Full Article: PDF
Scientific Object Identifier: http://s-o-i.org/1.1/TAS-09-101-1
DOI: https://dx.doi.org/10.15863/TAS.2021.09.101.1
Language: English
Citation: Kurpayanidi, K. I. (2021). The institutional environment of small business: opportunities and limitations. ISJ Theoretical & Applied Science, 09 (101), 1-9. Soi: http://s-o-i.org/1.1/TAS-09-101-1 Doi: https://dx.doi.org/10.15863/TAS.2021.09.101.1 |
Pages: 1-9
Published: 30.09.2021
Abstract: The article examines the development of entrepreneurship in the context of institutional conditions that create an environment for doing business, determine the volume of transaction costs associated with the implementation of standard procedures of the state regulator. The stages of formation and functioning of the institutional environment of entrepreneurship are analyzed. On the basis of the conducted retrospective analysis, the author's interpretation of the institutional environment of entrepreneurship is given. The economic consequences of the functioning of institutions are investigated in detail. The author has proved that the final effect of the set of role functions of the institutional environment is its influence on the process of forming preferences among small businesses. The condition of its stability is the satisfaction of all individuals and organizations (subjects of the political market) with the existing distribution of power and control over resources in the economy.
Key words: business, institutionalism, institutional economics, institutional environment, organization, entrepreneurship.
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