Socio-economic principles of the functioning of economic entities of territorial communities

Анотація

The productive functioning of economic entities requires due attention to socio-economic fundamentals. The creation of transparent and favorable conditions for business, the development of infrastructure, and the provision of financial support and incentives for innovative projects help to attract investment and create new jobs. In addition, active communication, interaction, and partnership between economic entities and territorial communities are key factors for the success of both parties. This includes sharing experiences, joint planning and decision-making, and public participation in decision-making processes. This approach will help support and develop local enterprises, create a favorable environment for business development, and improve the quality of life in communities. The article aims to examine the main components of the activity of economic entities and their impact on the development of territorial communities. The article analyzes the peculiarities of the socio-economic development of economic entities. The study identifies the key aspects of economic entities’ development, namely: support of small and medium-sized businesses; advisory assistance to market entities; drafting strategic plans for the development of territorial communities; support of local infrastructure, education, healthcare, etc.; and public participation in discussion and decision-making. The article substantiates the process of decentralization reform and its impact on the socio-economic development of economic entities. The regulatory and legal components of relations between economic entities and local governments are characterized. The main areas that will facilitate efficient cooperation between economic entities of territorial communities and local governments are identified.

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