Scientific journal
Научное обозрение. Экономические науки
ISSN 2500-3410
ПИ №ФС77-57503

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COMPARATIVE ANALYSIS OF SMALL AND MEDIUM BUSINESS ACTIVITY IN BELGOROD REGION, RUSSIA AND HAMBURG, GERMANY

Zavatsky R. 1 Shilenko S.I. 2 Shilencko S.M. 2
1 r Angewandte Wissenschaften Hamburg (HAW Hamburg)
2 Autonomous Non-Profit Organization of Higher Education «Belgorod University of Cooperation
Business plays a great role in every country’s economy. It contributes physical and spiritual potential increasing. The paper compares the main ways of small and medium business activity support in Belgorod region and Hamburg. There was made a comparative analysis of business activity, discovered the common development regularities in the context of globalization of economics and overcoming the world financial crisis. Nowadays the public observes the problems, prospects and the role of small businesses in the developed economies. Small business is the most effective form of entrepreneurship during the crisis. It is due to the major advantages of small business: fast adaptation to changing market conditions, great action independence, flexibility and efficiency in management decisions; relatively low costs for activity; possibility of self-realization; low demand on the initial capital; rapid response to changing market demands.