Influence Of Macroeconomic Factors Research Articles

Analysis of the Influence of Macro Economic Factors on the Financial Performance of the Nadira Fashion Company in Randugunting Village, Bergas District, Semarang Regency

This study investigates the relationship between macroeconomic factors and the financial performance of Nadira Fashion Company, located in Randugunting village, Bergas subdistrict, Semarang district. As a fundamental social necessity, clothing is intricately linked to daily life, with fashion trends evolving continually in the modern era. Despite its prominence, the fashion industry faces challenges influenced by macroeconomic conditions that impact company performance and value. Through path analysis utilizing data from banking financial reports and Indonesia's economic growth reports for 2021-2022, this research explores the impact of macroeconomic variables such as economic growth, inflation, interest rates, exchange rates, and government policies on Nadira Fashion Company's financial performance. The findings reveal that while fundamental macroeconomic factors may not significantly influence Nadira Fashion Company's financial performance or value, the company's internal financial metrics, notably profitability measured by return on equity (ROE), demonstrate a substantial positive correlation with company value. These results highlight the importance of considering company-specific factors alongside macroeconomic variables in assessing financial performance and value in the fashion industry. The study provides valuable insights for investors, policymakers, and business managers, aiding in strategic decision-making and risk management. Ultimately, by understanding the interplay between macroeconomic conditions and company dynamics, stakeholders can navigate challenges effectively and capitalize on opportunities for sustainable growth in the fashion sector.

APPROACHES TO THE PLANNING OF THE FINANCIAL ACTIVITIES OF THE BANK IN THE CONDITIONS OF MACROECONOMIC INSTABILITY

The article outlines the main shortcomings of modern financial planning and identifies directions for improving its organization by banks. It was found that the planning process consists in systematically setting goals and determining the structural sequence of measures to achieve them. In addition, planning makes it possible to define tasks to ensure the efficient functioning of the bank in the long term and quick adaptation to the changing conditions of the external environment. The success and efficiency of banking activity is conditioned by the establishment of priorities, a list of financial services, banking products and means of their promotion on the market, which must be decided in the planning process. Therefore, the process of financial planning should determine the main directions of formation and use of the bank's financial resources and establish the principles of formation of financial relations with business partners. In order to increase the bank's operational efficiency, the planning methodology should ensure the preparation of a financial plan that reflects changes in the microenvironment under the influence of macroeconomic factors in monetary terms. The necessity of carrying out planning on the basis of regulatory cost management methods is formulated and an approach to determining the conditions of the bank's break-even operation is proposed. On the basis of the planning problems identified during the research, the application of a system of methods, which clearly delimits the scope of application for each of the selected methods, is substantiated. An important aspect of planning is the management of cash flows, which occupies a central place in ensuring the efficiency of banks' activities, managing their cost and increasing financial flexibility. When preparing a financial plan, attention should be focused on the scenario method, which allows a better understanding of the evolution of the macroeconomic environment and factors of potential threats to the bank. The scenario methodology will allow to increase, predict and develop the bank's flexibility and adaptability to various changes, which is especially important during macroeconomic instability.

The Influence of Macroeconomic Factors on the Export of Cereal Crops in Foreign Trade Activities Individual Countries

Aims: The aim is to analyze the impact of macroeconomic factors on the dynamics of realizing the foreign trade potential of companies based on vector autoregression and the formation of strategic priorities for the companies’ economic activities. Methods: The research methodology is based on the application of methods of time series analysis and impulse response functions. The Granger causality test was used for the linear causal relationship between the analyzed indicators. The study used statistical data for the period 2001–2020 in the annual section of the World Bank Trade Map portal. Results: It is shown that the innovative development of the country contributes to an increase in non-raw material trade with countries geographically close to its borders. It was revealed that the level of agricultural development of the importing country influences the import of cereals with a lag effect of 3–4 years. Justified: The intensification of export-import operations contributes to the development of the production potential of countries as a whole, creating great potential for enhancing the economic activity of agricultural companies and creating incentives for the development of the economies of the country's regions. It has been determined that the foreign trade system is an equilibrium system that returns to a stable state 2-3 years after the shock impact of exogenous and endogenous factors. Novelty: The novelty of the study lies in the assessment of the dynamic impact of the shock impact of exogenous and endogenous factors on macroeconomic indicators, taking into account the specifics of the foreign trade turnover of countries. Conclusion: The results of the study can be used to develop a strategy for the development of foreign trade activities, including grain crops for both countries, to realize more reliable forecasting of foreign economic transactions with a lag of 3-5 years. Doi: 10.28991/HEF-2023-04-04-08 Full Text: PDF

The Influence of Macroeconomic Factors on the Effectiveness of Manufacturing Company Share Prices in Indonesia: A Case Study at PT Mustika Ratu Tbk.

