offering According to the Federal Law No. 39-FZ of 22/04/96 ÂŤAbout the security marketÂť a stock is an emission security fixing the rights of its owner to receive a part of profit of the jointstock company in the form of dividends, to participate in the management of the joint-stock 116  

1. STATE AND MUNICIPAL AUTHORITIES IN ST. PETERSBURG In St. Petersburg the system of state authorities was formed which has statutory object...