Business Inform

6-11

Authors: Isaieva N. І.

The present day strategizing is a single technological complex and a continuous process of creating a National strategy for socio-economic development. The National strategy is a comprehensive document containing the most important directions, mechanisms, methods of public administration, which are based on long-term priorities, goals and objectives of the policy of public authorities. In order to implement the National strategy, documents of the State strategic management system are developed, agreed on long-term socio-economic goals and priorities. Therefore, the creation of a mechanism of goal-setting at the present stage of Ukraine’s development is a key direction in the formation of a strategizing system. The article is concerned with examining the theoretical principles of goal-setting, determining the place and role of strategic goal-setting in the process of strategizing the socio-economic development at the national level. It is substantiated that strategic goal-setting is a system-creating factor of strategizing and a fundamental process of development or actualization of the National strategy and forms a tree of goals consisting of the following mandatory elements: strategic vision, mission, priorities, value, general goal, strategic goals, operational goals. The analysis of problems of goal-setting in the strategies of socio-economic development of Ukraine, including in the regions, is carried out and recommendations for improving the system of strategic goal-setting are proposed. On this basis, the author has developed a comprehensive mechanism of strategic goal-setting for practical use in the process of creating or actualizing the strategies of different levels. The proposed strategic goal-setting mechanism is directed towards taking into account the specifics of an actor of strategizing, defining the conceptual bases for strategizing, formulation and approval of the goal tree in the construction of the National strategy for socio-economic development, and also includes standards for public participation in the process of strategic goal-setting.

23-28

Authors: Kaverina K. O., Sholom A. S.

The existence of tax havens is an integral phenomenon of the modern stage of the world economy development. They compete with each other on the basis of tax rates, privacy level, quality and speed of the service offered. Determining the impact of tax havens is now a rather pressing issue, deepening which has largely contributed to leakages of information, particularly the Panama Papers. However, the leaks of information from tax havens are not sufficiently covered in the research of both domestic and foreign scholars. The article is aimed at examining the impact of tax havens and the Panama Papers information leak on the world economy. The definition of tax havens and their scale in modern conditions of globalization economy is considered. In the systematization of scientific works the relatively different leaks of information from tax havens were compared and the largest of them was identified. The essence of the activities of Mossack Fonseca, the company that was the victim of the data leak, is disclosed. The dynamics of registered offshore companies within the framework of the Panama Papers leak are substantiated. With the help of a mathematical model, the authors computed a trend vector of movement of the number of companies, which are using the services of offshore zones. As a result of regression trend analysis, it was defined that the number of companies registered by Mossack Fonseca tends to grow (an average of 292 units annually). This indicates that, despite the publication of classified information, the popularity of tax havens continues to increase. The main intermediary countries, which are most popular in tax speculation, are provided. It is determined that the simplicity of formalization and registration of companies, the lack of control over subsidiaries of multinational business groups are key attributes of the activities of tax havens that contribute to their use to avoid paying income taxes and money laundering. The consequences caused by the activities of tax havens and information leaks from them have been formulated. The most important among them are: sanctions provisions and monitoring of offshore activities.

38-43

Authors: Yevdokimov O. V.

At the present stage of Ukraine’s development, its tourism resources are extremely limited compared to the leading mass and cultural-educational tourist destinations of the world, which creates the need to find alternative directions for the development of the Ukrainian tourism market. Rural tourism has been successfully practiced abroad for many years, which in the future can become a full-fledged component of the tourism market of Ukraine and a guarantee of its tourist attractiveness. In order to successfully implement these potential innovations in the Ukrainian tourism sector and prevent mistakes already made by the pioneers of rural tourism, the experience of developing this type of tourism abroad requires detailed study, which became the aim of this article. Analysis, generalization and classification were used as research methods. The publication defines approaches to the regulation of rural tourism; factors of diversification of approaches to stimulation and regulation of rural tourism development are identified; functions of the State regulation related to the development of rural tourism are classified; the experience of rural tourism development of Cyprus, Sri Lanka, Canada, India, the USA, Australia, Great Britain and Germany is analyzed, general and distinctive features are distinguished; the instruments used in the framework of organizational and economic mechanisms to support rural tourism abroad are defined; approaches to supporting the development of rural tourism are formulated according to the criterion of intensity of efforts on the part of the State and regional management bodies; the role of rural tourism in the development of agriculture is substantiated; the key factors of using foreign experience in the rural tourism development in Ukraine are identified. According to the results of the carried out research, rural tourism has every chance to be successfully implemented in the tourism market of Ukraine.

