Economy of Ukrainian business in modern conditions

Abstract

The article analyzes the state of the Ukrainian business economy in modern conditions. The importance of business in the development of the national economy is revealed. The authors note that the development of domestic business occurs under the influence of internal and external factors. Since 2013, important organizational changes in the economic and political environment have taken place in Ukraine. In the winter of 2014, the army of the russian federation invaded to the territory of Ukraine, annexing the Crimean Peninsula and capturing territories in the east of the state. Russian aggression against Ukraine in 2014–2015 caused an economic crisis. It was small business that played an important role in the development of the national economy at that time. It covered enterprises of all sectors – from production to the provision of services. Government support for small businesses in crisis situations has become important. Individual entrepreneurs and other representatives of small businesses began to actively develop their activities, and budget revenues increased. The restoration of the economic component of the national business began in 2016. 2019 was a successful year for Ukraine, but the SME sector in Ukraine needed to be reformed and changed in structure. A new test for Ukrainian business in 2020 was the spread of the Covid-19 pandemic. It has become a serious challenge for the functioning of business both for Ukraine and many countries of the world. Many enterprises had to reduce their activity, and some even cease their activities. The coronavirus has made its own adjustments to the development of the national economy of the world. In 2021, the effects of the economic crisis were fading both in the world and in Ukraine. But in February 2022, the Ukrainian economy suffered a new shock – a full-scale russian invasion of the territory of a sovereign country. As a result, production was reduced, logistics was disrupted, marketing, social and engineering infrastructure was destroyed. Due to the direct threat to life in Ukraine, there is an outflow of the economically active part of the population abroad. The authors note that it is in these difficult times for Ukraine that it is important to maintain and support the national economy at the proper level and bring the main indicators to the pre-war level in the near future.