Public Regulation and Administration in the Sphere of Small Business

The article highlights the system of public regulation and administration of the small business. The purpose of the article is to study features of public regulation and administration in the sphere of small business and to form conceptual foundations of its improvement. The subject-matter of the study is the theoretical and practical aspects of public regulation and administration of small business in the country. In the course of research, the following methods are used: dialectical – to identify factors and system of public regulation, system analysis – to determine the essence of state support for the country’s economy, graphical analysis – to present schematically the general theoretical and practical results of the study, logical generalization of results – to substantiate the basic prerequisites for the formation of state support system for small business. The essence and importance of public regulation and administration in the sphere of small business are studied. Index of Economic Freedom is analysed and the ranking of countries by the ease of doing business is built. It is determined that the current political and economic situation in Ukraine is unfavourable, which considerably slows down the development of small business. Main prerequisites for the formation of the system of public regulation and administration of small business are revealed and justified: improving the legal framework to facilitate the development of small business; providing a system of benefits for small business; development of business environment infrastructure; expansion of small and large business cooperation; state support for the development of factoring and leasing activities; providing financial and credit and also investment support to the business sector; management and information support.