50-55

Authors: Lahun A. I.

In recent decades, we have all witnessed the emergence of qualitatively new trends in the development of corporate venturing, which justify its dynamic structural dynamics, global character, as well as diversified implementation mechanisms and a powerful influence on the dynamics of global scientific-technological progress. Corporate venturing is a system of measures, mechanisms and instruments for financing by the business structures, belonging to the corporate sector, of the processes of development, support, incubation, introduction and implementation of venture capital startups, innovative programs and projects materialized mainly among small innovative firms under the care of the parent divisions of multinational enterprises (MNE) and underlying the development in global coordinates deeply integrated at the horizontal and vertical levels of corporate venturing ecosystems. First of all, worth noting is the dynamic increase of the value scale of innovative venture capital financing of corporations and the growth of interregional asymmetry in its accumulation. Meanwhile, the activity of MNE in the field of corporate venturing indicates the growing inconsistency of the private monopolistic form of innovatizing the global production with the objective needs of national economic development in the context of technoglobalism. As a result, at the interstate, regional and supranational levels, the issue of the development of qualitatively new forms of scientific-technical cooperation of economic entities becomes actualized; the same is valid for the development of global innovative and professional networks of researchers, scientists and research staff; also the efficient combination of production resources, as well as the socialization of labor and the concentration of innovative capital in order to promptly solve the most relevant scientific and technical problems for the world community.

63-69

Authors: Balian A. V.

The article defines that recently, under the influence of global processes, pandemic and volatility of international agri-food markets, the high dynamics of transformations in the world economy has been generating more and more risks for domestic producers and requires effective decision-making in the legislative and regulatory field at the State level. Thus, formation and implementation of strategic priorities of institutional support for the agrarian economy of Ukraine in the context of European integration processes remains an actual problem. The article is aimed at substantiating the strategic priorities of developing the institutions of the National Academy of Agrarian Sciences of Ukraine in the context of changes in the global environment and under the influence of European integration processes. In order to achieve the aim, analysis of modern problems of institutional support of the agrarian sphere of the national economy of Ukraine in the context of European integration processes is carried out. It is noted that the COVID-19 pandemic has had a significant impact on the implementation of the tasks of the structural units of the National Academy of Agrarian Sciences as a scientific institution to provide innovative support for the development of the industry. Emphasis is placed on the chronic underfunding of research and development at the State level, which inhibits the effectiveness of innovative providers in the agricultural sector. The main directions of further development of agribusiness in order to ensure the competitiveness of domestic products in agri-food markets and ensure food security of the country are identified. Emphasis is placed on the intensification of significant export potential, in particular organic production, the volume of supplies to world markets is growing. However, it is proved that the effectiveness of the implemented strategies for scientific support of the agricultural sector requires proper funding, responsible attitude and vision of the economic perspective behind it. In order to intensify the innovative model of scientific activity in the agrarian sphere and in the context of integration into the European Open Scientific Space, the first intermediate results of the activities of the State-owned institutions of the National Academy of Agrarian Sciences are determined.

75-80

Authors: Shkoda T. N.

The global crisis caused by the COVID-19 pandemic has suspended not only the development of the aviation sector, but also the global economy in general. The possibility of acquiring the pre-crisis level indicators by domestic air transport enterprises depends on the effective solution of problematic issues to increase their competitiveness in the liberalized aviation market. This publication is aimed at carrying out systematization and identifying the prerequisites for efficient strategic management of Ukrainian air transport enterprises on the basis of consideing modern challenges in the development of the air transport services market, the conditions and industry peculiarities of the activities of aviation business entities in Ukraine. According to the results of the conducted study, the list of obstacles that hinder the development of air transport in Ukraine are systematized. The identified sufficiently strong dependence of the added value created by domestic airlines on such factors as the amount of time worked, the number of airlines, the volumes of passenger transportation and the number of advanced technologies used, pointed out the expediency of taking into account the stimulating impact of these factors on the business activity of domestic air transport enterprises for the development of the national economy. The results of the study of the prerequisites for increasing the competitiveness and development of air transport enterprises of Ukraine have testified to the need to create conditions for efficient strategic management of Ukrainian airlines, which together, due to the creation of additional jobs, as well as added value, have a direct impact on the formation of Ukraine’s gross domestic product.

87-93

Authors: Haidukov M. O., Shumilo O. S.

