Igor LIUTY, Rufat KULIEV


Igor Liuty, D.Sc. (Econ.), Professor, Vice Principal at the Taras Shevchenko National University of Kiev, Chair Head (Kiev, Ukraine).

Rufat Kuliev, D.Sc. (Econ.), Professor at Azerbaijan Technical University and the Taras Shevchenko National University of Kiev, Member of the Milli Mejlis (Parliament) of the Azerbaijan Republic (Baku, Azerbaijan).


SMALL AND MEDIUM BUSINESSES IN A GLOBALIZING WORLD

ABSTRACT

This article looks at the specific features of small business development and its significance for the economy, as well as at the European, Asian, and American small and medium business development models. It gives recommendations on how to use world experience in small business development in the post-Soviet countries.

Keywords: Small and medium business, globalizing economy, market economy.

Innovation is the key to success in this business,
and creativity fuels innovation. 

James Goodnight, American businessman,
founder and CEO of SAS

Introduction.
Small Businesss Place in the Economy

The market economy today is characterized by a complex amalgamation of large, medium, and small production units. On the one hand, plant concentration is a stable trend of scientific-technical progress: large companies have the greatest material, financial, and labor resources, as well as qualified personnel. They are able to carry out large-scale R&D. On the other hand, there has been an unprecedented flux in medium and small entrepreneurship recently, particularly in areas where large amounts of capital, significant volumes of equipment, and widespread collaboration are not yet needed. Such enterprises are particularly abundant in scientific-intensive types of production, as well as in branches related to the.


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