VolRC RAS scientific journal (online edition)
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Journal section "Socio-economic research"

Assessing the Role of the Business Sector in Region’s Social Development

Kremin A.E.

4 (16), 2018

Kremin A.E. Assessing the role of the business sector in region’s social development. Social area, 2018, no. 4 (16). DOI: 10.15838/sa.2018.4.16.5

DOI: 10.15838/sa.2018.4.16.5

Abstract   |   Authors   |   References
The business sector of the economy meets the needs of the national economy. Its development is also an important mechanism for economic diversification at the federal, regional, and municipal level. Large and medium enterprises mainly determine the economic and technical power of the country and the region. Small enterprises, due to their high adaptability to the constantly changing market conditions, flexibility, and mobility, form the framework for the local economy and participate in solving the problems of employment of region’s population. They create a competitive environment, form a non-state economic sector, saturate the consumer market, contribute to structural changes, and prevent unemployment. Special attention should be paid to modern studies proving the significant impact of development of this economic sector on population’s welfare and standard of living. As a result of the management process aimed at ensuring the development of the socio-economic system of the region, state authorities have to determine the level of influence of the business sector on region’s social development. Its assessment will make it possible to manage the development of the socio-economic system more effectively, which will have a positive impact on the development of the country’s economy as a whole. Therefore, this scientific problem is relevant; its solution is necessary for justifying strategic areas of regional authorities and management. The purpose of the article is to assess the impact of the business sector as an system-forming element of the socio-economic system on parameters of social development of the region. To determine and assess the areas of this influence on the basis of correlation and regression analysis, statistics for 2009–2016 were analyzed. At the end of the article we interpret the developed models and define areas of actions necessary for social development of the region. The materials can be used by federal and regional authorities and management to determine the further strategy for the development of the business sector in the economy


region, small business, social development, trends and problems, micro-entrepreneurship, realization of entrepreneurial potential

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