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Development and Support of Ukrainian Domestic Entrepreneurship in the Knowledge Economy

Author

Listed:
  • Maksym W. Sitnicki

    (Management of Innovation and Investment Activities Department, Faculty of Economics, Taras Shevchenko National University of Kyiv, 03022 Kyiv, Ukraine)

  • Iryna Horbas

    (Management of Innovation and Investment Activities Department, Faculty of Economics, Taras Shevchenko National University of Kyiv, 03022 Kyiv, Ukraine)

  • Oksana Derkach

    (Management of Innovation and Investment Activities Department, Faculty of Economics, Taras Shevchenko National University of Kyiv, 03022 Kyiv, Ukraine)

  • Alan Flowers

    (Faculty of Engineering, Computing and the Environment, Kingston University London, London SW3 15DW, UK)

  • Izabela Wielewska

    (Department of Agronomy, Faculty of Agriculture and Biotechnology, Bydgoszcz University of Science and Technology, Al. Prof. S. Kaliskiego 7, 85-796 Bydgoszcz, Poland)

  • Karol Tucki

    (Department of Production Engineering, Institute of Mechanical Engineering, Warsaw University of Life Sciences, Nowoursynowska Street 164, 02-787 Warsaw, Poland)

  • Dagmara K. Zuzek

    (Department of Statistics and Social Policy, Faculty of Agriculture and Economics, University of Agriculture in Krakow, Mickiewicza Street 21, 31-120 Krakow, Poland)

  • Serhii Pimenov

    (Independent Researcher, 02-495 Warsaw, Poland)

Abstract

This paper explores the elements of support and development of entrepreneurship in Ukraine. It suggests that digitalization is an important organizational component in the development of the business sector in the knowledge economy. The authors present a comprehensive study of the most advanced domestic business ecosystems (Diia, UNIT.CITY, Genesis) and highlight their key characteristics, i.e., type of ownership, structure, mission and vision, services for entrepreneurs, investment fund availability, and areas and types of investment. The paper concludes that support for entrepreneurship in Ukraine is based on the principles of efficiency, accessibility, social security, openness, and transparency. Entrepreneurship support is considered as a set of measures of the state-funded and private institutions and organizations aimed at ensuring the sustainable functioning of small and medium-sized business entities and stimulating their development by creating the following favorable conditions: building a competitive environment and increasing competitiveness; fostering investment and innovation efforts; promoting manufactured goods (works, services) or knowledge-based products in domestic and foreign markets; ensuring employment by supporting the citizens’ entrepreneurial initiatives. Areas of public and private support of domestic entrepreneurship include provision of information, consultancy, and special services. Moreover, the paper pays special attention to the forms and methods of supporting businesses and entrepreneurship under martial law in Ukraine in 2022.

Suggested Citation

  • Maksym W. Sitnicki & Iryna Horbas & Oksana Derkach & Alan Flowers & Izabela Wielewska & Karol Tucki & Dagmara K. Zuzek & Serhii Pimenov, 2024. "Development and Support of Ukrainian Domestic Entrepreneurship in the Knowledge Economy," Sustainability, MDPI, vol. 16(13), pages 1-12, July.
    • Handle: RePEc:gam:jsusta:v:16:y:2024:i:13:p:5682-:d:1428257
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    References listed on IDEAS

    as
    1. Goodell, John W. & Yadav, Miklesh Prasad & Ruan, Junhu & Abedin, Mohammad Zoynul & Malhotra, Nidhi, 2023. "Traditional assets, digital assets and renewable energy: Investigating connectedness during COVID-19 and the Russia-Ukraine war," Finance Research Letters, Elsevier, vol. 58(PA).
    2. Deininger, Klaus W. & Ali, Daniel Ayalew & Neyter, Roman, 2023. "Impacts of a mandatory shift to decentralized online auctions on revenue from public land leases in Ukraine," Journal of Economic Behavior & Organization, Elsevier, vol. 213(C), pages 432-450.
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