The essence of the concept of «financial security of enterprise» and threats to it is researched; their classification is provided. According to the results of a comparative analysis of the scholars’ definitions regarding the concepts of «financial security of enterprise» and «threats to the financial security of enterprise», the authors’ own definitions are presented. Financial security of enterprise is considered as an instrument that ensures the sustainability and security of enterprise in the process of implementing its development strategy from the internal and external factors, threats both in the current period of activity and in the future. A threat is a course of events of an external or internal nature, which affects the financial condition of enterprise and entails consequences of varying degrees of severity, the solution of which will require financial, time, labor costs. According to the results of the study of scientific definitions on the essence of financial security of enterprise, some features are allocated. Financial security of enterprise is understood by the authors as: a component that allows choosing and implementing a financial strategy; the ability of enterprise to independently develop and conduct a financial strategy; the result of managed processes, which ensures the acquisition to some extent of its financial freedom; the state of protection of financial interests of enterprise; the financial condition of enterprise; the ability to create and maintain financial conditions at the enterprise; the status of financial security with the ensured business processes. The authors’ own classification of threats according to a number of signs and types is suggested and considered: by the place of origin, by the type of origin system, by the degree of losses, by the possibility of forecasting, by the prospect of impact, by the stability of influence, by the consequences of influence, by the fact of influence, by the threat subjects, by the type of disasters. The research of the essence of financial security of enterprise and threats to it has displayed the complexity and diversity of these concepts. This is evidenced by an extensive range of definitions, each of which has its own characteristics. It should also be noted the absence of a unified classification of threats to financial security.

100-104

Authors: Kovtunenko K. V., Didan K. O., Kovalchuk O. V.

The article is aimed at generalizing the views of various scholars on the essence of the concept of «competitiveness» and allocating the properties and factors that characterize the competitiveness of enterprise. In modern conditions of economic development, of particular importance are the theoretical foundations of the conception of competitiveness, which should be based on the comprehensive approach and should be considered by means of this approach. The concept of «competitiveness» derives from the concept of «competition», which acts as an element of the market mechanism for regulating supply and demand; as a form of interaction between economic actors in the market; as an economic rivalry of individual producers for market share and receipt of an order; finally, as a mechanism for regulating the proportions of public production. In order to successfully operate in conditions of high competition in the market and to maintain the necessary level of competitiveness, enterprises and organizations master new types of services, introduce new forms of business, stimulate their employees and fight for the involvement of each client. When planning its activities, a company takes into account not only the needs of customers, but also the strategies of competitors. Based on the information obtained during the study of competition conditions, the company’s development strategy in the market is largely formed, and the general strategy of the enterprise goes the same way. Thus, a positive result in competition is achieved as a natural result of constant and competent management efforts. How positive this result will be depends largely on the competitiveness of the enterprise. The article discusses the essence of the concept of «competitiveness» as an economic category, analyzes various approaches to the definition of this concept and carries out an analysis of competitiveness of enterprise. Competitiveness is an important element concerning entering the market and keeping the enterprise’s positions at the market, especially in the context of pandemic and quarantine, so the topic under research is very relevant nowadays.

113-118

Authors: Honcharuk S. M.

The article substantiates the need to develop audit functions related to the accomplishing of assurance engagements. The research used methods of structural and logical analysis, comparison and generalization of the requirements of the International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements, as well as the current legislation. The purpose of assurance is to increase the users’ trust in the information verified by the auditor, which must be reliable and logically grounded. The auditor who performs the assurance engagement concludes that it is intended to increase the degree of trust of future users in the results of the evaluation or comparison of the subject of the engagement with the relevant criteria. The article provides outcomes of an analysis of the market of audit services in Ukraine for 2017–2019, which indicate that the audit market is functioning and is being transformed. The volume of accomplished engagements compared to 2017 has increased by almost UAH 898 million. It is substantiated that the audit firm should adhere to a number of principles that would ensure the assurance of users in the accuracy of information. These can include the following: integrity, continuity, relevance, optimality, efficiency, attracting and preserving customers, monitoring. It is proposed to develop audit in the direction of ensuring the requirements for public awareness about its activities, carrying out inspections of quality control systems, ensuring transparency of contractual relations, the results of the implementation of assurance engagements, as well as the introduction of additional requirements for them, etc.

126-131

Authors: Solodovnik O. O., Dokunina K. I.

