Efficiency of using the potential of small business in ensuring sustainable economic growth

Irina Skuratovych (), Nataliia Lytvyn, Iryna Panova, Ievgen Ovcharenko and Olena Hryhorevska
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Irina Skuratovych: Yaroslav Mudryi National Law University, Ukraine
Nataliia Lytvyn: National University of the State Fiscal Service of Ukraine, Ukraine
Iryna Panova: Kharkiv National University of Internal Affairs, Ukraine
Ievgen Ovcharenko: Volodymyr Dahl East Ukrainian National University, Ukraine
Olena Hryhorevska: Kyiv National University of Technologies and Design, Ukraine

Entrepreneurship and Sustainability Issues, 2021, vol. 8, issue 4, 742-756

Abstract: In Ukraine, small business has not yet become the foundation of the national economy and an important factor of socio-economic development. The negative trends in the activities of small business in Ukraine include a decrease in the number of small enterprises, reduction of the number of employees in small enterprises, and worsening of financial results of their activities. The purpose of the paper is to sum up theoretical and methodical foundations and develop scientific and practical recommendations for improving the efficiency of using the potential of small business in ensuring sustainable economic growth. In the process of the study, the following general and special methods were used: dialectical method; method of system analysis; method of graphic analysis; and method of logical generalization of results. Improvement of the organizational and economic relations of small enterprises with large and medium enterprises was determined as one of the directions of increasing the efficiency of small business potential, and the formation of an integration model of business associations as a set of possible forms of interaction of small, medium and large enterprises and areas of integration was suggested. The role of small business in reducing labor emigration as a form of self-employment and employment was studied. Specifics of innovative activity in the small business sector in Ukraine were considered. In order to increase the efficiency of small business potential, the introduction of innovative incubators was suggested. It is advisable to use the practical results of the study for intensification of business activities, for the purpose of increasing the efficiency of using the potential of small business in ensuring sustainable economic growth of the country.

Keywords: sustainable economic development; innovative business; potential; labor migration; efficiency (search for similar items in EconPapers)
JEL-codes: K22 L21 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouesi:v:8:y:2021:i:4:p:742-756

DOI: 10.9770/jesi.2021.8.4(46)

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