Organizational fundamentals of functioning of the entrepreneurship institute in economy

The purpose of the article is to analyse the economic essence of concepts of “institution” and “institute” and identify the main differences between these concepts from the views of the institutional economy’s representatives, as well as to explore and characterize the relationship between institutions and entrepreneurship. Research methods. Using a systematic approach gave an opportunity to determine characteristics of concepts of “institution”, “institute”, “actor” and “organization” and their influence on the development of entrepreneurship. Research results. On basis of systematization of the results of world and national scientific researches of traditional institutionalism and new institutional economy and characteristics of basic interpretations of concepts of “institution”, “institute”, “actor of institutional economy” and “organization”, the most general interpretation of a concept of institution and its influence on the development of economy were given. Along with the research of foreign scientists, the results of studies of problems of institutional economy and domestic scientists were presented. The problem of influence of institutional economy’s development on the entrepreneurship in Ukraine and their dependence on each other was widely covered. Elements of scientific novelty. According to the research, the main institutions and institutes that are key in the development of entrepreneurship were identified. It was shown the description of the main institutional mechanisms, in which entrepreneurship in the Ukrainian economy functions. The concept of organization and characterization of entrepreneurship as one of the organizations serving as a separate component of the institutional economy was also given. The characteristics of the “actors” of the institutional economy were revealed and given, and examples of them in the Ukrainian economy were shown. Practical significance. The practical value of the article is that the results obtained can be used in the preparation of graduate students and researchers studying the institutional economy and functioning of entrepreneurship in it. Moreover, the research can be used by entrepreneurs and those who have willingness to become entrepreneurs for determining their own development strategies and mechanisms. This material can also be used to calculate your own prospects for becoming an entrepreneur. Tabl.: 2. Figs.: 2. Refs.: 28.