The Community's Brand Territory: Financial Aspect (Examples of the Territorial Community of the City of Kryvyi Rih)

Abstract

Objective. The purpose of the study is to analyze the financial aspect of ensuring the formation and development of the brand of the territorial community, as an effective means of ensuring its economic and social development. Methods. In the preparation of the article, general and special methods of scientific research of economic processes were used, in particular systematization, comparison - in the study of economic processes, phenomena and objects, in particular in the direction of finding sources and mechanisms of financing community development; grouping, detailing - for researching community development financing tools; system approach - to determine the potential of the community territory; methods of statistical analysis - for assessing the financial capacity of the territorial community. The results. The financial aspect of territorial community branding is studied. It was determined that the branding of the territory is an effective means of ensuring the economic and social development of the community. It contributes to the successful management of development, economic growth, social improvement and the formation of an attractive image of the region, which increases its competitiveness. At the same time, the authors draw attention to the fact that sources of funding for community development are various resources of interested parties: financial resources of local authorities, private enterprises, charitable organizations, international investors, etc. In addition, the components of the tools for providing financing for the development of communities are disclosed. The conducted research takes into account the financial aspect of brand formation, including financing and evaluation of its effectiveness. The authors proposed tools and methods for assessing the community's financial condition and the effectiveness of its development programs. Analyzing the financial capacity of the territorial community of the city of Kryvyi Rih, sufficient independence of the city in the formation of the budget and a high level of financial stability were determined. General budget expenditures increased, in particular for education, housing and communal services, and economic activity. In the process of research, the authors proved that branding of the community territory is a complex, multi-stage, gradual process that needs to be considered comprehensively. Only the assessment of the financial state will not give a complete description of the state of the community, but it is an important element in the strategic planning of its development and will help to assess how effectively the set goals were achieved.