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Liburkina L. M.

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The Role of Small and Medium-Sized Businesses in the Financial Relations of Local Self-Government
Akulenko V. L., Zakharkin O. O., Komendant I. V.

Akulenko, Vitalii L., Zakharkin, Oleksii O., and Komendant, Iryna V. (2020) “The Role of Small and Medium-Sized Businesses in the Financial Relations of Local Self-Government.” Business Inform 9:147–154.
https://doi.org/10.32983/2222-4459-2020-9-147-154

Section: Problems of Business

Article is written in Ukrainian
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UDC 334.012:336.145:352

Abstract:
The publication is aimed at defining the role and place of small and medium-sized businesses in the formation of financial relations at the local level. The analysis of the latest scientific developments has showed a significant interest in the problems of existence of small and medium-sized businesses and has confirmed the relevance of research in this direction. The publication analyzes statistics on the activities of small and medium-sized businesses in Ukraine, which show that in recent years there has been some decrease in the number of medium-sized enterprises. At the same time, the comparative dynamics of sales volumes shows the growth of its share compared to large enterprises. Also, the carried out analysis confirmed the significant role of small and medium-sized businesses in the formation of financial results, which is the source of taxation. The presence of a significant amount of profit before tax allows small and medium-sized enterprises to use it as an additional financial resource and direct a part of the profit to fill local budgets. The role of small and medium-sized businesses in ensuring employment of the population is essential. Studies have displayed that the share of employees at small and medium-sized businesses comprises 70-75%. The carried out analysis of the tax impact of small and medium-sized enterprises on filling the income part of local budgets demonstrates that the key role therein is played by the payment of single tax and personal income tax. One can conclude that there are positive growth tendencies as to volumes of single tax, but these revenues are still insufficient to wholly fill local budgets with the necessary financial resources and reduce the expenditures on subsidized territorial communities or even make them self-paying. Prospect for further research is to identify factors and determinants of the influence on the efficiency of small and medium-sized businesses in order to form strategic vectors of their development and government support.

Keywords: small and medium-sized businesses, local budgets, single tax, personal income tax, corporate income tax, government support.

Fig.: 8. Bibl.: 10.

Akulenko Vitalii L. – Candidate of Sciences (Economics), Professor, Professor, Department of Economics and Management, Shostka Institute of Sumy State University (vul. Instytutska, 1, Shostka, Sumy region, 41100, Ukraine)
Email: [email protected]
Zakharkin Oleksii O. – Doctor of Sciences (Economics), Professor, Associate Professor, Department of Finance and Entrepreneurship, Sumy State University (2 Mykoly Sumtsova Str., Sumy, 40007, Ukraine)
Email: [email protected]
Komendant Iryna V. – Student, Sumy State University (2 Mykoly Sumtsova Str., Sumy, 40007, Ukraine)
Email: zaharkinа@ukr.net

List of references in article

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