IDEAS home Printed from https://ideas.repec.org/a/ssi/jouesi/v8y2021i4p742-756.html
   My bibliography  Save this article

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

Author

Listed:
  • 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)

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.

Suggested Citation

  • Irina Skuratovych & Nataliia Lytvyn & Iryna Panova & Ievgen Ovcharenko & Olena Hryhorevska, 2021. "Efficiency of using the potential of small business in ensuring sustainable economic growth," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(4), pages 742-756, June.
    • Handle: RePEc:ssi:jouesi:v:8:y:2021:i:4:p:742-756
    DOI: 10.9770/jesi.2021.8.4(46)
    as

    Download full text from publisher

    File URL: https://jssidoi.org/jesi/uploads/articles/32/Skuratovych_Efficiency_of_using_the_potential_of_small_business_in_ensuring_sustainable_economic_growth.pdf
    Download Restriction: no
    File URL: https://jssidoi.org/jesi/article/852
    Download Restriction: no
    File URL: https://libkey.io/10.9770/jesi.2021.8.4(46)?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. International Monetary Fund, 2020. "Ukraine: Request for Stand-by Arrangement-Press Release; Staff Report; and Statement by the Executive Director for Ukraine," IMF Staff Country Reports 2020/197, International Monetary Fund.
    2. International Monetary Fund, 2018. "Angola: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Angola," IMF Staff Country Reports 2018/156, International Monetary Fund.
    3. International Monetary Fund, 2021. "Kenya: Requests for an Extended Arrangement Under the Extended Fund Facility and an Arrangement Under the Extended Credit Facility-Press Release; Staff Report; and Statement by the Executive Director ," IMF Staff Country Reports 2021/072, International Monetary Fund.
    4. International Monetary Fund, 2021. "Georgia: Eighth Review Under the Extended Fund Facility Arrangement-Press Release; and Staff Report," IMF Staff Country Reports 2021/079, International Monetary Fund.
    5. International Monetary Fund, 2019. "Ukraine: Request for Stand-By Arrangement and Cancellation of Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Ukraine," IMF Staff Country Reports 2019/003, International Monetary Fund.
    6. International Monetary Fund, 2019. "Pakistan: Request for an Extended Arrangement Under the Extended Fund Facility-Press Release; Staff Report; and Statement by the Executive Director for Pakistan," IMF Staff Country Reports 2019/212, International Monetary Fund.
    7. International Monetary Fund, 2021. "Algeria: 2021 Article IV Consultation-Press Release; and Staff Report; and Statement by the Executive Director for Algeria," IMF Staff Country Reports 2021/253, International Monetary Fund.
    8. Rodrigo Canales, 2016. "From Ideals to Institutions: Institutional Entrepreneurship and the Growth of Mexican Small Business Finance," Organization Science, INFORMS, vol. 27(6), pages 1548-1573, December.
    9. International Monetary Fund, 2020. "Brazil: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Brazil," IMF Staff Country Reports 2020/311, International Monetary Fund.
    10. David Audretsch & Diana Heger & Tobias Veith, 2015. "Infrastructure and entrepreneurship," Small Business Economics, Springer, vol. 44(2), pages 219-230, February.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Alexander Kentikelenis & Thomas Stubbs, 2022. "Austerity Redux: The Post‐pandemic Wave of Budget Cuts and the Future of Global Public Health," Global Policy, London School of Economics and Political Science, vol. 13(1), pages 5-17, February.
    2. Wa’ed Alshoubaki & Michael Harris, 2021. "Jordan's Public Policy Response to COVID-19 Pandemic: Insight and Policy Analysis," Public Organization Review, Springer, vol. 21(4), pages 687-706, December.
    3. Ramaharo, Franck M., 2021. "A simple macroeconomic framework for Madagascar," MPRA Paper 112092, University Library of Munich, Germany.
    4. Talknice Saungweme & Nicholas M. Odhiambo, 2021. "Inflation and Economic Growth in Kenya: An Empirical Examination," Advances in Decision Sciences, Asia University, Taiwan, vol. 25(3), pages 1-25, September.
