Purpose. The purpose of the study is to evaluate the current state of small business and identify the main problems of its development. The authors of the article investigate the features of the regulatory and legal framework for small business activities in Ukraine, analyze its current state, and determine its role in the national economy. Particular attention is paid to state support, access to financial resources, and the prospects of digitalization.
Design/methodology/approach. The article uses the document review method to study and analyze the legislative acts that regulate small business activities in Ukraine. This method is also applied to analyze the dynamics of the number of large, medium, and small business entities in Ukraine from 2014 to 2022. The methods of systematization and generalization were used to analyze and establish the key problems and conditions for the development of small business.
Conclusions. The authors conclude that it is necessary to improve the regulatory framework and develop comprehensive support measures to strengthen the role of small business in ensuring economic stability and innovative development in Ukraine. It is also noted that, despite the destructive impact of the war, micro, small, and medium enterprises (MSMEs) have shown exceptional resilience. Although many enterprises temporarily suspended their activities, most of them resumed work, and only 9.6% were at risk of complete closure as of October 2023.
Practical implications. The analysis of the current state of small business in Ukraine makes it possible to identify the main trends, determine the strengths and weaknesses of the sector, and formulate directions for improving its regulatory, institutional, and economic environment. This is a prerequisite for developing effective mechanisms to support small business and strengthen its role in the recovery and modernization of the national economy.
Originality/value. The value of the article lies in the comprehensive analysis of regulatory support and the evaluation of the current state of small business in Ukraine, which allows for identifying key problems, development prospects, and formulating recommendations for improving state policy. The article demonstrates that small business is an important component of a modern market economy, contributing to flexibility, job creation, and the development of competition. It also emphasizes that, despite the challenges, including the war, entrepreneurs continue to adapt, develop new forms of activity, and implement digital technologies.
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