Volume 02 Issue 11-2022
84
American Journal Of Social Sciences And Humanity Research
(ISSN
–
2771-2141)
VOLUME
02
I
SSUE
11
Pages:
84
-87
SJIF
I
MPACT
FACTOR
(2021:
5.
993
)
(2022:
6.
015
)
OCLC
–
1121105677
METADATA
IF
–
5.968
Publisher:
Oscar Publishing Services
Servi
ABSTRACT
The presented study is devoted to determining the role of the mechanism of attraction of investment resources in
innovative development in the conditions of transformation using the process approach. For this study, the process
approach has been proven to be superior, since investments are considered as a process of investing in the innovative
development of the enterprise in the context of digitalization, and its application allows to take into account the
impact on the mechanism of attracting investment resources. . related to the mechanism of attracting investment
resources of the enterprise. It is justified that the mechanism of attracting investment resources for innovative
development in the conditions of digitization is a unique method of organizing, mobilizing and using investment
resources for the innovative development of the enterprise under the influence of laws of economic development,
state power and management bodies. arrangement. The effectiveness of attracting investment resources to
innovative development is provided by the existing mechanism in the enterprise. The mechanism of attracting
investment resources to innovative development in the conditions of digitization allows to determine the optimal
ratio between the sources and volume of attracting investments to the innovative sector.
Research Article
IMPROVING THE ATTRACTION OF INVESTMENT IN SMALL BUSINESS
AND PRIVATE ENTREPRENEURSHIP WITH THE DIGITALIZATION OF THE
ECONOMY
Submission Date:
November 01, 2022,
Accepted Date:
November 05, 2022,
Published Date:
November 20, 2022
Crossref doi:
https://doi.org/10.37547/ajsshr/Volume02Issue11-13
Egamberdiev Abboskhon Sherali Ugli
Graduate Student Of Small Business And Private Entrepreneurship Organization (Business Innovation And
Entrepreneurship) At The Higher School Of Business And Entrepreneurship Under The Ministry Of Economic
Development And Poverty Alleviation, Uzbekistan
Journal
Website:
https://theusajournals.
com/index.php/ajsshr
Copyright:
Original
content from this work
may be used under the
terms of the creative
commons
attributes
4.0 licence.
Volume 02 Issue 11-2022
85
American Journal Of Social Sciences And Humanity Research
(ISSN
–
2771-2141)
VOLUME
02
I
SSUE
11
Pages:
84
-87
SJIF
I
MPACT
FACTOR
(2021:
5.
993
)
(2022:
6.
015
)
OCLC
–
1121105677
METADATA
IF
–
5.968
Publisher:
Oscar Publishing Services
Servi
KEYWORDS
Mechanism, attraction of investment resources, innovative development of enterprises, digitization, financial
mechanism, financing, process approach, small business.
INTRODUCTION
The basis of economic growth is innovation and
investment processes, which are the impetus and core
of economic systems. This postulate is confirmed by
many economic theories. At the same time, different
economic trends focus on certain aspects of the
investment and innovation process. Representatives
of the classical direction of economic theory
emphasized the importance of private ownership of
investment resources, which ensures competitive
relations of the market mechanism of distribution in
the economy. Representatives of the Keynesian
theory, who have the opposite point of view,
emphasized the importance of public investment,
ensuring and improving the quality of administrative
and market mechanisms for the distribution of social
benefits to the population. But despite the polar views
of representatives of different economic concepts, the
general opinion is that the need to attract investments,
including in the field of innovation, is important for
economic growth. Activation of investment and
innovation processes is the main factor of economic
growth, increases the efficiency of the use of limited
resources, and ensures the achievement of economic,
social and environmental development goals of
economic entities. Modern scientific opinion is based
on the fact that the main thing is to attract investment
resources, but at the same time, the form of ownership
of investments is not important. In the conditions of
digitization, the mechanism of attracting investment
resources for the innovative development of business
entities plays an important role in the investment
process. The purpose of the article is to substantiate
the role of the mechanism of attraction of investment
resources in innovative development in the context of
transformation using the process approach.
METHODOLOGY
This research methodology is a process approach, as
well as a set of general economic and specific principles
that allow to reveal the role of the mechanism of
attraction of investment resources in the innovative
development of enterprises in the context of
digitization. For this study, the process approach is
dominant, since investment is considered as a process
of investing in innovative development in the
enterprise in the context of digitization. As a result of
such funds directed to the innovative development of
the enterprise, the potential of the enterprise turns
into capital. The process approach allows to study the
mechanism of attraction of investment resources and
Volume 02 Issue 11-2022
86
American Journal Of Social Sciences And Humanity Research
(ISSN
–
2771-2141)
VOLUME
02
I
SSUE
11
Pages:
84
-87
SJIF
I
MPACT
FACTOR
(2021:
5.
993
)
(2022:
6.
