Organizational and financial features of business clusters formation

  • O. Lisnichuk National State Fiscal Service University of Ukraine
Keywords: cluster, cluster theory, business cluster, cluster policy


The article describes the organizational and financial characteristics of business clusters formation in Ukraine and European countries. The author came to the conclusion that the cluster is a territorially limited system of enterprises, which provides a cycle from production to the sale of products, within which there are: enterprises of the main production, enterprises and organizations, serving the main production, financial organizations, as well as research institutions, which provide innovative development. The author also concluded that in Ukraine the clustered form of organization of the economy has not yet become sufficiently applied and disseminated. There are no perfect investments and innovation mechanisms for the formation and functioning of clusters, financial mechanisms of state regulation of their activities are ineffective. This includes, in particular, financing, direct financial assistance, subventions, subsidies, etc. The main components of the state economic policy - monetary, tax, depreciation and investment (especially in the field of foreign investment in the border regions attracting) - still do not perform functions of regional development stimulators. In general, the formation of clusters in Ukraine is slow because the proper state policy is not implemented. A separate complexity is the need to provide conditions for the effective development of small business. As it was already mentioned in this paper, the cluster association becomes the center of concentration of investment funds, which affects the formation of the investment strategy of the enterprises members of the cluster. Within the investment strategy, enterprises form investment portfolios in the direction of the sources of attraction or in the direction of investment of these funds.


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How to Cite
Lisnichuk, O. (2018). Organizational and financial features of business clusters formation. Fundamental and Applied Researches in Practice of Leading Scientific Schools, 28(4), 74-79.