Theoretical basis of the development of small and medium-sized businesses in Ukraine in the context of globalization challenges

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THEORETICAL BASIS OF THE DEVELOPMENT OF SMALL AND MEDIUM-SIZED BUSINESSES IN UKRAINE IN THE CONTEXT OF GLOBALIZATION CHALLENGES

Trokhymets Olena, Doctor of Economics, Professor, Professor of the Department of National Economy, Marketing and International Economic Relations Classic Private University

Galtsova Olga, Doctor of Economics, Professor, Head of the Department of National Economy, Marketing and International Economic Relations Classic Private University

Annotation

The influence of globalization challenges on the development of entrepreneurship is revealed: positive and negative consequences, as well as factors of such influence are identified and ways of prevention, elimination or mitigation of negative consequences are proposed. The development of small and medium-sized businesses in the system of global entrepreneurship is studied. It has been established that in conditions of intensive development of scientific and technical progress, industrial relations, differentiation of economic advantages of countries and their integration into the world economic community, the problem of globalization has acquired a global character. It is emphasized that entrepreneurship will increasingly acquire national and multinational status; increasing the impact of new information and communication technology on cost reduction, which leads to new investments, increased labor productivity and increased welfare of countries; foreign trade promotes the specialization of countries in those activities in which they have comparative advantages, and subjects national producers to healthy competition with foreign companies and others. It is emphasized that the most important factor for the active activity of small and medium-sized businesses is the creation of a stable and predictable environment for investment decisions for both national and foreign investors, giving priority to investments in technological and innovative renewal of enterprises.

Key words: small and medium-sized businesses, transnational companies, globalization challenges, investments, innovation, economic activity.

Анотація

Трохимець О.І., доктор економічних наук, професор, професор кафедри національної економіки, маркетингу та міжнародних економічних відносин Класичного приватного університету.

Гальцова О.Л., доктор економічних наук, професор, завідувач кафедри національної економіки, маркетингу та міжнародних економічних відносин Класичного приватного університету.

ТЕОРЕТИЧНІ ОСНОВИ РОЗВИТКУ МАЛОГО ТА СЕРЕДНЬОГО БІЗНЕСУ В УКРАЇНІ В КОНТЕКСТІ ГЛОБАЛІЗАЦІЙНИХ ВИКЛИКІВ.

Розкрито вплив глобалізаційних викликів на розвиток підприємництва: виявлено позитивні та негативні наслідки, а також фактори такого впливу та запропоновано шляхи попередження, усунення чи пом'якшення негативних наслідків. Досліджено розвиток малого та середнього бізнесу у системі глобального підприємництва. Встановлено, що в умовах інтенсивного розвитку науково-технічного прогресу, виробничих відносин, диференціації економічних переваг країн та їх інтеграції у світове економічне співтовариство, проблема глобалізації набула світового характеру. З одного боку, глобалізація дозволяє найбільш ефективно використовувати та розподіляти сировинні та фінансові ресурси, з іншого боку - збільшується взаємний вплив економічних процесів окремих держав на світову економіку загалом. Виділено позитивні та негативні наслідки процесу глобалізації для малого та середнього бізнесу. Підкреслено, що підприємництво все більше набуватиме статусу загальнонародного та багатонаціонального; посилення впливу нової інформації та технології зв'язку на зменшення витрат, що зумовлює нові інвестиції, підвищення продуктивності праці та зростання добробуту країн; зовнішня торгівля сприяє спеціалізації країн тих видів діяльності, у яких мають порівняльні переваги, і підпорядковує національних виробників здорової конкуренції з іноземними компаніями та інших. Встановлено, що основні протиріччя економічної глобалізації полягають у конфлікті інтересів між національними економіками та глобальною економікою, у схожості тенденцій розвитку в різних країнах, і водночас у нерівномірному поділі переваг глобалізації між розвиненими країнами та такими, що розвиваються. Такі протиріччя можуть вирішуватися компромісно підприємництвом та новоствореними глобальними інституціями управління. Підкреслено, що найважливішим чинником для активної діяльності малого та середнього бізнесу є створення стабільного та передбачуваного середовища для інвестиційних рішень як для національних, так і для іноземних інвесторів, надаючи пріоритет інвестиціям у технологічне та інноваційне оновлення підприємств.

Ключові слова: малий та середній бізнес, транснаціональні компанії, виклики глобалізації, інвестиції, інновації, економічна діяльність.

Introduction

Globalization, which is a characteristic feature of the current stage of development of the world economy, is defined as a phenomenon of interpenetration of the economies of the countries of the world and, due to its objective nature, has an ambiguous effect on the development of entrepreneurship.