Beauty industry sector in Indonesia can be used as a profitable investment location for both local and foreign investors. The Investment growth levels in a country can be influenced by the level of economic growth in the country concerned. The capital market is an activity that occurs in the economic market which is used for various financial instruments that have long term terms with a time span of more than 1 year. A share is a sign of participation in capital that has been invested by a person or business entity in the company concerned. Inflation itself can be said to be a a situation when the price of an item is experiencing increase that occurs continuously and also occurs globally. In general, the rupiah exchange rate is a value or can also be called the price level of a country's currency which can be measured and expressed in another country's currency. The interest rate is an interest rate that has been determined and then issued by Bank Indonesia (BI) for the issuance of securities or certificates that will also be issued by Bank Indonesia. The research being carried out also has a goal, namely to be able to analyze the independent variables, namely inflation, the rupiah exchange rate and interest rates which can influence the dependent variable, namely the share price of the company PT Mustika Ratu Tbk. The method that can be used is Ordinary Least Squares (OLS). Data processing results show that this inflation rate variable can influence, but not significantly, the level of share prices in PT Mustika Ratu Tbk. The rupiah exchange rate has a significant effect influence on the share price of PT Mustika Ratu Tbk. The interest rate variable has no influence on the share price of PT Mustika Ratu Tbk.

The Influence of Macroeconomic Factors on Credit Risk of Banks in Indonesia using ARDL Model

One of the efforts to maintain economic stability during the Covid-19 pandemic is to reduce the risk of in the banking sector. One of the risks in the banking sector that must be anticipated is credit risk. Non-Performing Loan (NPL) is one of the indicators used to detect credit risk. There are various factors that can affect credit risk, both from internal and external banking. One of the external factors that can affect NPL is macroeconomic conditions. This study aims to identify macroeconomic factors that affect banking NPLs in Indonesia using the autoregressive distributed lag (ARDL) model. The data used is time series data from January 2015 – August 2020, which period describes the condition of the Indonesian economy before and during the Covid-19 pandemic. The data consists of six variables, namely the NPL ratio of commercial banks and macroeconomic factors in Indonesia such as gross domestic product (GDP), inflation rate, USD-IDR exchange rate, benchmark interest rates [BI 7-Day (Reverse) Repo Rate], and credit growth. The results of the data analysis show that the NPL ratio and macroeconomic variables are experiencing shocks due to the COVID-19 pandemic. The results of the ARDL model analysis show that these macroeconomic variables are able to explain the NPL of 66.61%

Effect of Cash Conversion Cycle on Company Profitability: A Study on Indonesian Food and Beverage Listed Companies

The Indonesian Food and Beverage industry is a dynamic and pivotal sector in the Indonesian business ecosystem, contributing significantly to the nation's economic growth and reflecting its cultural diversity. This paper delves into the relationship between the Cash Conversion Cycle and the profitability of Indonesian Food and Beverage listed companies. By examining this intricate connection, the study aims to provide valuable insights for financial managers, policymakers, investors, and researchers within this sector. This study used panel data regression with a purposive sampling method with a total of 687 samples that spans from 2007 until 2022. Data processing in this study uses Eviews 9. The research adopts Gross Profitability as a precise measure closely linked to working capital management and tests hypotheses related to the Cash Conversion Cycle components, including Days of Inventory Outstanding, Days of Sales Outstanding, and Days of Payable Outstanding. The findings reveal that Days of Sales Outstanding significantly and negatively impacts Gross Profitability, emphasizing the importance of efficient accounts receivable collection for profitability. Days of Inventory Outstanding, while marginally significant, also shows a negative association with Gross Profitability. In contrast, Days of Payable Outstanding does not exhibit statistical significance in explaining variations in Gross Profitability. These insights provide valuable guidance for managers in optimizing working capital management. Moreover, the paper recommends future research directions, including long-term analysis, industry-specific exploration, the influence of macroeconomic factors, comparative studies, and qualitative research to deepen our understanding of the Cash Conversion Cycle 's role in the Indonesian Food and Beverage industry and enhance financial management practices.

