Assessment of Business Competitiveness For High-Priority Regional Funding

The paper considers development trends of modern economy in the conditions of continuously strengthening competition in domestic and international markets. The principles for assessing competitiveness of regional business structures are stated clearly. Using these principles in managerial decisions will help to reveal possible sources of finance support on the part of regions. The methods and optimization mathematical model are shown, which will allow regional governmental structures to objectively and reliably decide on allocation of financial resources based on statistical data about the activities of business structures. An example is given for defining an integral indicator of business structures' competitiveness by nine priority branches in St. Petersburg. The paper defines the objectives solved by regions when applying the proposed methods and models, which are related both to the need for import substitution in the domestic market and massive launch of regional products in international markets, including those ones where Russian products have not been previously presented. The proposed research topics will allow expanding and specifying the use of the principles ensuring competitiveness of regional business structures.