INTERNATIONAL COMPETITIVENESS: THE ROLE OF MACROECONOMIC STABILITY. ENTREPRENEURIAL ACTIVITY IN THE GLOBAL ECONOMY

Abstract

The article is devoted to the actual study of the role of small and medium-sized businesses in the conditions of the formation of a global economic system. The methodology is based on the analysis of the shares of people employed in small, medium and large businesses in the global economy in terms of geographical regions of the world and in accordance with groups of countries by the level of per capita GNI. Also an analysis of the contribution to the value added of these enterprises, the growth of the role of small and medium businesses is proved, which objectively conditioned by the factors of macroeconomic stability. Differences in the development of the SME sector by regions and income groups of countries are shown, due to the influence of technological, organizational and institutional factors. The subjective prerequisites for the development of entrepreneurial activity are characterized, the prospects for the development of various forms and increasing the efficiency of SMEs are determined. In the process of forming a global economy the role of small and medium-sized businesses is strengthening, increasing its economic efficiency and social significance as a factor in the level and quality of life. Depending on the level of socio-economic development in countries there is a different ratio of forms of SMEs: the lower the level of development of the country (per capita income), the greater the share of self-employed in micro and small enterprises, the lower business efficiency and lower contribution to added value of the country. In the conditions of post-industrialization of the world economy, an introduction of digital technologies increases the role of the SME sphere through its involvement in the process of innovative development. The role of SMEs in increasing the welfare of the population, the development of labor potential and economic activity of both the individual and society as a whole is growing, which provides an opportunity for sustainable economic and social development. SMEs have become especially important in developed countries, which purposefully create a favorable institutional environment to stimulate economic activity in the domestic market with a prospects of entering the world market.