Sharia Stocks in Times of Crisis: A Study on the Influence of Macroeconomic Factors during the Covid-19 Pandemic

Indonesia offers various sharia-compliant stock options, with the Indonesian Sharia Stock Index (ISSI) being one such alternative. While ISSI instills confidence in investors by aligning with sharia principles, it does not automatically shield itself from macroeconomic challenges. Therefore, it remains crucial to consider macroeconomic factors when investing in Islamic stocks, especially amid the uncertainties of the Covid-19 pandemic. This study aims to explore the impact of macroeconomic factors on Islamic stock prices during the pandemic, employing a quantitative approach with secondary data. The variables encompass ISSI price (dependent), along with inflation, interest rates, and exchange rates (independent). The research involves descriptive statistics and Structural Equation Modeling (SEM) for inferential analysis, facilitated by the WarpPLS application. The findings reveal that, amid the Covid-19 pandemic, only the interest rates variable significantly and negatively influences ISSI.

Comparing Life Expectancy Determinants between Saudi Arabia and United Arab Emirates from 1980-2020.

Despite marked advancements, life expectancy (LE) growth in Saudi Arabia and the United Arab Emirates (UAE) has remained stagnant compared to other developed nations. This study aims to investigate the significant correlation between macroeconomic (ME), sociodemographic (SD), and health status and resources (HSR) factors and LE to formulate an explanatory model for Saudi Arabia and the UAE-a previously unexplored area. Utilizing an ecological, retrospective, time-series study design, we delved into secondary data on SD, ME, and HSR factors and LE of the populations of the UAE and Saudi Arabia spanning three decades (1980-2020). We employed partial least squares-structural equation modeling for statistical analysis. Our analysis revealed significant direct impacts of HSR factors on LE for Saudi Arabia (β = 0.958, p < 0.001) and the UAE (β = 0.716, p < 0.001). Furthermore, we discerned a notable indirect influence of ME factors on LE, mediated through SD and HSR factors for Saudi Arabia (β = 0.507, p < 0.001) and the UAE (β = 0.509, p < 0.001), along with a considerable indirect effect of SD factors on LE through HSR (Saudi: β = 0.529, p < 0.001; UAE: β = 0.711, p < 0.001). This study underscores the mediating role of a nexus of ME-SD-HSR factors on LE in Saudi Arabia and the UAE. Consequently, these findings signal an imperative need for holistic policy interventions addressing ME, SD, and HSR factors, aiming to alter health behaviors and improve LE projections for Saudi Arabia and the UAE in the long run.

Forecasting of financial risks of decline in profit and profitability of companies in the retail industry on the basis of correlation and regression analysis of macroeconomic factors

Aim. Development and realization of the innovative approach to forecasting of financial risks of profit and profitability decrease of retail industry companies on the basis of correlation and regression analysis of macroeconomic factors.Tasks. To identify and substantiate the macroeconomic risk factors of decrease in the retail trade turnover of the Russian companies of the retail industry; to develop a methodology of construction and build regression dependence of the total turnover of the companies of the retail trade industry in the Russian Federation (RF) on the macroeconomic factors; to define parameters of the analytical dependence of the retail trade turnover of the leading Russian retailers on the macroeconomic factors; to reveal and argue the position concerning the restrictions of application of correlation and regression analysis.Methods. The authors applied a systematic approach, providing a comprehensive study of the impact of macroeconomic factors on financial risks of profit and profitability reduction, as well as the correlation and regression analysis, methods of mathematical statistics and econometrics.Results. The methodology of estimation and forecasting of financial risks of profit and profitability decrease of the retail industry companies under the influence of external macroeconomic risk factors based on the use of the regression dependence of the retail industry companies turnover on the selected and grounded macroeconomic factors built in the present article is offered.Conclusions. The methodology of building regression dependences of retail turnover on external macroeconomic factors and the methodology of assessing the impact of these factors on the financial risks of reduced profit and profitability indicators proposed in the study are a methodological basis for forecasting changes in the results and efficiency of economic activities of companies in the retail industry and developing preventive measures aimed at reducing the financial risks of such companies. The quantitative assessments of the impact of macroeconomic factors on the retail turnover of leading Russian retailers obtained in the work allow to identify the most significant external macroeconomic risk factors for each of the companies and give a reasonable forecast of changes in retail turnover, profit and profitability indicators of these companies under the influence of macroeconomic factors.