Historically, new investment projects, advanced technologies and financial innovations appear during the crisis period. However, the issues of using modern technologies in the public finance system are at the formation stage, which actualizes the task of arguing the use of innovative technologies that can provide simplicity, speed, and most importantly, the security of most financial transactions in the sphere of public finance. The article is aimed at researching and systematizing existing approaches to defining the essence of the concept of «blockchain» in order to substantiate the directions of improvement of the public administration system and the implementation of blockchain technology in the sphere of public finance. The definition of «blockchain» is studied and its interpretation is proposed as follows: this is a distributed database with registered and ordered economic transactions which, subject to certain conditions, can be connected and to which a specific transaction can be performed. The advantages and disadvantages of using blockchain technology are determined. It is established that blockchain has significant potential for use in various spheres of public life and, despite certain shortcomings, allows to improve the system of public administration. It is argued that to ensure the efficiency, information transparency and security of operations with budget funds, it is advisable to use innovative blockchain technology. It is proved that the implementation of this technology in the sphere of public finance will contribute to solving accumulated problems. It is determined that the modern paradigm of blockchain technology has become the basis for the implementation of smart contracts, but the issue of the use of this technology in such contracts is under formation and needs to be improved in terms of developing the conceptual basis for signing smart contracts by various economic entities.

140-147

Authors: Hladkykh D. M.

The article is aimed at examining the key features, the main stages of development and the current status of the market of non-banking financial services in Ukraine and the formation on this basis of the main directions of its further modernization. The key stages of formation and functioning of the market of non-banking financial services are determined as follows: extensive development (1991-1994), organizational formation (1995-1999), growth (2000-2008), systemic financial crisis (2008-2009), post-crisis (2010-2013), significant fall (2014-2019), active reforming (from 2019). The peculiarities of the last stage characterized by modernization of the insurance market, factoring market, non-bank leasing market, financial companies, pawnshops, credit unions are researched. The following directions of further modernization of the non-banking financial services market are proposed: strengthening the financial sustainability of market participants by improving regulatory requirements, updating the legislative framework; increasing confidence in market participants by cleaning it from problem institutions, introducing a system of guaranteeing funds of individuals and legal entities; promoting the expansion of the insurance market and the development of non-state pension provision as sources of mobilization of «longer» financial resources; increasing the level of financial inclusion of the population with priority development of access to financial infrastructure in rural areas; promoting the development of online services, the infrastructure of non-cash transactions, increasing the proportion of non-cash transactions; encouraging competition and innovation.

156-161

Authors: Bechko P. K., Vlasyuk S. A., Bechko V. P., Shumylo T. V.

The article is aimed at theoretical substantiating the conceptual bases of taxation fairness as a component of tax system. For solution of the aim set in the article, general methods of scientific knowledge together with research of economic phenomena were used. The theoretical-methodological basis of the research is the work of foreign and domestic scholars who study the problems of the tax system as a whole and taxation fairness in particular. The following methods were also used in the research: monographic, comparison, abstract-logical, scientific generalization. The theoretical aspects of taxation fairness are considered. The main provisions that characterize the level of fairness of tax system are analyzed. The possibility of introducing approaches to compliance with the essence of fairness into the tax system is evaluated: from the point of view of the taxpayers’ solvency; compliance of the benefit received by taxpayers from the State; observance of a harmonious combination of interests of all participants in tax relations. It is reasoned that tax benefits do not contradict the principle of fairness in taxation. It is proposed, in the current version of the Tax Code, to reflect the principle of taxation fairness, which should serve the legislative and executive authorities, as well as taxpayers as a guideline in the development and implementation of tax policy.

170-178

Authors: Sloboda L. Y., Rudenko Z. M.

The article is aimed at examining the modern features of the motor car insurance market in a pandemic period based on the analysis of tendencies and challenges in the activities of market participants to substantiate the promising vectors of transformation of this sector of the insurance market in Ukraine. As result of the study, the activities of domestic leading insurance companies in the sphere of motor car insurance by types of insurance and its forms; introduction of electronic policies and remote insurance services; activation of electronic European protocol; settlement of insurance events, tariff and price policy are analyzed. The channels of distribution of insurance services in the sphere of motor car insurance are explored and approaches to the use of remote Internet channels of customer service and sale of insurance products are developed. In particular, through the use of telematics technology based on the integration of the means of telecommunications and information processing and information transmission instruments, which significantly simplifies and accelerates insurance processes. According to the results of the analysis, a number of stimulating and disincentive factors in the development of the motor car insurance market of Ukraine are distinguished. The influence of financial and regulatory challenges in the activity of participants of the motor car insurance market in Ukraine is determined and the key problems of its functioning in the conditions of recessive phenomena of COVID-19 are singled out. The proposed recommendations are characterized by a modern approach to taking into account the peculiarities of the motor car insurance market in Ukraine in the process of developing measures to improve its functioning through the integration of its qualitative and quantitative trends both at the macroeconomic (the State-controlled) and at the micro level – insurance companies and their cooperation with policyholders.

