Importance Currently, ensuring the economic growth, many developed countries draw on innovation and new knowledge. Scientific achievements are seamlessly incorporated into economic processes involving separate entities, including small businesses. In Ukraine, intentions to form the innovative environment for small businesses are of declarative and alleged nature. That is why it is important for the national practices to evaluate foreign experience and expertise in setting up and developing small business. Objectives The research examines and analyzes the principle financial and credit tools used to support small innovative businesses in some foreign countries in order to study their expertise and implement it nationwide. Methods Having determined the specificity of the governmental regulatory policy the leading economies adhere to in innovative development of small businesses, and using financial and credit tools, I formulate my conclusions concerning the support to the above sector in Ukraine. I also identify possible ways to ensure effective and innovative operations of the sector as part of the national economy. Results There is a gap between the declared political goals and real steps and measures undertaken in Ukraine. It appears the key problem and challenge for innovative development of the Ukrainian small businesses. Official statements are not corroborated with thoroughly elaborated activities (efficient mechanisms, instruments, programs and frame conditions). That is why I scrutinize potential opportunities of adapting advanced foreign practices to encourage and stimulate innovative development of small businesses in Ukraine. Conclusions and Relevance The higher innovative development of small businesses, the more successful Ukraine will be in the global economy. Implementing top priority measures of the innovative policy today, it will be possible to contribute to the future of Ukraine, create national competitive advantages and build a solid and robust platform for improving the country and its accession to the European and global development process.
Keywords: Ukraine, foreign experience, small innovative businesses, innovative activity, financial and credit tool, financial aid, public support
References:
Aizadullova A.R. Osobennosti sovremennogo malogo predprinimatel'stva v SShA [The specificity of modern small business in the United States]. Available at: Link. (In Russ.)
Bocharova O.N. Napravleniya sovershenstvovaniya gosudarstvennoi podderzhki i kreditovaniya malogo i srednego predprinimatel'stva [Directions of the public support improvement and lending to small and medium-sized businesses]. Available at: Link. (In Russ.)
Vasilenko O.V., Shmat'ko V.G. Innovatsionnyi menedzhment [Innovative Management]. Kiev, Центр навчальної лiтератури, 2003, 440 р.
Vasil'eva L.M. Razvitie malogo predprinimatel'stva v zarubezhnykh stranakh [Small business development in foreign countries]. Available at: Link.
Danylkiv K.P., Dropa Ya.B.Osnovnye istochniki finansovo-kreditnogo razvitiya malogo predpriyatiya [The main sources of financial and credit development of small businesses]. Ekonomicheskoe prostranstvo = Economic Space, 2011, no. 52-2, pp. 161–173.
Dudar' T.G., Mel'nichenko V.V. Innovatsionnyi menedzhment [Innovative Management]. Kiev, Центр навчальної лiтератури, 2009, 256 p.
Zyan'ko V.V., Kriva S.V. Мале пiдприємництво – катализатор iнновацiйного розвитку економики. Available at: Link.
Інноваційний бізнес у США, чи далеко ми позаду? Available at: Link. (accessed 23.02.2011)
Kizim A.A., Krylov A.P. Perspektivy mikrofinansirovaniya kak instrumenta razvitiya i podderzhki malogo biznesa [Prospects of microfinance as a tool in development of small business support]. Available at: Link. (In Russ.)
Klimko G.N., Nesterenko V.P., Kanishchenko L.A., Chukhno A.A. Osnovy ekonomicheskoi teorii: politekonomicheskii aspekt [Basics of the economic theory: political and economic considerations]. Kiev, Вища школа, 1999, 743 p.
Krasnokutskaya N.V. Innovatsionnyi menedzhment [Innovative Management]. Kiev, Kyiv National Economic University, 2003, 504 p.
Kublin I.M., Tinyakova V.I. Vliyanie marketinga na razvitie malogo biznesa v regional'nom aspekte [Influence of marketing on the development of small business in a regional aspect]. Available at: Link. (In Russ.)
Lanina O.I., Potokina S.A., Bocharova O.N. Osobennosti i problemy bankovskogo kreditovaniya malogo i srednego predprinimatel'stva na sovremennom etape [The specificity and problems of bank lending to small and medium-sized businesses at the current stage]. Available at: Link. (In Russ.)
Maslyaeva M. Malyi biznes po-frantsuzski [Small Business in the French Fashion]. Available at: Link. (In Russ.)
Rumyantsev A.V. Nalogovoe regulirovanie v zarubezhnykh stranakh [Tax regulation in foreign countries]. Available at: Link. (In Russ.) (accessed 18.12.2010)
Stoyanova M.M. Sovershenstvovanie gosudarstvennoi podderzhki malogo predprinimatel'stva (opyt Yaponii) [Improving public support to small businesses (a case study of Japan)]. Ekonomicheskie innovatsii = Economic Innovation, 2009, no. 38, pp. 196–203.
Finance Your Business. The U.S. Small Business Administration. Available at: Link.
Shepelev S.E. Gosudarstvennaya podderzhka malogo predprinimatel'stva za rubezhom [Public support to small businesses abroad]. Available at: Link. (In Russ.)
Picard J. Small Business Aid Bill Stalls in Senate. Available at: Link.
