Development of Small Business in Ukraine: Factors of Influence and Current Trends

Abstract

The article examines the main trends in the development of small entrepreneurship in Ukraine. The state of functioning of small enterprises during the period of pandemic and active hostilities on the territory of the State is allocated. On the basis of the carried out analysis, the main trends and regularities of functioning of small business entities have been formed. It is proved that not only the development of small entrepreneurship contributes to increasing the economic component of the development of the State, but it also reduces social tension in society due to the creation of jobs and employment. It is substantiated that the influence of external factors is regulated at the national or regional levels, while the influence of internal factors is regulated by the actions of an individual enterprise. It is determined that territorial communities and local self-government bodies play an important role in the development and support of small entrepreneurship, since it is the local milieu where the needs of small business are much better understood, as well as the influencing factors they encounter in their activities. It is determined that the introduction of new technologies that meet European standards and quality norms for domestic enterprises is a difficult task, primarily due to the lack of financial resources. The directions of improving the development and support of small business during the wartime and in the post-war periods of economic recovery are allocated. An algorithm for regulating the activities of small business entities has been proposed. Measures to stimulate the development of small entrepreneurship in financial, regulatory, and production areas are substantiated.

Keywords

• entrepreneurship
• small business
• stimulation
• development
• post-war recovery