188-194

Authors: Kylnytska Y. V., Serhiienko Y. I.

The article carries out a study on the main provisions of the stakeholder theory and the definition of the concept of «stakeholder». A classification is provided and a scheme of stakeholder groups from the position of their interaction with the enterprise is built up. Stakeholders are divided into internal ones, i.e., those that have a direct impact on strategic and operational activities, and external ones, i.e., those that indirectly influence the activities of enterprise. It is identified that all groups of interested parties that influence the achievement of the goals and results of enterprise are its stakeholders, and their interests must be taken into account in the process of activities and management of the enterprise. The AA1000SES standard (Stakeholders Engagement Standard) is considered and it is determined that the implementation of this standard indicates the readiness of the enterprise to conduct activities on the basis of the principle of transparency, that is: to report to interested parties; have readiness to respond to the stakeholders’ concerns and questions; to comply with legislation, standards, principles, codes and other voluntary obligations. The stages of defining stakeholders and their impact on enterprise in both foreign and domestic practice are considered. International practice of interaction with interested parties is investigated and its similarity with the national one is noted. It is summed up that at foreign enterprises the work is carried out more in terms of key stakeholders, while domestic enterprises try mainly to cover the participants of the «far circle». The scheme of the process of managing relations with interested parties at the enterprise is built up and it is determined that the process of transition from one stage to another is carried out through the implementation of management procedures, i.e., the stages of the process of managing stakeholder relations at the enterprise. The basic principles of the system of management of relations with interested parties are considered and it is established that adherence to these principles makes it possible to improve the process of managing relationships with stakeholders. The practical significance of the obtained results is that they can be the theoretical and methodological basis for further research of the problems of managing the relations between Ukrainian enterprises and stakeholders.

201-206

Authors: Tiutchenko S. M.

The article substantiates the relevance of the introduction of a new risk management model at enterprises – a compliance control system, the peculiarity of which is that risk management becomes comprehensive and coordinated within the whole company. The article is aimed at developing and substantiating the model of organization of the compliance control system at the enterprise, which is based on the division of risk zones. Methodological scientific approaches to definition of concept and functions of compliance control according to the functional, process, system and effective approaches are analyzed. The model of organization of the compliance control system at the enterprise is proposed, which, unlike existing ones, is based on a clear division of the acceptable risk zone (the maximum level of residual risk that an enterprise can take on without a threat to its existence), which includes risk appetite and risk tolerance (an additional amount of residual risk that the company is ready to take if measures are taken to minimize risk), and an unacceptable risk zone that begins with exceeding the compliance price over compliance losses. In order to make decisions on mitigation of risks at the enterprise, it is proposed a methodology for the formation and implementation of a compliance control system. The developed strategies for each stage of compliance control implementation are effective and can be used at any enterprise in order to reduce risks and increase economic security.

212-219

Authors: Kotliarovа V. H., Bratishko Y. S.

Management of metrological activity is an integral component of the management of a modern enterprise. Implementation of effective and high-quality metrological activity at the enterprise is a guarantee that the products manufactured meet the corresponding technical requirements. Therefore, definition of the concept and essence of metrological management is relevant. The article is aimed at defining the concept and essence of metrological management and developing a scheme of its application in the management of metrological activity of enterprise. It is determined that the object of metrological management is the measurement processes at an industrial enterprise; subject – aggregate of technical, technological and organizational means necessary for the implementation of measurement processes. The authors propose the approach to the formation of a metrological management system, which consists of two subsystems: 1) formation of a metrological management system, the purpose of which is to organize methodological and resource provision of measurement processes at the enterprise; 2) operation of the metrological management system, the purpose of which is to ensure the guarantee that the manufactured products meet the corresponding technical requirements. The constituents of the system are interconnected through the relationship of tasks. The scheme of application of metrological management in the management of metrological activity of an industrial enterprise and a methodology for assessing the quality of its operation are developed. The proposed approach will allow enterprises not only to build a system of metrological management, but also to implement it, which will increase consumer confidence in the quality of products and will be the key to a stable market situation.

