WAYS TO STIMULATE BUSINESS DEVELOPMENT: DOMESTIC AND FOREIGN EXPERIENCE

Abstract

This article examines the key directions for stimulating business development in Ukraine and foreign experience. The relevance of the topic is determined by the necessity for Ukrainian enterprises to adapt to new economic realities and challenges. The research employs methods of analysis, comparison, and data generalization, which allows for the identification of key factors influencing business effectiveness. The findings indicate that the successful implementation of stimulating measures, such as state support, investments, the introduction of advanced technologies, and infrastructure development, contributes to the growth of enterprise competitiveness. The practical value of the article lies in the development of recommendations for entrepreneurs and government structures to enhance the efficiency of entrepreneurship in Ukraine based on domestic and international experience. Business development plays a key role in ensuring sustainable economic growth in any country, especially in the context of global integration and modern challenges. Small, medium and large businesses are the basis for creating jobs, technological innovations, increasing government revenues and improving the welfare of the population. Business stimulation covers a number of measures aimed at stimulating business development, improving the business environment and increasing competitiveness on national and international markets. One of the most famous initiatives is the state program "Affordable loans 5-7-9%", launched in 2020 with the aim of promoting the development of small and medium-sized businesses. The program enables entrepreneurs to receive loans at low interest rates for the development and modernization of their business. To date, thousands of projects have been financed, which helps to create new jobs and increase the competitiveness of companies in the domestic market. Foreign experience of business revival proves the importance of state regulation, innovation support and international cooperation. Ukraine should consider these aspects in its policy for effective business promotion. In general, a comprehensive approach that includes all of the above aspects is necessary for successful business activation. This is the only way to create a favorable environment for business development, ensure economic growth and raise the standard of living in Ukraine.