Social Development in Ukraine in the Context of Intensifying Social Business

The relevance of the study is due to the necessity to deepen the theoretical and methodological analysis of social development. The article is aimed at substantiating and generalizing the impact of social entrepreneurship and corporate social responsibility of business on the level of social development of Ukraine. The components of social development, upon which the greatest influence occurs, are determined. The current trends in the development and spread of social business are analytically substantiated, the growth of the number of socially responsible business entities is proved. Thus, it is substantiated that social entrepreneurship overwhelmingly affects the solution of social problems of the population, in particular, employment; helps vulnerable groups of the population, including persons with disabilities; improves the state of community social infrastructure, etc. Instead, within the terms of corporate social responsibility, the social effect concerns ensuring decent work for its employees; responsible behavior toward stakeholders and society; solving social problems through the implementation of social projects or other social initiatives (in particular, charity and volunteering), as well as ecological problems. It is emphasized that the effectiveness of social influence largely depends on the coordinated interaction between business, the population and the State. The examined aspects of the activities of social entrepreneurship and corporate social responsibility allow to further substantiate a more efficient mechanism for increasing the level of social development of Ukraine.