Abstract

Previously, it was believed that industrial development is directly related exclusively to large enterprises. Scientists believed that future growth was possible only thanks to them. However, over time, small and medium- sized businesses began to develop actively. Due to lower risks, it is flexible to external and internal changes. In many countries, it is the main participant in national and regional development. The sector of small and medium-sized enterprises (SMEs) makes a significant contribution to the achievement of various socio-economic goals. It is such entities that produce a significant part of the gross domestic product and provide jobs. In most countries, they employ up to 70% of workers. Small enterprises solve the most important tasks for the successful functioning of the state, including creating a competitive economy. However, SMEs rarely enter the international market. This is due to limited resources to cover the high costs associated with entering the international level. Without small and medium-sized businesses, it is impossible to expand innovation, increase competitiveness and develop the country. SME entities have the right to receive financial, informational, and consulting assistance from the state. Small business is the most important link in the chain of a market economy.

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