Development and Support of Ukrainian Domestic Entrepreneurship in the Knowledge Economy

Abstract

This paper explores the elements of support and development of entrepreneurship in Ukraine. It suggests that digitalization is an important organizational component in the development of the business sector in the knowledge economy. The authors present a comprehensive study of the most advanced domestic business ecosystems (Diia, UNIT.CITY, Genesis) and highlight their key characteristics, i.e., type of ownership, structure, mission and vision, services for entrepreneurs, investment fund availability, and areas and types of investment. The paper concludes that support for entrepreneurship in Ukraine is based on the principles of efficiency, accessibility, social security, openness, and transparency. Entrepreneurship support is considered as a set of measures of the state-funded and private institutions and organizations aimed at ensuring the sustainable functioning of small and medium-sized business entities and stimulating their development by creating the following favorable conditions: building a competitive environment and increasing competitiveness; fostering investment and innovation efforts; promoting manufactured goods (works, services) or knowledge-based products in domestic and foreign markets; ensuring employment by supporting the citizens’ entrepreneurial initiatives. Areas of public and private support of domestic entrepreneurship include provision of information, consultancy, and special services. Moreover, the paper pays special attention to the forms and methods of supporting businesses and entrepreneurship under martial law in Ukraine in 2022.