Financing innovative activities of industrial enterprises of Ukraine

O. Stretovych, N. Skopenko
Abstract

Ensuring the competitiveness of Ukrainian goods and technologies is an important problem, the solution of which is connected with the implementation of targeted financing of innovative activities. The purpose of the study is to determine the state and establish trends in the financing of innovative activities of industrial enterprises of Ukraine for the period 20002020 according to the actual data of the State Statistics Service of Ukraine as of the date of publication of the report. article. Analytical method, methods of data grouping, graphic methods, methods of deduction, comparison, systematization and logical generalization were used in the research process. The article examines the dynamics of sources of financing innovative activities of Ukrainian enterprises over a certain period of time; internal and external sources of financing innovative processes, problems and prospects of their involvement by industrial enterprises are considered. It was established that in the period before the announcement of quarantine measures due to COVID-19 and the subsequent start of russia's aggressive war against Ukraine, the main sources of funding for innovative activities in Ukraine were: companies' own funds; state budget funds; funds of foreign investors and funds of other sources of financing. The conducted studies show that the state policy of Ukraine regarding the implementation of innovative activities is unstable and fragmented. The adopted state acts are not supported by financial and other instruments that would allow enterprises to implement and finance innovative activities at an accelerated pace. In such a situation, the country's leadership should pay more attention to improving the legislative framework and creating real financial instruments to help Ukrainian enterprises in carrying out innovative activities 

Keywords

innovative activity; innovative activity; sources of financing; internal sources; external sources; monetary resources

Suggested citation
Stretovych, O., & Skopenko, N. (2023). Financing innovative activities of industrial enterprises of Ukraine. Economics and Business Management, 14(2), 21-32. https://doi.org/10.31548/economics14(2).2023.021
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