The article is concerned with identifying and studying factors affecting digital business formation and development process in order to form tools for affecting the digital business. The novelty of this research paper is establishing causes increasing the volume of digital business and the dependence of its growth rate on the existing factors. The authors define the concept of digital business as an entrepreneur activity (providing electronic commerce, electronic services) in the Internet for making a profit with the help of information and communication technologies that blur boundaries between the real and virtual worlds. The digital business structure is studied and analysed. It is generally distinguished 4 sectors (electronic financial services; electronic commerce; electronic education and training; other electronic transactions). The authors prove that modern digital business model has been transformed from a 4-sectoral into a 3-sectoral one, including electronic commerce, electronic financial services, electronic education and training. It is suggested to study and define factors affecting the development of digital business according to seven- stage sequence of digital business evaluation. The hypothesis concerning a set of digital business factors is proposed and 24 factors affecting digital business are identified, among which 8 factors mostly affect the digital business market of the European Union. The authors also distinguish influencing factors which are common for all three sectors of digital business, such as: Internet use by individuals, proportion of people using the Internet to order goods or services, the level of household Internet access. The methodology of the given research is based on scientific and verification principles, comparative, structural and system analysis. Applying economic and mathematical methods, it has been investigated the correlation between the digital business and the main factors affecting it. The correlation density between the outcome feature and influencing factors using a determination coefficient is estimated. The given research proves that factors are multicollinear between each other. It has been revealed the correlation between the EU digital business volume and chosen factors.
1. Shpak Nestor, Odrekhivskyi Mykola, Doroshkevych Kateryna, Sroka Włodzimierz. Simulation of Innovative Systems under Industry 4.0 Conditions. Retrieved from: https://www.researchgate.net/publication/334085110_Simulation_of_Innovat...
2. Pyroh, O. & Horyachka, A. (2019). Global trends of e-commerce development. International Electronic Scientific Journal "Science Online", 2. Retrieved from: http://nauka-online.com/
3. Pyroh, O. & Horyachka, A. (2016). The development of e-commerce in terms of virtualization industry. Economics, Entrepreneurship, Management, 3, 1, 51-57.
https://doi.org/10.23939/eem2016.01.051
4. Gartner, Inc. Six Key Steps to Build a Successful Digital Business. Retrieved from: https://www.gartner.com/en/newsroom/press-releases/2014-05-21-gartner-id...
5. Castells Manuel. The Internet Galaxy: Reflections on the Internet, Business, and Society. Retrieved from: https://books.google.com.ua/books?id=Q1Mo3ObWWgC&printsec=frontcover&hl=...
6. Chaffey, D. & Hemphill, T. Edmundson-Bird David. Digital Business and E-commerce Management. Retrieved from:https://books.google.com.ua/books?hl=uk&lr=&id=oYufDwAAQBAJ&oi=fnd&pg=PT...
7. Cunningham, P. & Fröschl, F. Electronic Business Revolution: Opportunities and Challenges in the 21st Century. Retrieved from: https://books.google.com.ua/books?hl=uk&lr=&id=wzT6CAAAQBAJ&oi=fnd&pg=PA...
8. Kasatonova, I.A. Virtualnyi biznes kak pochva dlia razvytyia i ukreplenia rynochnykh pozitsyi predpriatyi v sfere elektronnoi ekonomiki [Virtual business as a basis for the development and strengthening of market positions of enterprises in the field of electronic economy]. Ekonomichnyi prostir [Economic space]: Collection of scientific works, №56/2 [in Russian].
9. Baburin, S. N. (2005). Rossiyskiy torhovo-economicheskiy slovar' [Russian trade and economical dictionary]. Ed. by S. N. Baburin, Moscow, Economist, 525. [in Russian].
10. Holubkov, E. P. (2002). Ispolzovanie Internet v marketinge. Marketing v Rossie i za rubezhom [Using Internet in marketing. Marketing in Russia and abroad], №3 (29). Retrieved from: http://www.mavriz.ru/articles/2002/3/315.html [in Russian].
11. Indrysov, M. N. & Shavshyna, S.A. Rynok onlain torgovli [Market of online trading]. Retrieved from: https://sibac.info/archive/economy/4(31).pdf#page=8[in Russian].
12. Yevtushenko, D. D. Elektronnyi biznes, elektronna komertsiia, Internet-torhivlia: sutnist ta vzaiemozviazok poniat. [Electronic business, electronic commerce, Internet trading: the nature and interconnection of concepts] Retrieved from: http://212.111.199.131/jspui/bitstream/123456789/275/1/business-inform-2... [in Ukrainian].
13. Fedyshyn, I. B. (2016). Elektronnyi biznes ta elektronna komertsiia (opornyi konspekt lektsii dlia studentiv napriamku «Menedzhment» usikh form navchannia) [Electronic business and electronic commerce (a keynote summary of lectures for students of Management in all forms of study)], Ternopil, Ivan Pulyuy TNTU, 97 [in Ukrainian].
14. Voronkova, V. H. (2015). Internet yak hlobalna tendentsiia rozvytku informatsiinoho suspilstva [The Internet as a global trend in information society development]. Collection of scientific works "Hileia: naukovyi visnyk" ["Guillaume: a scientific bulletin"], 93, 174. [in Ukrainian].
15. Zahorodniy, A. & Partyn, H. (2018). Crypto Currency - a Virtual Phenomenon which can Destabilize Financial Markets. Economics, Entrepreneurship, Management, 5, 2, 59-66.
https://doi.org/10.23939/eem2018.02.059
16. Chushak-Holoborodko, A., Didukh, O. & Zaderetska, R. (2018). Determining the Efficiency of the Financial Outsourcing Use by an Enterprise-Customer. Economics, Entrepreneurship, Management, 5, 2, 67-74.
https://doi.org/10.23939/eem2018.02.067
17. Yevrostat [Eurostat]. Retrieved from: https://ec.europa.eu/eurostat/data/database [in Ukrainian]