АНАЛИЗ СОСТОЯНИЯ РЫНКА ДОПОЛНИТЕЛЬНОГО ОБРАЗОВАНИЯ В РОССИИ

The state of the supplementary education market is considered, the influence of macroeconomic factors on the supply and demand side is analyzed, and the prospects for the development of educational activities are assessed. In general, the market is assessed as promising with favorable macro-environment factors. The concept of continuing education is shared by all market participants. The number of enterprises providing educational services continues to grow in the industry, including due to the absence of entrance barriers.

ІНВЕСТИЦІЙНИЙ КЛІМАТ УКРАЇНИ В ПОВОЄННІЙ ВІДБУДОВІ

The article defines the importance of a favorable investment climate and the main prerequisites for attracting funds to the domestic economy in post-war reconstruction. Attention is focused on the results of investment impact on certain sectors of the economy, and which sectors require priority capital investments. The Index of Investment Attractiveness of our country and the problems affecting the formation of this Index have been analyzed. The directions of development of the investment climate in Ukraine during the war and in the post-war period have been highlighted. It has been found out about the creation of a unique electronic platform Advantage Ukraine for the purpose of attracting foreign investors to the Ukrainian economy, which collects more than 500 investment projects and opportunities in ten sectors of the economy. Among the possibilities that have been discussed are: the construction of "smart networks", the introduction of energy balancing capacities, gas extraction using advanced technologies, "green" metallurgy using direct recovery iron – these are things that can be implemented as a priority. The issue of guaranteeing the security of investments in war and post-war times remains the most painful issue today, which is one of the most restraining factors for investors. In addition, assumptions have been made about restoring the production potential of Ukraine's economy and creating a favorable business climate for attracting financial resources from abroad with the help of partner countries. The importance of restoring the inflows of direct foreign investments to overcome the consequences of Russian military aggression has been highlighted. The influence of macroeconomic factors on the investment activity of foreign investors has been outlined on the basis of a correlation-regression analysis of the influence of these factors on the inflow of foreign direct investment into the national economy. Directions for increasing the investment attractiveness of Ukraine's economy in modern conditions of development have been given. Based on the conducted research, ways of increasing the investment attractiveness of Ukraine in modern conditions have been proposed.

The Influence of Macroeconomic Factors on Residential Property Prices in Malaysia Before and During COVID-19

The macroeconomic environment directly and significantly impacts a country’s economy. For example, residential property prices in Malaysia have steadily increased in recent years. It has become a significant issue during the COVID-19 pandemic since a home is one of the essential items for each living human being. The research identified a few macroeconomic factors, such as Gross Domestic Product (GDP), private consumption, government expenditure, and household saving which influenced Malaysian residential property prices. The research applied a regression model to analyse the data to encounter the uncertainty problem related to Beaver univariance analysis. All data were collected by the Department of Statistics Malaysia, the National Property Information Centre (NAPIC), The World Bank Data, and other data streams. Then, the research was tested using the time series method to predict and forecast the model. Based on the findings, the research shows that the distribution data for all variables are not normal. Overall, the variables are significant using the time series regression with the level of significance at 1%, 5%, and 10%. All variables tend to have a positive impact on residential property prices. The findings have significant policy consequences. Hence, it is critical to understand the pathways through which housing influences the economy to develop beneficial policies, as housing price declines are frequently cited as the primary constraint on household expenditure.

Credit Risk in the Euro Area Compared to Other European Union Countries

Theoretical background: The article examines the microeconomic and macroeconomic determinants of credit risk in the European Union countries divided into two groups: countries that own the euro and countries outside the euro area. Purpose of the article: This study is to identify differences in the shaping of credit risk in the EU depending on the country's affiliation to the monetary union. Research methods: The statistical survey made it possible to identify significant differences between the mean values of the analyzed variables, and the econometric survey made it possible to identify differences in the determinants of credit risk in the two analyzed groups of countries. The study consisted of examining the occurrence of differences between the means for the collected variables and making the models using the GMM system. Main findings: Differences in the influence of macroeconomic factors on the credit risk of euro area countries and other European Union countries were shown. The main difference concerns the insensitivity of credit risk of euro area countries to changes in the foreign currency exchange rate, as well as the significant impact of inflation and unemployment on the credit risk of these countries.