015
)
OCLC
–
1121105677
METADATA
IF
–
5.968
Publisher:
Oscar Publishing Services
Servi
its role in the innovative development of enterprises in
the conditions of digitalization, as well as the influence
of interrelated processes related to investments. The
process of attracting investment resources in the
direction of innovative development of enterprises
determines the causal relationship of increasing the
efficiency of the enterprise from the point of view of
digitization with investment processes in the
innovative activity of the enterprise. Monitoring the
mechanism of attracting investment resources to the
innovative activities of the enterprise helps to make
more effective management decisions, to optimize the
planning and coordination of various processes in the
enterprise. Also, the process approach makes it
possible to take into account the influence of external
factors and processes that are not directly related to
the mechanism of attracting investment resources of
the enterprise on the mechanism of attracting
investment resources. Digitization, state regulation,
fiscal and tax changes, the impact of market conditions
and many other processes are among the processes
that directly affect the mechanism of attracting
investment resources to innovative development.
Results In the current conditions of digitalization of the
economy, the mechanism for attracting investment
resources is very important, because it allows to
activate innovative processes and attract investments.
Sources of investment resources can be the own funds
of economic entities, but their insufficiency, borrowed
financial resources, attracting funding from local and
state budgets, as well as using the public-private
partnership mechanism allocations from the budget
through . Foreign financial resources can also be
involved. But the type and origin of investment
resources is not important, it is possible to achieve
their effectiveness by using the mechanism of
attraction of investment resources in enterprises. The
effectiveness of attracting investment resources to
innovative development is provided by the existing
mechanism in the enterprise. In the context of
digitization, other mechanisms are influencing the
mechanism of attracting investment resources for
innovative development. Such mechanisms include,
first of all, the financial mechanism of state fiscal
management. This is done through tax rates,
incentives, enforcement and sanctions. Also, the field
of legislation on regulation and rules of investments is
important in attracting foreign investment resources.
SUMMARY
Thus, for the development of enterprises in the
conditions of digitalization, not only the process of
attracting investment resources, but also their
innovative direction is important. Because the
innovative direction of investments allows to increase
the profit and income of the owners, to increase the
efficiency of business activities, to increase the market
value of the enterprise, and to increase the
competitiveness and stability of the enterprise in the
Volume 02 Issue 11-2022
87
American Journal Of Social Sciences And Humanity Research
(ISSN
–
2771-2141)
VOLUME
02
I
SSUE
11
Pages:
84
-87
SJIF
I
MPACT
FACTOR
(2021:
5.
993
)
(2022:
6.
015
)
OCLC
–
1121105677
METADATA
IF
–
5.968
Publisher:
Oscar Publishing Services
Servi
market. The scientific novelty of this study is to justify
the role of the mechanism of attracting investment
resources in innovative development in the context of
digitalization, which implies the use of a process
approach, unlike existing approaches, and represents
a unique method of organization. mobilization and use
of investment resources, external and internal factors
aimed at increasing the efficiency of enterprise activity
through innovations. Further studies require the
possibility and optimality of diversification of sources
of
investment
resources
in
the
innovative
development of the enterprise in the conditions of
digitization.
REFERENCE
1.
Abakmenko OV, Zabashtanskyi MM, Rohovyi AV
(2016). A conceptualization of business cycle
theory in the context of the Austrian school of
economics. Polissya Scientific Bulletin, (2(6)), 114-
121.
2.
Arefieva, O., Tulchynska, S., Popelo, O., Arefiev, S.,
Tkachenko, T. (2021). System of economic security
in conditions of change of powers. IJCSNS
International Journal of Computer Science and
Network
Security,
21(7),
35-42.
https://doi.org/10.22937/IJCSNS.2021.21.7.4 .
3.
Bieliska-Dusza E., Hamerska M. (2021). Innovative
activity of Polish enterprises is a strategic aspect.
Similarity
of
NACE
divisions.
Journal
of
Entrepreneurship, Management and Innovation,
17(2), 53-98.
4.
Collin JD, Reutzel CR (2017). The Role of Top
Managers
in
Determining
Investments
in
Innovation: A Case Study of Small and Medium
Enterprises in India. International Journal of Small
Business: Entrepreneurship Research, 35(5), 618-
6381.
5.
Dergaliu, M., Khanin, S., Popelo, O., Tulchynska, S.,
Pakhota, N. (2021). Activation of the development
of regional economic systems in the conditions of
creative formation of the economy. Laplage em
Revista
(International),
7(3),
80-88.
https://doi.org/10.24115/S2446-
62202021731259p.80-88 .
6.
MY Tirkashev , "THE ROLE OF SMALL SCALE
BUSINESS IN THE DEVELOPMENT OF MARKET
ECONOMY", MOYA PROFESSIONALNAYa KARERA
Uchrediteli : Obshchestvo s ogranichenoy
otvetstvennostyu
"
Moya
professionalnaya
karera", 34, 2022, p. 97-102.
7.
M Yu Tirkashev, NB Eshtemirov, "FACTORS OF
EFFECTIVE USE OF MECHANISMS TO IMPROVE
FINANCIAL CONTROL", 2022, Vestnik magistratury,
3-2 (126), 111-112 p.
