EXPORT DEVELOPMENT OF UKRAINIAN AGRI-SMES THROUGH CREDIT AND GUARANTEE INSTRUMENTS

Abstract

The relevance of this study is determined by the increasing importance of enhancing the export capacity of small and medium-sized enterprises (SMEs) in Ukraine in conditions of wartime economic disruption. The objective of the research is to assess whether the export potential of Ukrainian agri-SMEs can be enhanced through the introduction of credit and loan guarantee instruments, with a particular focus on their integration into value chain structures and access to international markets, including Canada. Methodology. This study takes a mixed-methods approach, combining statistical analysis and desk research with stakeholder consultations involving SMEs, financial institutions and sectoral organisations. The analytical framework incorporates value chain analysis, financial intermediation theory and a programme-oriented approach to economic development, paying particular attention to the role of SMEs in the social economy. Results. The findings demonstrate that Ukrainian agri-SMEs have significant but underutilised export potential. The main constraints are not related to market demand, but rather to limited access to tailored financial instruments, weak coordination within value chains and the high perceived risk of lending to SMEs. The study shows that, unless they are combined with guarantee mechanisms and institutional strengthening of financial intermediaries, credit instruments alone are insufficient to activate export growth. Practical implications. The results suggest that integrating credit and guarantee instruments into value chain development can improve access to finance for SMEs, support investment in production and certification, and facilitate entry into export markets. This approach is particularly relevant when designing programmes aimed at economic recovery and trade expansion. Value/Originality. This study makes a valuable contribution to the existing literature by proposing a conceptual model of export activation that links financial instruments with value chain coordination and institutional capacity. It sheds light on SME development in times of crisis and emphasises the importance of financial innovation in fostering local economic resilience.