Mingalieva T. I., Fedorova V. A., Lobanova V. V.

Oles Honchar Dnipropetrovsk National University

IMPLEMENTATION OF BUSINESS REFORMS IS THE WAY TO DO BUSINESS IN UKRAINE EASILY

Ukraine is a country of great opportunities and immense potential but now it is in a difficult economic situation due to the high level of country-risk, unstable political situation, the state of economy and the imperfection of the legal field. To remedy this situation, the state must adopt a set of measures of regulatory type urgently and implement appropriate reforms at a pace that could allow it to go up against other countries. The information base for this research was chosen from the report «Doing Business» (DB) which is published annually by the World Bank.

The main purpose of this work is to identify recently accepted reforms in business that marked a positive outcome for the business environment in Ukraine and to provide a number of countries, which experience should be taken into account in the relevant areas of business for the future of our country.

Exploring the report «Doing Business 2013», in which the conditions for entrepre­neurship on ten different indicators for the period from June 2011 to June 2012 were analyzed, we should note that Ukraine has taken 137 position among 185 countries [2, p. 3] (in 2008 – 144 [1, p. 6]). This suggests that the reforms that have been conducting in the country since 2009 finally began to work for the country but not in spite of its foreign policy and economic commitment. However, we need to figure out exactly what reforms contributed to facilitate doing business in Ukraine.

According to the report «Doing Business 2013» they are: registration of business: the simplification business registration process took place by eliminating the minimum requirements to the capital size of the company, as well as the requirement to the notarized statutory documents; payment of taxes: the process of paying taxes became easier through the implementation of electronic filing and payment for the medium and large enterprises; registration property: the process of transferring property became faster due to the introduction of the effective term of the transfer of processing applications to the land registry in Kiev [6].

However, taking into account the data of three reports «Doing Business» (DB2011, DB2012 and DB2013), we can analyze some dynamic of influence of accepted business reforms on Ukraine’s position in the list of countries for each indicator of business conditions (Table 1) [2, p. 3; 3, p. 2; 4, p. 8; 5, p. 8].

Table 1. Ukraine’s position considering the indicators of doing business’ conditions

Table 1 represents the list of the countries that occupy the first positions on the relevant indicator of business conditions and Ukraine should refer to them in order to achieve positive results in business due to the fact that these countries in the rating «Doing business» occupy the following positions: New Zealand (3), Hong Kong, China (2), Iceland (14), Georgia (9), United Kingdom (7), United Arab Emirates (26), Singapore (1), Luxembourg (56) and Japan (24) [2, p. 3]. Although some of these countries are not even in TOP-10, nevertheless they are as a model for Ukraine, and their experiences should be adopted and implemented in our country.

Conclusions. Finally, the accepted business reforms in Ukraine began to work and bring good results for business. As we can see our country takes 137 place in the report «Doing Business 2013» and this result isn't the worst position among 185 countries. Concerning the rating of the countries for each component of the business environmental conditions we can see Ukraine has shown good results thanks to these reforms including such indicators as: business registration, registering property, getting credit, paying taxes and enforcing contracts. But our government should move on. At present reforms in coordination of construction, energy, protection investors, export-import operations and liquidation are important for Ukraine. The main task is also not to lose positions that our country has, implementing certain business reforms year by year to obtain relevant results. To reach a goal it is important for Ukraine to consider the experience of the leading countries in the rating «Doing business» and the best representatives of each indicator in entrepreneurship in order to not to waste its achievements and not to do those mistakes in conducting business reforms that were made by other countries in the world.

The list of references:

1. Doing Business 2009 // The World Bank. – 2008. – P. 6.

2. Doing Business 2013 // The World Bank. – 2012. – P. 3.

3. Doing Business 2011: Ukraine / Making a Difference for Entrepreneurs // The World Bank. – 2011. – P. 2.

4. Doing Business 2012: Ukraine / Doing Business in a more Transparent World // The World Bank. – 2012. – P. 8.

5. Doing Business 2013: Ukraine / Smarter Regulations for Small and Medium-Size Enterprises // The World Bank. – 2013. – P. 8.

6. Business Reforms in Ukraine // The World Bank, 2013 [Web resource]. – Access mode: http://www.doingbusiness.org/reforms/overview