Bìznes Inform (Apr 2024)
Innovative Approaches to the Support and Development of Small and Medium-Sized Businesses in the Regions of Ukraine
Abstract
The aim of this article is to study innovative approaches to the support and development of small and medium-sized enterprises (SMEs) in the regions of Ukraine. The development of SMEs is a prerequisite for the realization of Ukraine’s economic and innovative potential. An analysis and a generalization of scientific works of many scientists considering the integration of innovative instruments into the activities of small and medium-sized businesses have been carried out. The main aspects of the influence of small and medium-sized enterprises on the development of the country are systematized. Small and medium-sized businesses in Ukraine are a instrument for creating new jobs and self-realization of citizens, reducing unemployment, developing innovative business methods, influencing competition, saturating the market for goods, services and labor, and are the basis for the development of the national economy. It is determined that a perspective innovative way to stimulate the development of Ukrainian SMEs is the organization of an ecosystem of their support. Social, resource and cognitive factors motivate SMEs to participate in the ecosystem. By participating in the ecosystem, SMEs benefit from networking, collaboration, communication and information sharing. These include various factors related to social interactions between ecosystem participants that contribute to business growth and development. Other factors include access to resources, formal and informal support, and market access. Finally, cognitive factors are related to the goals and values shared by the participants in the ecosystem. Another important instrument is business incubation. The current status of business incubation in the policy of supporting SMEs should be recognized as the initial stage in the development of a distinctive local economy. In addition, start-ups are becoming increasingly important, especially given the need to implement modern, profitable and innovative projects in the form of innovative SMEs. To stimulate venture capital investments at the national level, it is proposed to intensify efforts to create favorable conditions for generating business ideas and turning them into innovations in demand by the investment community. In the future, it is recommended to consider the issue of attracting innovative technologies in the post-war reconstruction of the economy.
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