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Most Ukrainian farming enterprises run their activities following the principles of self-sufficiency. Therefore, the principal way of introducing innovations is to reinvest their profit (Hnatyshyn, 2018). In that context, Siekelova and other scientists (2018) stress on the importance of profit as a principal motivating factor of small enterprises operation. Liubkina, Murovana, Magomedova, Siskos & Akimova (2019) insist on the importance of innovations as a key factor influencing enterprises’ competitiveness. However, to stimulate innovative activities of enterprises, it is necessary to apply some financial tools. To assess efficiency of management of the enterprises’ innovative development, it is proposed to consider impact of the resource and financial factors (Grуnko & Gviniashvili (2017)).
Fedonin, Riepina & Oleksiuk (2004) consider innovations make an immediate impact on the current and future capabilities of the economic system that is important to transform the incoming resources into the maximum satisfaction of corporate and social interests. According to Rossokha (2005), innovative decisions maintain enterprises’ abilities to continue their development. Innovations are the driving force of farming enterprises’ development, and according to Shumpter (1995), they support an increase of the efficiency of use of the production factors, which are getting more expensive. Thus, the innovative way of development aims to increase earning of farming enterprises (Koshkalda, Hnatyshyn & Prokopyshyn (2019)). It is particularly true under conditions of the limited access to credits because of high interest rates. Therefore, Hoang (2017) confirms a negative impact of limited crediting on the income of family farms and proposes to simplify the access to the system of microcrediting and microfunding.
Despite the numerous scientific works that are devoted to examination of statistically significant relations between the labour and financial resources and efficiency of the innovative instruments use in the enterprise activities by applying the economic-mathematic methods (Malyarets, Babenko, Nazarenko & Ryzhikova (2019)), there are few researches on the problems of using the methodic approaches to identify the factors influencing the profit increase. The value of profit characterizes the farming enterprises’ capability to develop on the innovation base. Not much attention is paid to substantiation of the stimuli, which motivate farming enterprises to follow the innovative way of development that is focused on increase of their profit.