Keywords
territorial community
development
decentralization
entrepreneurship
How to Cite
Abstract
The article focuses on examining the role of business as a key factor in the socio-economic development of territorial communities. The study aims to analyze the significance of business in the context of community growth, taking into account decentralization processes and the modern challenges faced by businesses in Ukraine. The study employed general scientific methods of cognition: analysis and synthesis, induction and deduction, comparison, generalization, a systemic approach, and methods of structural and functional analysis. The results show that business plays a crucial role in driving the development of territorial communities by creating jobs, fostering competition, contributing to local budgets, and stimulating infrastructure growth. Entrepreneurial activity leads to the implementation of investment projects, the modernization of local economic systems, and the mobilization of internal resources for sustainable development. Given the ongoing decentralization, the business environment forms the basis for strategic development planning, enhances economic self-sufficiency, and improves quality of life. At the same time, it has been found that operating a business under current conditions is extremely difficult due to the impact of military actions, financial constraints, labor shortages, high tax burdens, and institutional instability. A significant number of enterprises have suspended operations or suffered considerable losses, negatively affecting the dynamics of community development. Low business activity complicates the implementation of recovery strategies, especially in regions most affected by destruction. However, despite the difficult circumstances, the prospects for business development at the local level remain positive. The practical value of the study lies in the development of scientifically grounded recommendations aimed at improving the effectiveness of support for entrepreneurship as a foundation for the socio-economic development of territorial communities.
References
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