INSTITUTIONAL AND LEGAL CONDITIONS AND INFORMATION SUPPORT FOR THE DEVELOPMENT OF GRANT FINANCING OF ENTREPRENEURIAL ACTIVITY IN UKRAINE

Abstract

The article examines the institutional, legal and informational conditions for the development of grant financing of entrepreneurial activity in Ukraine. In particular, the existing institutions in Ukraine that support representatives of micro, small and medium-sized businesses through grant funding were analyzed, namely: 1. State grant providers are institutions and separate programs financed by the government and provide grants to support various areas, in particular, entrepreneurial activities in Ukraine; 2. Private donors - various foundations, charitable organizations and individuals who provide financial support for the implementation of projects that correspond to their interests and values; 3. Corporate grantors are companies and enterprises that provide grants to support social, environmental and business projects within the framework of their corporate social responsibility policy; 4. International donors, which include international organizations, foundations and agencies; 5. Public and non-profit grant-makers, which include non-governmental organizations, charitable foundations and other non-profit institutions that provide grants to support public initiatives and projects. The research reviewed the legislative framework regulating grant support for entrepreneurial activity and identified legal barriers and gaps in the legislation, namely: vagueness of terminology, tax restrictions, bureaucratic procedures, lack of effective monitoring and control established at the legislative level, lack of protection of grant recipients rights. The article outlines the informational and legal conditions for the development of grant funding and identifies their weaknesses, namely: aspects of centralized informing entrepreneurs about grants available to them remain unregulated at the legislative level. The study emphasizes that the development of institutional and legal conditions and information provision of grant funding in Ukraine has certain shortcomings that should be eliminated in order to improve the efficiency of business support. The authors developed proposals for improving the institutional, legal and informational environment for the development of grant funding in Ukraine. As a result of the study, recommendations were made to develop legislation to regulate grant support, in particular, exempting grants from taxation and simplifying bureaucratic procedures. Emphasized: international experience shows that the creation of a single information platform will facilitate transparent access of entrepreneurs to grant opportunities.