    5. Talknice Saungweme & Nicholas M. Odhiambo, "undated". "Inflation And Economic Growth In Kenya: An Empirical Examination," Working Papers AESRI04, African Economic and Social Research Institute (AESRI).
    6. Talknice Saungweme & Nicholas M. Odhiambo, 2021. "Inflation and Economic Growth in Kenya: An Empirical Examination," Advances in Decision Sciences, Asia University, Taiwan, vol. 25(3), pages 1-25, September.
    7. Liudmyla Lukashova, 2020. "Facilitation of small business development as a means of combating labour migration," Technium Social Sciences Journal, Technium Science, vol. 11(1), pages 180-202, September.
    8. David Bruce Audretsch & Maksim Belitski & Georg Maximilian Eichler & Erich Schwarz, 2024. "Entrepreneurial ecosystems, institutional quality, and the unexpected role of the sustainability orientation of entrepreneurs," Small Business Economics, Springer, vol. 62(2), pages 503-522, February.
    9. Héloïse Berkowitz, 2020. "Participatory Governance for the Development of the Blue Bioeconomy in the Mediterranean Region," Working Papers hal-02555685, HAL.
    10. Zhao, Xiaoyang & Weng, Zongyuan, 2024. "Digital dividend or divide: The digital economy and urban entrepreneurial activity," Socio-Economic Planning Sciences, Elsevier, vol. 93(C).
    11. Leendertse, Jip & Schrijvers, Mirella & Stam, Erik, 2022. "Measure Twice, Cut Once: Entrepreneurial Ecosystem Metrics," Research Policy, Elsevier, vol. 51(9).
    12. Zachary T. Keeler & Heather M. Stephens, 2023. "What matters for lagging regions? The role of self‐employment and industrial diversity in distressed areas," Growth and Change, Wiley Blackwell, vol. 54(4), pages 962-1001, December.
    13. Diana M. Hechavarría & Amy E. Ingram, 2019. "Entrepreneurial ecosystem conditions and gendered national-level entrepreneurial activity: a 14-year panel study of GEM," Small Business Economics, Springer, vol. 53(2), pages 431-458, August.
    14. Izzet Alp Gul & Gülgün Kayakutlu & M. Özgür Kayalica, 2020. "Risk Analysis in Renewable Energy System (RES) Investment for a Developing Country: A Case Study in Pakistan," Arthaniti: Journal of Economic Theory and Practice, , vol. 19(2), pages 204-223, December.
    15. Messono, Omang & Asongu, Simplice, 2021. "Historical Prevalence of Infectious Diseases and Entrepreneurship: the Role of Institutions in 125 Countries," MPRA Paper 111842, University Library of Munich, Germany.
    16. Ronja Kirschning & Matthias Mrożewski, 2024. "Revisiting the knowledge spillover paradox: the impact of infrastructure," Small Business Economics, Springer, vol. 63(1), pages 1-20, June.
    17. David B. Audretsch & Maksim Belitski & Georg Eichler, 2020. "Bilingualism and regional entrepreneurship," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 65(3), pages 787-806, December.
    18. Longpeng Zhang & Wei Jiang & Zhiwei Tang, 2019. "Study on the promotion effect of informationization on entrepreneurship: an empirical evidence from China," Journal of Global Entrepreneurship Research, Springer;UNESCO Chair in Entrepreneurship, vol. 9(1), pages 1-22, December.
    19. Falk, Martin & Hagsten, Eva, 2021. "Impact of high-speed broadband access on local establishment dynamics," Telecommunications Policy, Elsevier, vol. 45(4).
    20. Briglauer, Wolfgang & Dürr, Niklas S. & Falck, Oliver & Hüschelrath, Kai, 2019. "Does state aid for broadband deployment in rural areas close the digital and economic divide?," Information Economics and Policy, Elsevier, vol. 46(C), pages 68-85.

    More about this item

    Keywords

    sustainable economic development; innovative business; potential; labor migration; efficiency;
    All these keywords.

    JEL classification:

    • K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
    • L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ssi:jouesi:v:8:y:2021:i:4:p:742-756. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Manuela Tvaronaviciene (email available below). General contact details of provider: .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.