Improving the Competitiveness of Small Businesses: A Factor in the Sustainable Development of the St. Petersburg Region of Russia
The article discloses the role played by small businesses (SB) in St. Petersburg, calling it a major factor in the sustainable development of that region's market economy. It adds that these small enterprises now make a significant contribution to resolving the problems of unemployment by creating new positions, developing industrial competitiveness and increasing tax revenues for the municipality. In the critique's view, the entities also provide social protection, and enhance social and economic-related activities. However, the document notes, at this stage, that SBs are faced with many difficulties in their ongoing activities. The review suggests that these small enterprises should study the deficiencies and then select alternative priorities replete with social benefits. In conclusion, the blueprint presents a basic approach that provides SBs with a major function in regional development. The function would improve their efficiency and also enable them to enhance the basic elements of the developmental strategy.