The impact of ethnic entrepreneurship on the innovative development of the economic space of a polyethnic region

Abstract

In modern conditions, socio-economic development of regions implies searching for new opportunities and forms of doing business, for instance, making use of the ethno-social potential of territories, and ethnic entrepreneurship. The purpose of the present article is to analyse the opportunities of ethnic entrepreneurship as a resource for the development of the economic space in polyethnic regions. Ethnic entrepreneurship is studied through the prism of the interdisciplinary approach, which allows analysing the concept as both an economic and a sociocultural phenomenon. The article also presents the secondary analysis of the findings of sociological research. In the course of research, it has been found that the two subjects of ethno-entrepreneurial activity are ethnic migrants and ethnic minorities (or the ethnic majority) that are engaged in traditional economic activities. Each of the subjects employs its own ethno-economic development strategy, which is to be taken into account in the general economic development of a certain territory. The conclusion has been made that ethnic entrepreneurship is an established region-specific economic practice, which provides new opportunities for territorial development.