Prospects for the development of small business in Arctic regions

• Published in: IOP Conference Series: Earth and Environmental Science
• Main Authors: Emelyanova, E E, Yakovchuk, A A
• Format: Article in Journal/Newspaper
• Language: unknown
• Published: IOP Publishing 2020
• Subjects: Arctic
• Online Access: http://dx.doi.org/10.1088/1755-1315/539/1/012084; https://iopscience.iop.org/article/10.1088/1755-1315/539/1/012084/pdf; https://iopscience.iop.org/article/10.1088/1755-1315/539/1/012084

Abstract The research aims at evaluating the level of entrepreneurship development in the Russian Artic and investment activity that directly affects the entrepreneurship development area in the region. The research was conducted in three directions, and namely: analysis of the investment activity in Arctic regions; analysis of main growth drivers for the entrepreneurship and tourism area as a promising trend in the small business development; and study of the degree of small business involvement in the investment activity of Arctic regions and state support to small business, including the influence of the transport and logistics development of the Arctic zone on the promotion of the tourism and hospitality industry. An integrated approach to the execution of this research in evaluating the level of small business development and tourism industry in the regions depending on their affiliation to the Arctic zone of the Russian Federation determines its relevance and scientific novelty. During the research, it has been found that the level of investment activity in the territories of the RF Arctic zone is significantly differentiated and primarily depends on the degree of participation of large public corporations and backbone enterprises in the investment activity while the rates and level of small business development and level of state support fail to keep pace with the national average values and disagree with the announced targets in the entrepreneurship development in the country. In this connection, it is feasible to make amendments to the laws and regulations of the Russian Federation aimed directly at the support of entrepreneurship in Arctic regions of our country.