FINANCIAL SUPPORT AND DEVELOPMENT OF DIGITAL RURAL HUBS IN EUROPE

Digitalization is becoming increasingly important in today's rural society as a vital driver in maintaining European rural areas competitive globally. Thereby, the research problem lays upon the potential of providing flexible support to overcome the digital divide in order to improve the business environment in rural areas. The paper aims to provide scientific review of two major research approaches: 1) digitalization impact on rural businesses development; 2) ICT role in life quality improvement and rural communities' development. The practical issue concerns the potential of providing flexible support to overcome the digital divide in order to improve the business environment and communities' infrastructure in rural areas. The research is performed through review of scientific articles from the last ten years, evaluating the trends of rural hubs development in Europe, including deeper understanding of digitalization, innovative development and communication financial support. The results section represents findings to determine innovative financial support models, considering European funds and regional financial initiatives potential, to strengthen digitalization in rural areas. Synergetic effect within all-European and local financial support and rural development strategies will boost hubs development, overcoming the digital divide in rural area.