Raffield B.T., III, Ph.D.
Asheville, North Carolina, USA
Kayira Z.S., Dr. Ec., Professor
Kayira I.O., Post-Graduate Student
Donetsk State University of Management
Donetsk, Ukraine

The newest European Training Foundation (ETF) initiative reflected in the recent Torino Conference “Learning 4 Evidence 4 Learning” aims mainly to improve significantly labor skills of young people and SMEs owing to enhancement of vocational education. European Training Foundation with a headquarters situated in Torino has involved all EU nations, Mediterranean countries, nations of Eastern Partnership, such as Russian Federation, Moldova, Ukraine, Uzbekistan, Kazakhstan, and Kyrgyzstan in the process of enhancement Vocational Education Training. This is a good beginning, however, it should go even further, because it is crucial to support ETF innovative initiative targeting to strength skills of young people and SME’s capabilities so that they could succeed in the marketplace and increase the number of successful business startups.
Aim of the research is to consider latest EU initiatives focused on improvement the current state of vocational education training, its stipulation and sensitive so that to propose appropriable measures for enhancement Ukrainian SMEs capabilities to contribute in the common weal.
Being “an enterprise” EU would like to have high IRR on the investments both in high education process started in Bologna and vocational education process started in Torino. European enterprise policy pays great attention in boosting entrepreneurship. Support for mentoring of SMEs’ start-up and growth enterprises features in a set of proposals aimed at improving the implementation of the Small Business Act for Europe underlines the increasing importance being given to entrepreneurship for a more competitive European economy [1].
ETF initiatives are directed for the establishment of appropriate environment for business in the ETF partner regions. The proposals of the European Commission foresee mentoring schemes being established in at least ten EU member countries. Mentoring will focus on new ventures, functioning businesses and enterprises with growth potential [2].
Torino process reflects the ETF support for entrepreneurship centers on a number of policy indicators designed to reinforce the potential of economic development in partner countries. The indicators work towards both enterprises and employment policies, development of data to track policy impact, improved networking and more developed training services. The ETF indicators include mentoring which is considered important in the wider support service for entrepreneurs [2]. The ETF will be watching all developments on the EU mentoring initiative with the aim of identifying good practice to be shared with partner country networks.
The enterprise policy review also foresees the establishment of a Social Business Initiative focusing on promoting the social economy as well as a campaign to improve business transfers. The Ukrainian government has also to set up an initiative to create environment encouraging more Ukrainians to start a business or engage in other entrepreneurial activity.
The EU government initiative in Torino process aims for improving quality of both vocational education and higher education training that means increasing the number of success business startups. But Ukraine should take even bolder steps, particularly with regard to cutting red tape and the reform of the insolvency process. Furthermore, commercial success should play a larger role. Business startups are not ends in themselves: they only have a positive effect if they are able to prevail in the marketplace [3] Thus, the main task is to foster a modern, competitive and dynamic economy where it is easier for innovative SMEs to grow and make profits. Successful startups are the best indicator for a dynamic evolvement of entrepreneurial culture and growth welfare in Ukrainian economy.
So, the Torino process aims for improving quality of both vocational education and higher education training that means increasing the number of success business startups. Hence Ukraine should take even bolder steps, particularly with regard to cutting red tape and the reform of the insolvency process. Furthermore, commercial success should play a larger role. Business startups are not ends in themselves: they only have a positive effect if they are able to prevail in the marketplace. Thus, the chief task is to foster a modern, competitive and dynamic economy where it is easier for innovative SMEs to grow and make profits. Successful startups are the best indicator for a dynamic evolvement of entrepreneurial culture and growth welfare of Ukrainian people.

References

1.Think Small First. Small Business Act for Europe. Commission of the European Communities. Brussels, 25.6.2008. COM 92008)394 final.
2. The EU agency which supports education and training in countries surrounding the EU: Female entrepreneurship gets boost in EU enterprise policy review: [Electronic resource]. – Аccess on the site : http://www.etf.europa.eu/web.nsf....cument.
3. Entrepreneurship in Germany: what should we learn from Silicon Valley? [Electronic resource]. – Аccess on the site: http://www.dbresearch.com/servlet.....Start.
class&rwsite=DBR_INTERNET_EN-PROD.