Agrarian Economy 2025 Т. 18 № 1-2: 106-112

IMPACT OF CAPITAL INVESTMENTS ON THE DEVELOPMENT OF ENTREPRENEURSHIP IN UKRAINE: AN ANALYTICAL APPROACH AND STRATEGIC GUIDELINES

Markovych N., Candidate of Economic Sciences (PhD), Associate Professor
ORCID ID: 0000-0001-6725-1355
Lviv National Environmental University

https://doi.org/10.31734/agrarecon2025.01-02.106

ANNOTATION

The article examines the significance of capital investments as a key factor in the development of entrepreneurial activity in Ukraine. An analysis of the dynamics of capital investments in the entrepreneurial sector for the period 2015–2023 was conducted, allowing for the identification of key trends in the investment environment. A decline in the share of attracted financial resources, a decrease in investment activity among enterprises, and a redistribution of investments in favor of sectors related to critical infrastructure and the defense industry were identified. The main factors constraining the growth of capital investments include high business risks, macroeconomic instability, limited access to credit resources, and a reduction in foreign direct investment.

The author assessed the structure of capital investments by examining the sources of financing. The analysis revealed that enterprises primarily rely on their own funds, with a low level of external financial resources. A decline in the share of bank loans and investments from non-residents suggests that it is necessary to reevaluate state policies regarding investment incentives. Furthermore, an examination of the dynamics of financial indicators for these enterprises shows a clear correlation between the level of capital investment and the growth rate of sales volumes, highlighting the essential role of capital investments in maintaining financial stability.

The necessity of implementing a comprehensive policy to support capital investments has been substantiated. This policy should include tax incentives, public-private partnership mechanisms, the expansion of preferential lending programs, and the activation of cooperation with international financial institutions. In the long run, the digitalization of the financial sector, automation of state business support mechanisms, development of venture financing, and adaptation of the regulatory environment to EU standards will contribute to attracting new investments, improving conditions for entrepreneurship, and enhancing the competitiveness of the national economy.

KEYWORDS

capital investments, entrepreneurial activity, investment activity, sources of financing, public-private partnership, financial stability, innovations, competitiveness, economic growth

FULL TEXT

LINK

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