Analysing the Impact and Obstacles of Economic Development Initiatives for Businesses in Europe and Ukraine

Abstract

The analysis of economic growth programmes in Europe and Ukraine is crucial for assessing the successes and challenges faced by enterprises in these regions. This study aims to analyse strategies aimed at stimulating economic development. A review of economic growth programmes in European countries and Ukraine has been conducted, analysing their objectives, mechanisms, and tools. A comparative analysis of the measures implemented in the countries of the European Union and Ukraine was conducted, considering the specifics of the respective economic, political, and socio-cultural contexts. The research methods applied included data analysis, SWOT analysis, and case studies. A model for assessing economic growth programmes for enterprises has been developed, which includes an analysis of areas of influence, challenges, and ways to overcome them. The areas of influence identified include state institutions and policies, legislative frameworks, research institutes and studies, investments, human capital and education, infrastructure, and trade policy. The challenges identified include bureaucratic burden, uncertainty in the legal sphere, lack of access to financing, market instability, insufficient qualified staff, underdeveloped infrastructure, and high taxes. To overcome these challenges, it is necessary to implement several measures. These include reducing the bureaucratic burden, reforming the legislative and legal system, supporting innovation and research, increasing access to financing, developing infrastructure, developing human potential, and supporting entrepreneurship and small businesses. The most effective ways to overcome the challenges of economic growth programmes have been outlined, and recommendations for their implementation have been provided. The study’s findings are beneficial for developing strategies for enterprises operating in both Europe and Ukraine, as well as for formulating recommendations for state and regional authorities in the field of economic development.