FINANCIAL INCLUSION OF ENTREPRENEURSHIP IN THE CONDITIONS OF DIGITAL AND INSTITUTIONAL TRANSFORMATIА
Abstract
The article examines financial inclusion as a systemic factor in the development of entrepreneurship under conditions of digital and institutional transformation of the economies of Ukraine and the European Union. The aim of the study is to substantiate the role of financial inclusion in shaping entrepreneurial activity and to identify the mechanisms of its impact, taking into account the digitalization of the financial sector and the specifics of the institutional environment. It is shown that financial inclusion is transforming from a tool ensuring access to financial services into a multidimensional mechanism for stimulating entrepreneurship, encompassing resource, transactional, and institutional dimensions. The author’s contribution lies in the development of conceptual provisions regarding the relationship between financial inclusion and entrepreneurship through a system of indirect transmission channels, as well as in the formation of an enhanced assessment model that integrates traditional and digital indicators of financial access. An approach is proposed that distinguishes financial inclusion and digitalization as separate but interrelated determinants of economic development, allowing for a more precise identification of their impact on entrepreneurial activity. Scientific novelty lies in the conceptualization of the interactive effect of financial inclusion and digitalization, as well as in accounting for regional and gender heterogeneity as important conditions for forming an entrepreneurial ecosystem. It is proven that the digitalization of the financial sector acts as a reinforcing factor of financial inclusion, reducing barriers to financial resources and contributing to the development of small and medium-sized enterprises. The practical significance of the results lies in their potential use for improving public policy for entrepreneurship support, developing fintech instruments, and implementing European approaches to financial inclusion in Ukraine. It is established that financial inclusion has a multi-level impact on entrepreneurship and represents an important factor of economic growth, inequality reduction, and the formation of an inclusive economic model in the context of European integration. It is determined that its effectiveness largely depends on the level of digital maturity of the economy and the quality of the institutional environment, which shapes the potential for scaling entrepreneurial activity and economic resilience.
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