REGIONAL AND GLOBAL PERSPECTIVES OF THE SUSTAINABLE ENTREPRENEURSHIP

Abstract

Increased attention to sustainable development necessitates balancing the economic, environmental, and social activities of economic entities and replacing traditional forms of entrepreneurship with economically and socially oriented ones. Sustainable entrepreneurship provides sustainable development of subjects in economic, social, and environmental areas based on economic incentives, social responsibility, and environmental protection. This study aims to substantiate the theoretical and applied foundations for the study of sustainable entrepreneurship and assessment of its trends at the regional and global perspectives. The study uses general scientific and special methods of economic analysis, in particular, analysis and synthesis; comparison and analogy; generalization and systematization; grouping and cluster analysis based on the use of the k-means method; graphic method. As for the research results on sustainable entrepreneurship and assessment of its trends from regional to global perspectives, we found that the countries belonging to the two regional associations ‒ the European Union and the Eastern Partnership, according to the indicators of sustainable entrepreneurship, are divided into four groups and have common and distinctive features: ‒ highly developed countries with high sustainable entrepreneurship indicators, a favorable business environment and a good level of innovations (Netherlands (GEI: 68‒82; DBI: 76; GII: 59‒63), Denmark (GEI: 71‒79) ; DBI: 84‒85; GII: 57‒58), Sweden (GEI: 70‒77; DBI: 81‒82; GII: 62‒64), and Finland (GEI: 68‒70; DBI: 80; GII: 57‒60); ‒ countries with fairly high levels of sustainable entrepreneurship and innovation and favorable business environments (Czech Republic (GEI: 43‒49; DBI: 76; GII: 48‒49), Spain (GEI: 45‒54; DBI) : 77‒78; GII: 45‒49), Italy (GEI: 41‒46; DBI: 73; GII: 46), Cyprus (GEI: 44‒48; DBI: 72‒73; GII: 46‒48), Lithuania (GEI: 44‒51; DBI: 80‒82; GII: 39‒41), Slovenia (GEI: 45‒57; DBI: 75‒77; GII: 43‒47), Poland (GEI: 41‒50; DBI: 76‒77; GII: 40‒42), Portugal (GEI: 46‒51; DBI: 77; GII: 44‒46); ‒ countries with average levels of sustainable entrepreneurship and innovation that experience significant barriers to doing business (Greece (GEI: 35‒37; DBI: 68; GII: 36‒39), Croatia (GEI: 34‒36; DBI: 71‒74; GII: 37‒41), Latvia (GEI: 39‒43; DBI: 79‒80; GII: 40‒43), Romania (GEI: 33‒39; DBI: 72-73; GII: 36‒38), Hungary (GEI: 36‒46; DBI: 72‒73; GII: 42‒45); ‒ countries with low levels of sustainable entrepreneurship and innovation and difficult business environments (Azerbaijan (GEI: 30,5‒32,9; DBI: 70,19‒78,64; GII: 27,23‒30,21), Ukraine (GEI: 25,2‒29,3; DBI: 65,75‒70,2; GII: 36,6‒38,52), Georgia (GEI: 25,8‒26,5; DBI: 82,04‒83,7; 20,2‒24,4; DBI: 73,0‒74,40; GII: 32,3‒37,63) and Belarus (GEI: 21,4; DBI: 74,3‒75,77; GII: 29,35‒32,6).