REGIONAL FACTORS OF MECHANISMS TRANSFORMATION FOR STRENGTHENING THE ECONOMIC SECURITY OF ENTREPRENEURIAL ACTIVITY IN THE INDUSTRIAL SECTOR OF UKRAINE
The third year of the full-scale war in Ukraine has given rise to a number of new challenges for the entrepreneurial activity of the industrial sector at the regional level. The issue of economic security has become paramount for business entities, its relevance being of the utmost importance. There...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Izdevnieciba “Baltija Publishing”
2024-12-01
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| Series: | Baltic Journal of Economic Studies |
| Subjects: | |
| Online Access: | http://baltijapublishing.lv/index.php/issue/article/view/2639 |
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| Summary: | The third year of the full-scale war in Ukraine has given rise to a number of new challenges for the entrepreneurial activity of the industrial sector at the regional level. The issue of economic security has become paramount for business entities, its relevance being of the utmost importance. Therefore, the purpose of this study is to identify the factors and mechanisms that facilitate the transformation of entrepreneurial activity in the industrial sector of Ukraine at the regional level. The subject of the present study is the theoretical foundations, modern trends and transformation factors for the mechanisms of strengthening the economic security of entrepreneurial activity in the industrial sector of the Ukrainian regions. The research methodology is founded on the concept of Industry 5.0 development, which involves a shift of priorities from purely economic to social values and the welfare of society. The implementation of this concept should be a goal for each region separately and the country as a whole. In order to achieve the goal, the following methods were used: analysis of theoretical sources (to determine the essence of the concept of economic security and the mechanism of its formation at the regional level, taking into account the existing ones), comparison and generalisation (to analyse the latest publications of Ukrainian scientists), graphic and statistical analysis (to determine modern trends in the development of entrepreneurship in the industrial sector of Ukraine), analysis of strategic programme documents (to identify modern strategic favourable and unfavourable factors for strengthening the economic security of entrepreneurial activity in the industrial sector at the regional level). Results of the study: it is determined that the formation of economic security of entrepreneurial activity in the industrial sector of Ukraine at the regional level is carried out by increasing the volume of sales of products/services against the background of ensuring the resource, production, scientific, technical, human resources potential, provided that the welfare of employees and the absence of inflation; an instrumentarium for assessing the status of economic security of entrepreneurial activity in the industrial sector at the regional level has been defined, which provides for the analysis of individual coefficients with a threshold value, as well as the calculation of an integral indicator of the status of economic security of entrepreneurial activity in the industrial sector of the region; the article characterises modern factors of formation of economic security of entrepreneurial activity at the level of regions of Ukraine, in particular, the most promising branches of the industrial sector for a particular region of Ukraine and the standard of living of the economically active population with the status of internally displaced persons. Conclusion. It is evident that the most promising industrial sectors for enhancing the economic security of entrepreneurial activity at the regional level are energy, agri-food, extraction of critical minerals, processing industry, and IT sphere. It is important to note that these sectors are set to develop in parallel with the support for entrepreneurial initiatives and the implementation of the "green transition" in industry. However, it is crucial to ensure that the development of these industries is accompanied by balanced support for the most vulnerable categories of the population. This support should extend beyond professional reorientation, encompassing social and everyday support to ensure the proper quality of life for these individuals. |
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| ISSN: | 2256-0742 2256-0963 |