The Influence of Macro Economic Factors on Stock Returns With Capital Structure as Intervening Variables in Lq 45 Manufacturing Companies

The Influence of Macro Economic Factors on Stock Returns With Capital Structure as Intervening Variables in Lq 45 Manufacturing Companies

EXPORT POTENTIAL OF THE TOURISM INDUSTRY OF UKRAINE: ASSESSMENT AND PROSPECTS OF DEVELOPMENT IN THE PERIOD OF POST-WAR RECOVERY

Objective. The objective of the article is to assess the current state of the export potential of the Ukrainian tourism industry, taking into account the full-scale military aggression of Russia against Ukraine in order to find directions for its development in the period of the country's post-war recovery. Methods. The following general scientific methods and techniques of cognition were used in the research process: theoretical generalization and comparison, analysis and synthesis, induction and deduction, grouping. Results. It was determined that the concept of "export potential of the tourism industry" should be understood as the maximum possible volume of export of the national tourism product, which is formed under the influence of macroeconomic, competitive and internal factors of the industry and is realized in the long term. A methodical approach to the integral assessment of the export potential of the tourism industry of Ukraine is proposed, taking into account macroeconomic, competitive and internal factors of influence, within which the integral indicator of the export potential of the tourism industry is proposed to be defined as the product of the average income from one foreign tourist and the indicator of the annual capacity of accommodation facilities, adjusted by the factor seasonality and the specific weight of the inbound tourist flow, the index of the influence of macroeconomic factors, the index of international competitiveness, and the indicator of the use of export potential, as a ratio of the actual level of income from the export of tourist services to the level of the export potential of the country's tourism industry. It is substantiated that one of the key macroeconomic factors of stimulating the demand for tourist services are safety factors.It is substantiated that the dynamics of the export potential of the tourism industry of Ukraine fully reflects the macroeconomic trends of the international tourism industry, demonstrating its growth to 4769.80 million dollars. USA in 2019, a sharp reduction to $2,458.15 million. USA in 2020 and growth to 6633.09 million USD. USA in 2021 due to a significant increase in the average income from one foreign tourist to $690.48. / person at the expense of foreign tourists from Saudi Arabia. It was established that the level of realization of the export potential of the tourism industry of Ukraine shows a decrease during 2017-2021 by 21.35%. It is substantiated that, taking into account the current conditions of the functioning of the Ukrainian tourism industry, the priority sectors of tourism development should be business, cognitive, in particular dark, mournful, since the routes associated with the war and iconic post-war locations such as Irpin, Bucha, Gostomel, which will forever remain a reminder to future generations, like Auschwitz or Babin Yar, medical and ecological tourism. It is substantiated that the restoration of the export potential of the tourism industry of Ukraine requires the improvement of organizational and personnel, informational, methodological and financial support for the development of tourism. The practical significance of the obtained results lies in the possibility of their use in the development of an updated strategy for the development of the export potential of the tourism industry of Ukraine and its implementation.

Comparing the Effect of Intangible Assets and Macroeconomic Parameters on the Stock Prices in Firms Listed on the Stock Exchange of Iran, Saudi Arabia and Iraq

Comparing the Effect of Intangible Assets and Macroeconomic Parameters on the Stock Prices in Firms Listed on the Stock Exchange of Iran, Saudi Arabia and Iraq

Determinants of bank profitability during oil price decline

This study examines the influence of macroeconomic factors, namely Inflation, Gross Domestic Production (G.D.P.) and changes in oil price and Bank-Specific Factors such as capital, asset size, liquidity risk, loan and deposit on bank profitability as measured by return on equity (R.O.E.) and net profit ratio (NPR) during the period of oil price decline, 2013-2017. The top 7 commercial banks were chosen as a sample of the study based on the availability of the data and the possible influence it can contribute to representing Oman's banking industry. The quantitative approach utilized appropriate statistical tools to analyze and interpret the secondary data gathered, including descriptive statistics, panel regression, Pearson correlation, and correlation matrix. Key findings of the study revealed no significant relationship between macroeconomic factors and the return on equity. There is also no significant relationship between macroeconomic factors and the net profit ratio. On the other hand, bank-specific factors significantly correlate return on equity and the net profit ratio. The study's findings contribute to the bank's management, economic policymakers, a research body, and academia in distinguishing the best indicator for a bank's profitability influenced by macroeconomic and bank-specific factors.

