Typologies of small venture enterprises within the institutional framework: Implications for improving efficiency

Abstract

The Federal Law of the Russian Federation ‘On the Development of Small and Medium-sized Enterprises in the Russian Federation’ contains a contradiction between the goals of administering the small enterprises. To resolve this contradiction, it is necessary to investigate the core signs in order to institutionally guide small enterprises. The article’s urgency is to find a scientifically sound criterion to classify the diversity of small venture enterprises based on the resource-based approach. Due to the Scopus scientometric analysis, a two-pronged criterion has been determined: the way a small enterprise achieves economic sustainability depends on its degree of resource specialisation; the possibility of external interference affects a small enterprise dramatically. The content analysis of scientific literature reveals that market regulation is insufficient to achieve the goals of small-scale venture enterprises development. The practical conclusion is that enterprises should be distinguished according to the degree of specialisation in their resources, in order to be objects of active state-institutional industrial policy.

Affiliated Institutions

• Ural Federal University RU

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