225-231

Authors: Volkova M. V., Shved A. B.

The article improves the cost management system of construction enterprise. It is specified that the process of managing costs at a construction enterprise depends on the efficiency of the existing general system of the organization management and the level of use of certain methods and instruments by which effective managerial decisions are made to ensure financial stability. A definition of a system of cost management of construction enterprise is provided, whereby the system of economic interests and management methods of directed influence on the interests of the economic entity in order to coordinate them with different groups of stakeholders to comply with the relevant proportions in the formation of costs is meant. It is noted that today, in the face of stiff competition in the construction industry of Ukraine and negative trends in the country’s economy related to the COVID-19 pandemic, solution to the issues of improving the cost management system should be based on the concept of strategic management, management in terms of special purpose self-cost, target-costing and kaizen-costing as means of achieving the specified construction enterprise costs. It is concluded that the improvement of the cost management system of construction enterprise is possible on the basis of making effective managerial decisions based on the use of scientifically based approaches to analyzing the cost structure, planning the level of costs, planning profits taking into account the amount of expenses made, along with implementation of an effective system of motivation of employees to control and reduce costs, etc. The proposed cost management system of construction enterprise will allow to organize and purposefully implement a policy of comprehensive reduction of the self-cost of construction products, rationally invest in modern construction projects, and implement the set strategic goals.

242-247

Authors: Mayovets Y. Y., Sokhetska A. V.

The article reflects the current trends of digital transformation in the banking sector of Ukraine, due to the introduction of new marketing channels. Banking services in Ukraine and around the world are rapidly changing under the influence of information technologies, which requires the introduction of new standards and communication channels. Traditional marketing communications in banking institutions were based on a number of marketing instruments, namely: advertising, direct marketing, branding, PR activities, publicity, stimulating the sales, loyalty programs, sponsorship, personal sales, presentations of products. Recognition of «digital transformation» by various analytical institutions reflects its role in scaling information processes, increasing economic efficiency and integrating the business processes of different participants on a single open platform. The digital transformation of organizations includes the following stages: digital beginners, digital subscribers, digital innovators, and digital leaders. In Ukraine, the evolution of digital transformation is based on the Fintech Development Strategy in Ukraine until 2025, developed by the NBU. The latter includes the expansion of digital technologies and their integration on open platforms, as well as the use of built-in financing. The article specifies that, despite all the advantages of digital transformation, the banking sector was one of the first to face financial fraud through online communication channels (Viber, WhatsApp, etc.), when the consumer is attacked in an aggressive manner, demanding personal data of bank cards. Such risks require receiving feedback from the client in order to promptly solve the problems of personal data leak and, if necessary, block the client’s card. In the process of evolution, new levels of digital platforms are being formed, which allow not only customers and staff of banks to connect to them, but also providers of various solutions through the BaaS model. Marketing communications provide for the education of financial literacy in customers and the formation of feedback by quickly responding to complaints.

254-260

Authors: Tardaskina T. M., Hryshchuk T. V.

The article is aimed at exploring the Ukrainian market of cloud technologies and defining its features, as well as the role of telecommunication operators in the development of this market in the modern conditions of the digital economy. The publication determines that the current conditions of the pandemic only accelerated the spread of the introduction of cloud technologies and gave impetus to certain trends in this sphere. Cloud technologies and cloud services have helped meet the need for tools to work in novel conditions. The article analyzes the state of the world and national cloud technology market. In the course of the research work, the main domestic players in the cloud market were studied and the characteristic features of their interaction with consumers were determined, as well as the role of telecommunications operators in the provision of cloud services. On the basis of the conducted research, the features of the use and development of cloud technologies in the digital economy are determined, as well as barriers to further development are specified. According to the results of the research, we can conclude that Ukrainian telecommunications operators in the cloud technology market have a very small share, provider companies are unlikely to weaken their positions and allow traditional operators to win most of the market. Based on the analysis of the Ukrainian cloud market, the most appropriate model for the development of cloud market entities is developed. It is easier to add cloud segment services to large telecommunication companies that already have developed infrastructure in Ukraine. They become intermediaries between providers and users, promoting comfortable interaction between them. This is the 24/7 hotline expert support of clients throughout Ukraine in a known language and with representation in almost every corner of our country; this is the execution of contracts in accordance with Ukrainian legislation, in national currency; this is the storage of data in reliable data centers of the provider, most often in the country.