РЕГРЕССИОННЫЕ МОДЕЛИ ОЦЕНКИ ВЛИЯНИЯ ЭКОНОМИЧЕСКИХ ПОКАЗАТЕЛЕЙ НА ОБЪЕМЫ УСЛУГ В СФЕРЕ ИНФОРМАЦИОННЫХ И КОММУНИКАЦИОННЫХ ТЕХНОЛОГИЙ

The paper highlights the results of a regression model contest organized using the computing technology and presents the mathematical models of the impact of economic indicators (the cost of exported crude oil, petroleum products, natural gas, direct investment abroad and to Russia, the volume of GDP) on the amount of exports and imports of telecommunications, computer and information services (ICT). The choice of such output indicators in the model is stipulated by a significant growth of the ICT world market over the past decades. Besides, the relative growth of telecommunications, computer and information services is much more dynamic compared to services in the conventional spheres such as transportation, construction, and goods processing. Another important reason for choosing these particular indicators is a high level of participation of IT enterprises in the ICT services export. According to some estimates, about 2,000 firms in the in-dustry are involved. In other words, more than 60% of ICT enterprises in Russia are exporting their services to foreign countries, the most countries-importers of ICT services from Russia being the European countries and the United States. The amount of ICT services, as follows from the formal and meaningful analysis of the constructed models, is more than 50% provided by the level of de-velopment of the country's economy, in which GDP is the main indicator. At the same time, the dynamics of both export and import of telecommunications, computer and information services is also significantly influenced by the cost of exported raw materials: crude oil, oil products and natural gas. The models presented in the work can be effectively used for further detailed analysis of the influence of macroeconomic factors on the development of information and computer technologies and for solving a wide range of medium and short term forecasting problems.

Detecting speculative bubbles in metal prices: Evidence from GSADF test and machine learning approaches

The importance of metal prices to real economic activity and financial markets has increased the focus on detecting price bubbles in precious and industrial metals. Several studies looked at the influence of macroeconomic factors in the formation of a single metal bubble and tried to identify bubble dates. Our study extends the literature and analyzes monthly gold, platinum, palladium, rhodium, silver, and aluminum, copper, lead, nickel, steel, tin prices over 1980M1-2019M12, and contributes to the literature in two ways: First, the analysis incorporates the Generalized Supremum Augmented Dickey-Fuller (GSADF) test to detect potential bubbles. Second, the study evaluates the impact of potential financial, real, and speculative factors in the likelihood of price bubbles using the random forest method. Our findings indicate that financial factors are more critical in predicting precious metal price bubbles. The monetary policy rate and the production index are important to predict bubbles in industrial metal prices. However, our findings suggest that speculative activity may not adequately predict metal price bubbles.

Роль електронного бізнесу в розвитку національної економіки

The introduction of modern information and digital technologies gradually changes the conditions for the functioning of society, affecting virtually all aspects of its development. E-business as a direction of economic activity today is actively developing all over the world. A special impetus to its development was made by the COVID-19 pandemic and the extremely rapid development of these technologies in the sphere of payments, sales, marketing, etc. Precisely this situation actualizes the issue of in-depth study of the peculiarities of the development of e-business, its role in the development of the national economy. The development of e-business is determined by various factors, the main among which is the level of development of information and communication technologies in the country. That is to say their use allows to form new impulses for the development of the national economy, creation of new sectors of the economy, new markets for goods and services. Thus, the article identifies two dimensions of the description of the interaction between the e-business system and the national economy, namely: the measurement of exogenous impact – the impact of e-business on economic processes within the national economy system, and the measurement of endogenous influence – the influence of macroeconomic factors on the development of e-business, its development in an open, stochastic environment where other economic systems operate as well. Taking into account the results obtained, it is determined that the further introduction of information and communication technologies is an inevitable process that will actively take place in the future, which will contribute to the development of e-business, certain sectors of the economy in which these technologies are already actively used for entrepreneurial activity. Accordingly, the role of e-business in the development of the economy will grow, which requires the development of measures to activate economic activity in this sphere.