CURRENT CHALLENGES FOR UKRAINIAN BUSINESS

Анотація

The challenges facing Ukrainian business in new socio-economic realities were considered. It was noted that the rapid pace of globalization and migration processes and the growth of the digital economy have increased the interest in business innovation and recruitment problems. It is emphasized that current problems should be seen as challenges for the revival and further dynamic development of business. It is revealed that the main challenges for Ukrainian enterprises are: the intensification of competition, especially in foreign markets, for the use of the resource potential of national economies and for markets; increased competition at the global level for labor, especially highly skilled, which is one of the reasons for the growing shortage of personnel in the domestic market; decreasing demand in the domestic market amid rising imports; high level of corruption; underdevelopment of industrial and social infrastructure, inefficiency of logistics; lack of knowledge and innovation of business; the dynamic growth of the digital economy (digitization). Ukrainian enterprises must respond to these challenges, first of all by technological modernization of their enterprises on an innovative basis, transition to creation of new productions and new types of products; involving employees through various motivational programs, in particular by investing in training and retraining through close collaboration with educational institutions at different levels of accreditation; increasing the capacity of the internal market by increasing the scale and efficiency of the business sector, which will be accompanied by a decrease in unemployment and an increase in real incomes, and by gradual import substitution; promising areas of business diversification; active use of digital technologies in business, unique software products which will provide indisputable advantages for increase of competitiveness.

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