Abstract

The article analyzes entrepreneurship in Ukraine. The number of small and medium-sized business entities is more than 99.9% of all entities, but their contribution to the country's economy is much less than that of large business entities. A significant number of enterprises in Ukraine receive losses (34.8%) and the most unprofitable are small enterprises, including micro-enterprises. Among the enterprises that suffered the most losses in 2020 are enterprises operating in the areas of temporary accommodation and catering, arts, sports, entertainment and recreation, real estate transactions, transport, warehousing, postal and courier activities. The main reason for this result is a pandemic COVID-19. However, some businesses have been less vulnerable: the pharmaceutical and chemical industries, the information technology industries, the financial and healthcare industries. Analysis of the number of small and medium enterprises in Ukraine according to economic activity showed that small business is mainly in the service sector, which requires fast investment, does not require significant investment, has the ability to optimize taxation and it is relatively easy to start a business. The regional distribution of entrepreneurship in Ukraine is uneven; the reasons for its unevenness are historical development and urbanization. The problems hindering the development of entrepreneurship are: the consequences of a pandemic, an unfavorable investment climate, the problem of complexity and uncertainty of legislation, corruption, the lack of a strategy for the development of enterprises in the real sector of the economy (especially industry), the complexity of tax administration, insufficient state support for entrepreneurship, low competition and monopolization of markets, low demand for products, lack of funds for doing business and poor availability of highly qualified personnel. The role of the state is dominant in solving problems. Recommendations for solving problems will help in the successful development of entrepreneurship in Ukraine.

Full Text
Published version (Free)

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call