Abstract
Enhancing economic security of regions is crucial for the development of the whole country, which is what makes research in this sphere particularly important. This study aims to analyze and compare the economic security data on the regions constituting the Ural Federal District (Russia). In contrast with current studies in the field, we are conducting detailed analysis of the factors that affect the development of small and medium-sized enterprises (SMEs) and business climate in the regions. The conceptual framework of this research relies on entrepreneurship theories and theoretical approaches to analysis and evaluation of regional economic security. We develop methodology based on sets of quantitative and qualitative indicators and apply analytical, comparative and statistical methods as well as the method of expert evaluation. The data are provided by the regional statistic services and business support foundations. We also analyze regional support programs for small and medium-sized businesses. We found that all regions of the Ural Federal District are characterized by the medium (acceptable) level of economic security and moderate risk. In the economic security ranking, Tyumen region is at the top while the second place is occupied by Sverdlovsk region; Chelyabinsk and Kurgan regions are at the bottom.
Highlights
Global economic instability has made the question of regional economic security crucial for the prosperity of countries
Economic security of regions depends on multiple factors and conditions, which include the quality of the human capital, the general level of economic development and associated processes, the quality of the infrastructure, the availability and diversity of resources, political stability and so on
Let us look at the level of economic security in Sverdlovsk region in 2016 by focusing on small and medium-sized businesses (SMEs) development indicators
Summary
Global economic instability has made the question of regional economic security crucial for the prosperity of countries. The region’s attractiveness for investment and the level of entrepreneurial activity are important factors for its economic security. The vast majority of studies confirm that small and medium-sized businesses (SMEs) are among the key drivers of economic growth. There is evidence that does SME development positively affect the general economic performance of the region, and has a significant social impact, which is crucial for regional and local economy. The development of SMEs and self-employment is an important factor that determines the region’s economic security. There is, a lack of adequate methodology to evaluate the impact of SME development on the level of economic security and our study is going to address this issue
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