IMPROVING THE COMPETITIVENESS OF SMALL AND MEDIUM-SIZED BUSINESSES AS A FACTOR OF ECONOMIC DEVELOPMENT

Abstract

Studying and solving the problems of economic competitiveness is of broad public interest, as they directly affect the welfare of the state, its citizens and its position in the global economy. The study of economic competitiveness in combination with new theoretical approaches allows us to understand more deeply the factors that form a country’s competitive advantage
and to develop more accurate tools to assess and support sustainable economic development in the context of changing global dynamics. Given the current trends and the ongoing macroeconomic conditions of industries’ functioning, the expediency of improving management processes and mechanisms is necessary. The assessment of economic competitiveness is closely related
to the extent to which SMEs successfully respond to changes in the external environment and maintain competitive advantages in the conditions of digitalization and technological change, making a significant contribution to the competitiveness of the RK economy.
Research of this kind is of great importance for understanding trends in the global economy, developing more accurate tools for assessing and improving competitiveness, as well as for creating practical recommendations that contribute to the sustainable
development of new technologies, economic stability and the ability of SMEs to compete in an unstable economic environment.