ОЦІНКА СТАНУ БІЗНЕС-СЕРЕДОВИЩА УКРАЇНИ У КОНТЕКСТІ ІННОВАЦІЙНОЇ ДІЯЛЬНОСТІ

Abstract

In this study, an analysis of the development prospects of innovatively active enterprises was carried out using the example of the most successful functioning Ukrainian enterprises. It is proposed to estimate the actual annual profit of the business using the indicator of economic added value, which is correlated with the indicators of the efficiency of innovative activity. The evaluation of the actual annual profit of the business using the indicator of economic added value (economic profit) is argued, since the accounting profit is not a qualitative characteristic of innovative development. An assessment of the profitability of the leading innovatively active enterprises was carried out – SE «Prozorro», LLC «Nova Poshta», JSC «Farmak», LLC «Scientific and technical complex «Metalurh», SE «Southern State Design and Research Institute of the Aviation Industry», PJSC «Interpipe». For the overall assessment of efficiency, the weighted average cost of capital, the indicator of economic added value, the return on capital of each of the analyzed enterprises, gross profit and net financial result were calculated. At the same time, it is noted that the cost of equity capital reflects the riskiness of investing in the company's equity capital, while the cost of debt capital is the risk of default by the company and tax benefits associated with the use of borrowed funds. An important remark in the context of this study is the assessment of innovative development, more specifically, the innovative activity of enterprises – in a relatively stable economic time that preceded the war in Ukraine. Because it is clear that a return to the previous indicators and surpassing them is possible only in a relatively stable economic environment. It remains obvious that the increase in the added value of products can be achieved by reducing the volume of intermediate consumption, with the help of improving integration processes, in the creation of chains of added value of products, renewal of production assets, scalability of enterprises, increasing the level of technical and technological equipment of Ukrainian enterprises. Proposals have been made regarding the general system of assessing the business value of innovatively active enterprises of Ukraine. This study is designed to outline the main prospects for the development of innovatively active enterprises of Ukraine.