Research on the impact of social investment on stimulating the development of small enterprises: global experience

Анотація

The article presents the results of a comprehensive scientific study of the impact of social investing (impact investing) on the processes of ensuring sustainability and stimulating the development of small businesses in conditions of global turbulence. The relevance of the study is determined by the strategic role of small and medium-sized enterprises (SMEs) in ensuring economic growth and, at the same time, their vulnerability to financial crises. The authors have systematized data from the World Bank and the International Finance Corporation (IFC), which indicate a critical SME financing gap of $5.7 trillion in 2025, representing about 19% of global GDP. It is argued that with the low survival rate of new businesses (45-55% during the first three years), traditional lending models are reaching their limits, requiring the integration of socially oriented capital. The scientific novelty of the work lies in the development and interpretation of linear regression models using the least squares method for the period 2024-2025. It has been established that each 1% increase in the share of social investments correlates with an increase in SME survival by 1.18-1.30%. A trend towards increasing basic market stability and gradual «saturation» with capital in developed economies has been identified. The practical significance of the study lies in the formulation of the authors' recommendations for Ukraine's national economic policy. It is proposed to introduce impact cashback mechanisms within the framework of the «5 – 7 – 9 %» program, create a national SROI reporting platform, and launch social impact bonds. It has been proven that harmonizing Ukrainian legislation with EU ESG standards is a critical condition for attracting international impact capital in the post-war recovery process, which will shift the focus from subsidy-based business survival to sustainable development through social responsibility.

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