THE PLACE AND ROLE OF SMALL AND MEDIUM-SIZED ENTERPRISES IN A MARKET ECONOMY

Анотація

Small and medium entrepreneurship is the most crucial institutional element of a market economy, determining the pace of economic growth and production efficiency. The SME sector in the European Union serves as the foundation of the economy, making a significant contribution to the gross domestic product (GDP) and fostering innovation. SMEs in Poland virtually constitute the entire business sector, addressing unemployment issues and contributing to the country’s GDP. German SMEs possess an exceptionally strong culture of financing and state support, ensuring resilience to economic fluctuations and high labor productivity. Ukrainian SMEs play a pivotal role in the economy, creating jobs and contributing to the recovery of economic growth in the country. Ukraine needs to develop policies supporting and financially aiding SMEs, following the examples of Poland and Germany. The development of digital technologies can significantly enhance the competitiveness of Ukrainian SMEs in the global market. Ukraine should grant SMEs access to funding and resources, simplifying registration and tax procedures to support their sustainable development. SMEs can become the future for Ukraine, fostering regional economic development and reducing economic disparities. Supporting the development of SMEs in Ukraine will contribute to the creation of a modern and innovative country, occupying a significant place on the global economic stage.

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