In the conditions of intensive development of scientific and technological progress, digitalization, industrial relations, differentiation of economic advantages of countries and their integration into the world economic community, the problem of globalization has acquired a global character. On the one hand, globalization allows the most efficient use and distribution of raw materials and financial resources, on the other hand, the mutual influence of the economic processes of individual countries on the world economy as a in general increases [1].

Analysis of recent research and publications. Formation and development of small and medium entrepreneurship constantly attracts the attention of foreign and domestic scientists. A significant contribution to the study of small business was made by Z. S. Varnalii, B. M. Danylyshyn and others. The works of P. Haidutskyi, M. Malik, P. Sabluk, N. Silichieva, N. Sytnyk, R. Miroshny, M. M. Reminskyi, Ya. I Hlushchenko. and other scientists are devoted to the problems of small entrepreneurship. Problems of the development of small and medium-sized enterprises in the conditions of rapid processes of globalization remain relevant.

The research task and objective. The purpose of the article is to analyze the problems of the current state and development trends of small and medium-sized businesses in Ukraine in the context of globalization challenges.

The experience of Ukraine's development, as well as the experience of highly developed countries of the world and countries with economies in transition, shows that the achievement of significant success on the path of integration into the global economic processes depends on taking into account the general patterns of world development. Given the objective nature of modern economic globalization, a manifestation of which is the influence of global factors on the strengthening of the interdependence of the national and international economies, a significant role in the formation of these relationships can be given to entrepreneurship both at the macro and micro levels.

The statement of basic material

Countries have already transferred from one historical stage, which was characterized by the absolutization of the interests of their national economies, to another stage -- the global economy, which does not have a single rigid apparatus that regulates it. On the one hand, processes of market anarchy are developing, which primarily concerns the monetary and financial system, on the other hand, tendencies towards oligarchy are intensifying. The latter is most noticeable in the examples of the creation of multinational, transnational companies and industrial-financial groups [2].

Since one of the forms of globalization is the formation and development of multinational entrepreneurship based on a significant expansion and diversification of the activities of transnational firms and corporations [3], global entrepreneurship, in our opinion, provides for the interconnected and interdependent activities of such components as transnational corporations, their strategic alliances, joint ventures, small and medium-sized enterprises, motivated by the search and desire for the most efficient use of the economic opportunities of the countries of the world (comparative advantages), and which leads to the harmonization of development processes in all spheres of human life.

At the same time, the main factors of such influence are: a sharp acceleration in the pace of development of all spheres of public life; the possibility of efficient use and division of raw materials and financial resources; the growing volume and diversity of international transactions in goods, services and global capital flows; natural restrictions that force enterprises to use the natural resources of other countries; the need for continuous scaling up; aggravation of interstate economic competition; using the opportunities of foreign economic activity in reducing the losses of enterprises from state regulation in the recipient country; development of relations with foreign consumers, flexibility and adaptation to modern technological processes, etc.

The main positive consequences of the impact of globalization on the development of entrepreneurship were considered to be: the creation of international companies; the globalization of financial activity makes it possible to significantly overcome a number of legislative restrictions and norms that exist within national borders; entrepreneurial, market forms are being improved; liberalization of the trade and political regime in relation to commodity markets and markets for services, capital, and stock markets significantly reduces the level of customs tariffs, cancels many restrictions; the influence of external global factors on the development of the national economy will become stronger than the influence of internal national development factors. Entrepreneurship will increasingly acquire the status of nationwide and multinational; strengthening the impact of new information and communication technology on reducing costs, which predetermines new investments, increased labor productivity and increased welfare of countries; foreign trade contributes to the specialization of countries in those activities in which they have comparative advantages, and subordinates national producers to healthy competition with foreign companies, etc.

In addition to positive consequences, the impact of globalization on the development of entrepreneurship has negative ones, which consist, in particular, in the destruction of national foundations, mainly in connection with the activities of global entrepreneurship, increasing the differentiation of countries, which leads to new contradictions and crises, while:

— economic globalization generates crises and contradictions and at the same time seeks to overcome them;

— given the negative impact of globalization on national interests, it is the activities of global entrepreneurship, as one of the main agents of globalization, that should be subject to the principles of a strategy to counter global economic inequality -- one of the main directions of development of the countries of the world;

— since entrepreneurship, under the influence of globalization processes, acquires planetary significance, it becomes necessary to conduct a coordinated economic policy at all levels of state and interstate structure in order to meet the interests of the population of the planet, and not the selfish goals of entrepreneurial capital;

— based on the main contradictions of the globalization processes, it is necessary to find a compromise between national and international interests and ways to optimally combine all existing market mechanisms;

— due to the fact that global entrepreneurship is an interconnected and interdependent activity of its components such as transnational corporations, alliances, joint ventures, small and medium-sized enterprises, motivated by the search and desire for the most efficient use of the economic opportunities of the countries of the world (comparative advantages), and which leads to the harmonization of the development processes in all spheres of human life, it would also be advisable, as economists note, to create a system of global business management that would restrain its all-consuming interests.

