Financial inclusion as a determinant of inclusive development of small entrepreneurship under conditions of limited resources

Relevance. Under conditions of limited resources and crisis shocks, financial inclusion of small businesses has become a crucial factor in ensuring inclusive economic development in Ukraine. Insufficient access of SMEs to financial services reduces their resilience, deepens regional disparities, and limits job creation.
Problem Statement. Prior to the war, nearly 40% of the adult population in Ukraine did not have a bank account, and over 46% of SMEs had never used external financing. The war of 2022–2023 further restricted access to credit and investment, particularly in high–risk regions.
Purpose and Objectives. The purpose is to justify the role of financial inclusion as a determinant of inclusive SME development in 2020–2024. The objectives include analyzing the state of financial inclusion, identifying access barriers, assessing regional disparities, and developing support mechanisms using a cluster–based approach.
Methods. Cluster analysis was applied to group regions by the level of financial inclusion, complemented by statistical analysis, official reports, and international research.
Main Results. The study shows that financial inclusion is a multidimensional phenomenon encompassing access to credit, development of non–bank financial instruments, digitalization of services, and financial literacy. State programs («5–7–9%», «YeRobota»), grants, and international aid proved decisive for SME survival, although access to financial resources varied significantly across regional clusters.
Practical Application. The findings can be applied in developing a national strategy for SME financial inclusion, improving government support programs, shaping regional policies, and designing post–war recovery strategies.
Conclusions. Financial inclusion is the foundation of inclusive economic growth as it drives job creation, reduces social inequality, and enhances economic resilience. To transform financial inclusion into a sustainable driver of development, comprehensive measures are required, including institutional reforms, digitalization, targeted cluster support, and improved financial literacy.