The Problems and Prospects of Development of the Venture Business in Ukraine
Journal Title: Центральноукраїнський науковий вісник. Економічні науки. - Year 2018, Vol 33, Issue
Abstract
The purpose of this research is evaluation of the level of venture business's development in Ukraine and also determination of the main factors of restraining and stimulating, which affect on the venture business. The current level of country's development depends on the level of development of the innovative activities, therefore the using of innovations is the main factor of the enterprise's success, which also affects to the level of country's development in general. To date, in Ukraine, the development of venture financing of the innovative enterprises is at the initial stage, because the venture funds do not correspond to the world realities, namely, they have the worst investment opportunities in the direction of direct and venture financing. However, Ukraine continues to occupy the status of a country in which the industries of raw materials occupy a significant part, and virtually there are not conditions for the effective implementation of innovative activities due to the various kinds of obstacles (financial, political, legal) which appear on the way to the realization of the innovative model of development in the country. The instrument of the implementation of such model is a creation of an effective national innovative system.Under the conditions of reforming Ukraine's economy and its orientation towards to the joining the European community it makes the search for the new sources of funding for the modernization of the productive sectors of the country’s economy, particularly for the investment of the innovative activities. Venture capital is one of the sources for such a rapid transition. Venture capital is an important source of financing for the start-up (newly created) companies or companies, which are in difficult conditions (on the verge of bankruptcy or a descending stage of development), this is the so-called "risk" capital. The possibility of using new financial instruments for promotion of innovative activities in Ukraine will partially solve the problem primarily small and medium businesses. The leading role in investing research and development is gradually moving from the public to the private sector. Creation and development of new technologies with simultaneous maximization of profits with high degree of risk needs to work with active, experienced, strategically oriented institutional investors. Venture capitalists specialize in analyzing, selecting and managing technological innovation projects, agree to go to justified risk in order to generate income. Further research in this area will cover the creation of favourable conditions for the development in Ukraine of high risk investments, the development of special system of state incentives for the creation of venture funds and companies.
Authors and Affiliations
Tetiana Ryabovolik, Viktor Stratan
Keywords
Related Articles
- EP ID EP479219
- DOI 10.32515/2413-340X.2018.33.43-50
- Views 121
- Downloads 0
The Current State of Innovation Activity of Enterprises, Institutions, Organizations of Kirovohrad Region and Their Problems
The objective of the article is to study the current state and problems of the innovation activity of enterprises and organizations in the region, to generalize the received information for the development and implementa...
Reforming of the accounting of realization of services of water supply and water disposal in the conditions of introduction of the block differentiated tariffs
The publication is dedicated to research of necessary transformations of information system of the accounting in the enterprises of water supply and water disposal in conditions of introduction the system of formation of...
Національні та міжнародні стандарти обліку для державного сектору: особливості застосування
У статті узагальнені передумови реформування системи бухгалтерського обліку в державному секторі у світі та в Україні. Уточнено зміст категорії «державний сектор». Досліджено етапи міжнародної та вітчизняної стандартизац...
Data Mining for Learning and Practical Application in the Economy
The market economic reforms, the increasing of producer's competition and the need to prevent threats of financial risk require advanced professional features from professionals; increase the responsibility of managers f...
The Historic Evolution of the Science of Management: Organization Management
The development of the scientific thought in the field of management of organizations from its origin till present time has been analyzed in the condensed form. Substantial emphasis has been placed on current and future...