The development of the world economy predetermines the strengthening of the uneven distribution of its advantages. The world economy, despite radical changes, remains fundamentally a market system. Unemployment and inflation, social inequality, economic crises remain eternal problems.

Since most of the transformations in the world economy are closely related to economic, environmental, technological processes and mainly go through the structures of global entrepreneurship, then, accordingly, entrepreneurship is assigned one of the main missions in solving the current and future economic global development. Under the influence of economic globalization, national entrepreneurship takes an active part in the global one, which entails both positive and negative consequences. The presence of negative consequences of such influence creates the need to determine ways to eliminate, mitigate, overcome or prevent them. entrepreneurship globalization process business

The basis of globalization processes, which are an objective trend of the modern economic development of the world, is the functioning of global entrepreneurship. As a manifestation of close economic interaction, these processes correct both the positive and negative impact on the state of the business sector.

The globalization of the world economy affects the development of entrepreneurship by increasing the efficiency of the economies of all states, while at the same time sharpening the economic competition of business structures at the macro and micro levels, which, due to their selfish interests, can cause threats related to the security of mankind -- information wars, environmental hazards, etc., which creates the need to create a system of global control (with regional division) over business activities. An important task of this control can be the creation of effective mechanisms for regulating the behavior and activity of TNCs, their alliances, general entrepreneurship, small and medium-sized businesses (in harmonious coexistence - global entrepreneurship), as well as improving the already developed strategies for its development.

A special place in global entrepreneurship is given to small and medium-sized businesses, which are organically interconnected with all varieties of global firms. As active participants in the global process, they search for compromise solutions in the plane of the intersection of the interests of entrepreneurship as an object and subject of globalization.

The prospects for effective economic development of Ukraine are closely related to the processes that are taking place on the European continent. Ukraine is integrating into the system of a modern globalized economy, feeling both the positive and negative impact of these processes. Active inclusion on this basis in the processes of international cooperation, especially scientific and technical cooperation, transnationalization and globalization of production will provide a nationwide strategy of the state [4].

Considering the objects of globalization processes and the inevitability of transformational transformations for Ukraine, as well as the importance of promoting the development of entrepreneurship for its harmonious future, our state needs to take into account the positive and negative consequences of the impactof globalization on the development of entrepreneurship, as well as the factors of such influence for the accelerated adaptation of Ukrainian entrepreneurship to the global world.

The market system of managing the economy, as evidenced by the experience of the development of foreign countries, is associated with the growth of entrepreneurial activity in all sectors of the economy. One of the promising areas and the most influential sectors of the national economy of each country is the development of small and medium-sized businesses. This confirms the fact that small and medium-sized enterprises account for more than 95% of enterprises and provide 60 to 70% of jobs. They create new jobs, including in the high-tech sector.

Scientists identify 3 main stages in the development of small enterprises in the economies of industrialized countries, such as:

— the first stage (thirties) was associated with the formation of a monopolistic structure of the economy. But even then, there was a place for the activities of small businesses;

— the second stage (by the mid-1970s) was marked by a number of changes in engineering and technology, which contributed to the increase in the efficient operation of small enterprises;

— the third stage began with the crisis of the mid-70s and was marked by the rapid development of small businesses. This caused the development of highly productive and resource-saving technologies, the information and communication industry, an increase in the range of products and a decrease in its serialization, dynamic changes in the market environment, which needs to increase the efficiency of management actions, dominance in the economy of the service sector, which ultimately led to a decrease in the optimal size of the enterprise. and created new areas of activity for small firms [6].

Conventionally, experts distinguish 4 phases of the formation of small and medium-sized businesses: the emergence, rapid growth, saturation, self-regulation with the corresponding structural transformations. Countries such as Poland, Czech Republic have reached the fourth phase; Slovenia, Baltic countries are approaching the third phase; Romania, Bulgaria are in different parts of the second phase. According to average estimates, the first phase takes one year, the second -- two or three years, the third -- less than a year [7; 8].

A feature of national policies regarding small business is clearly the implementation of such a regulatory policy that seeks and achieves a balance in reducing the regulatory burden that falls on small businesses. Within the EU, the main emphasis is placed on the simplification and standardization of legislation in many areas of regulation, which should ensure the promotion of reforms, taking into account and in accordance with the characteristics and requirements of small business.

According to the World Bank experts, only in developing countries there are about 50 definitions of small business. Different countries use different qualification criteria (criteria) for classifying an enterprise as small.

