UDC

334.73

Authors

Butorin Sergey Mikhailovich
Modern University for the Humanities (Moscow, Russia)
e-mail: bsmarch@mail.ru

Abstract

The article deals with the formation and development of entrepreneurship in the Arkhangelsk Province in the 18th to early 20th centuries, as well as its role in the development of key branches of the region’s economy. The study showed that, despite the encountered difficulties and obstacles, entrepreneurship proved to be an important element in the socioeconomic development of the region. Considering the unfolding situation in the country, entrepreneurs contributed to the development of local production by gradually redirecting their capital to more promising sectors with potentially rapid growth and higher profits. The analysis showed that by supporting private initiative the state created favourable conditions for business, thereby contributing to the development of natural resources in the North, pooling of capital, and establishment of large-scale production which determined the key areas of economic development in the region for years to come. This specialization of the region is still important in the early twentyfirst century. The development of entrepreneurship during the pre-revolutionary period is reflected in numerous local print publications issued by the provincial government and provincial statistical committee, as well as in newspapers and magazines published by social and political organizations. This allows us to study the process of formation and development of entrepreneurship in this particular region, evaluate its efficiency and impact on the development of the region’s socioeconomic sphere.

Keywords

entrepreneurship, private enterprise, Arkhangelsk, local production, branches of the economy

References

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