Subject The study addresses the totality of economic and administrative relations associated with assessing the role of small business in the regional economy. Objectives The purpose is to investigate the importance of small business in the regional economy, unveil and describe the nature of GRP dependence of the Volga Federal District on economic performance indicators of small business, using regression models. Methods The study draws on data aggregation, analysis of statistical data, correlation analysis, induction, deduction, synthesis, and the abstraction technique. Results We formulate a definition of small business, describe its functions in the regional economy, evaluate the relationship between the small business’ economic performance indicators and regional GRP in the Volga Federal District. Conclusions The small business development will contribute to creating a socially oriented model of market economy thus increasing the consumer surplus. The economic performance indicators of small business have strong positive relationship with the GRP of regions in the Volga Federal District. The findings may be useful for government institutions involved in small business development.
Keywords: small business, multiplicative effect, Volga Federal District
References:
Baranov M.A. [Developing the methods to assess the entrepreneurial potential of small enterprises in regional economy]. Regional'naya ekonomika: teoriya i praktika = Regional Economics: Theory and Practice, 2018, vol. 16, iss. 6, pp. 1065–1081. (In Russ.) URL: Link
Pin'kovetskaya Yu.S., Kataev E.N. [Analysis of the development potential and attitudes towards entrepreneurship in national economies]. Regional'naya ekonomika: teoriya i praktika = Regional Economics: Theory and Practice, 2015, vol. 13, iss. 35, pp. 30–44. URL: Link (In Russ.)
Ershova I.V., Tarasenko O.A. Small and Medium-Sized Enterprises: Transformation of the Russian Crediting and Microfinancing System. Vestnik Permskogo universiteta. Yuridicheskie nauki = Perm University Herald. Juridical Sciences,2018, iss. 39, pp. 99–124. URL: Link
Shakirova R.K., Kurochkina N.V. [The institution of taxation and small business of the Mari El Republic: Certain issues of development]. Finansy i kredit = Finance and Credit, 2018, vol. 24, iss. 7, pp. 1649–1668. (In Russ.) URL: Link
Oleynik O.S., Gukova A.V., Antonova T.I. [Small and medium-sized businesses in the Volgograd region: Main tendencies of development and State support]. Regional'naya ekonomika. Yug Rossii = Regional Economy. South of Russia,2017, no. 4, pp. 115–126. (In Russ.) URL: Link
Zakharova N.V., Labudin A.V. [Small & medium entrepreneurship in European Countries: Main tendencies of the development]. Upravlencheskoe konsul'tirovanie = Administrative Consulting, 2017, no. 12, pp. 64–77. (In Russ.) URL: Link
Vasilenok V.L., Safronova Zh.S., Brazevich D.S. [Small entrepreneurship as factor of development of innovative economy]. Nauchnyi zhurnal NIU ITMO. Seriya Ekonomika i ekologicheskii menedzhment = Scientific Journal NRU ITMO. Series Economics and Environmental Management,2018, no. 1, pp. 98–104. URL: Link (In Russ.)
Greenberg Z., Farja Y., Gimmon E. Embeddedness and Growth of Small Businesses in Rural Regions. Journal of Rural Studies,2018, vol. 62, pp. 174–182. URL: Link
Popova G.L. [A statistical analysis of the development of small business in the Tambov oblast]. Regional'naya ekonomika: teoriya i praktika = Regional Economics: Theory and Practice, 2016. vol. 14, iss. 12, pp. 178–188. URL: Link (In Russ.)
Justo R., De Castro J., Maydeu-Olivares A. Indicators of Entrepreneurship Activity: Some Methodological Contributions. International Journal of Entrepreneurship and Small Business, 2008, vol. 6, no. 4, pp. 604–621. URL: Link
Sanchez-Escobedo M., Fernandez-Portillo A., Diaz-Casero J.C., Hernandez-Mogollon R. Research in Entrepreneurship Using GEM Data. Approach to the State of Affairs in Gender Studies. European Journal of Management and Business Economics,2016, vol. 25, iss. 3, pp. 150–160. URL: Link
Faggio J., Silva O. Self-Employment and Entrepreneurship in Urban and Rural Labour Markets. Journal of Urban Economics,2014, vol. 84, pp. 67–85. URL: Link
Dmitrieva E.O. [Small business as a factor of modernization of an old industry mono-town]. Vektor nauki Tol'yattinskogo gosudarstvennogo universiteta. Seriya: Ekonomika i upravlenie = Science Vector of Togliatti State University. Series: Economics and Management, 2017, no. 3, pp. 42–49. (In Russ.) URL: Link
Novosel'tseva G.B., Rasskazova N.V. [Small business as a factor of the management of innovation economy development]. Izvestiya vysshikh uchebnykh zavedenii. Povolzhskii region. Ekonomicheskie nauki = University Proceedings. Volga Region. Economic Sciences,2017, no. 1, pp. 3–13. (In Russ.) URL: Link
Gus'kova I.V., Antyushin M.V. [Developing the small business in Russia and in the Nizhny Novgorod oblast: Current state and prospects]. International Journal of Innovative Technologies in Economy, 2017, no. 2(8), pp. 22–33. URL: Link (In Russ.)
Kremin A.E. [Assessment of the influence of functioning of small business on the economy of a municipal entity]. Problemy razvitiya territorii = Problems of Territory's Development, 2017, no. 1, pp. 59–77. URL: Link (In Russ.)
Buzdalina O.B. [Improving the efficiency of State financial support of subjects of small business in modern conditions]. Ekonomicheskie sistemy = Economic Sistems, 2017, vol. 10, no. 1, pp. 86–90. URL: Link (In Russ.)
Karpov V.V., Korableva A.A., Mozzherina N.T. [Analysis and improvement of the mechanism of State support to small and medium-sized businesses]. Regional'naya ekonomika: teoriya i praktika = Regional Economics: Theory and Practice, 2015, vol. 13, iss. 8, pp. 38–49. URL: Link (In Russ.)
Nesterenko I.Yu., Zhilina T.A. [Implementation of State programs for support of small and medium-sized enterprises of the Sverdlovsk oblast]. Regional'naya ekonomika: teoriya i praktika = Regional Economics: Theory and Practice, 2016, vol. 14, iss. 5, pp. 57–72. URL: Link (In Russ.)
Claudino T.B., Dos Santos S.M., De Aquino Cabral A.C., Naiula Monteiro Pessoa M. Fostering and Limiting Factors of Innovation in Micro and Small Enterprises. RAI Revista de Administração e Inovação,2017, vol. 14, iss. 2, pp. 130–139. URL: Link
Lee Y.S. Government Guaranteed Small Business Loans and Regional Growth. Journal of Business Venturing,2018, vol. 33, iss. 1, pp. 70–83. URL: Link