The importance of small and medium-sized enterprises is recognized throughout the world by academic researchers, as evidenced by a wide range of definitions. At the same time, the lack of a unified international methodological approach regarding the belonging of entrepreneurial structures to the sphere of small and medium-sized businesses, unfortunately, makes it impossible to compare data on the development of small and medium-sized businesses in different countries.

Global competition creates such conditions for small and medium-sized enterprises that have the advantage of ownership that in order to defend or consolidate their positions in the market, they are forced to take part in international production activities. Technological progress expands the possibilities of cross-border operations for such firms due to the fragmentation of the technological process, the development of information and transport systems. Reducing transport and communication costs enables even small firms to reap the benefits of internationalization by coordinating activities around the world. The increase in the costs of small-scale production associated with the lack of economies of scale, as well as with the growth of wages, makes it especially attractive for such enterprises to take advantage of interstate differences in the cost of production factors, that is, the advantages of location. A significant number of branches of small and medium-sized enterprises are located in developing countries [5].

Considering the system of global entrepreneurship, one cannot ignore the issue of improving the atmosphere on the entire planet, which needs to take into account social and environmental problems that need to be addressed through mechanisms for the development of entrepreneurial activity at the macro and micro levels. This is the task of scientific research of leading economists of all countries in cooperation with competent organizations, which is to develop effective mechanisms for controlling the activities of small and medium-sized enterprises, joint ventures, TNCs, and their alliances.

The subsequent effective development of Ukrainian entrepreneurship depends on the active assistance of the state to its financing, on the creation of favorable conditions for the functioning of domestic business structures that could compete with foreign ones, while it is also necessary to take into account the experience of the leading countries of the world in overcoming the negative consequences of the impact of globalization on the development of entrepreneurship and the use of positive ones.

Up-to-date, consistent adaptation of national entrepreneurship to globalization leads to a significant advantage of the economies of highly developed countries over countries of the same level, but which were slow in this process (for example, American corporations over European and Japanese ones). Ukrainian entrepreneurship has sufficient potential to obtain a strategic advantage among other countries in the future based on product, technological and organizational innovations. At the same time, the integration of national enterprises into the world economy will be possible only if the financing mechanism for small and medium-sized businesses is improved, in particular, this will be facilitated by the application of the proposed multifactorial model of state and non-state financial assistance to the development of this sector of the economy.

The main contradictions of economic globalization lie in the conflict of interests between national economies and the global economy, in the similarity of development trends in different countries, and at the same time, in the uneven distribution of the benefits of globalization between developed and developing countries. Such contradictions can be resolved in a compromise way by entrepreneurship and newly created global governance institutions.

The effect of taking into account a variety of positive and negative factors of the impact of globalization on the development of entrepreneurship, in particular on small and medium-sized businesses, the prevention of negative consequences is measured by the cost of the successful development of society.

As part of the preparation of the National Economic Strategy until 2030, the Government of Ukraine identified the main vectors of the development of small and medium-sized businesses in Ukraine. Among these vectors are the following: are the development of the business support ecosystem; expanding access to financing; simplification of the regulatory environment; facilitating access to new markets. One of the priority tasks of the Ministry of Economy of Ukraine is the consolidation of the state national infrastructure for the support and development of entrepreneurship.

Conclusions

A high degree of participation of Ukrainian small and medium-sized businesses in global entrepreneurship is necessary, not a single opportunity should be lost to receive financial resources by this sector of the economy, which come from various sources, and the potential of domestic ones should be especially strengthened. It would also be advisable, when providing financial assistance to a particular enterprise, to lend or invest directly in the development of the enterprise itself, since the involvement of intermediary banks, for example, increases the cost of credit resources for the borrower in the event that credit funds are provided by reorienting the funds of international financial institutions to the development of small and medium business, and it is also necessary to develop a national counterbalance to them in parallel.

The most important factor for the vigorous activity of small and medium-sized businesses is the creation of a stable and predictable environment for investment decisions for both national and foreign investors, giving priority to investments in the technological and innovative renewal of enterprises.

Developing under the influence of globalization processes, small and medium-sized businesses should be the object of state support, which is a significant support in the process of Ukraine's integration into the global business environment.

One of the most important prerequisites for the fulfillment of these tasks, as already noted, is the improvement of the institutional framework for the participation of Ukrainian small and mediumsized businesses in foreign economic relations.

In the context of transformational transformations in the field of entrepreneurship, institutional structures should create the necessary prerequisites for the transition to the stage of its constant economic growth, to improve the efficiency of its financing.

The state of small and medium-sized businesses in Ukraine and the state policy regarding its development within the institutional dimension cannot yet be considered successful and consistently effective. This will ensure the implementation of one of the priority areas of the national development strategy of Ukraine.

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Бібліографічний список

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