The purpose of the article is to study the reasons for the termination of entrepreneurial activity, as well as the accumulated experience of entrepreneurs leaving their business. Research on the principles and concepts of business termination became widespread in the late twentieth and early twenty-first century. At first, only Western European and American scientists were interested in this problem. Since 2005, the geography of researchers has expanded significantly. Our analysis is based on the consideration of monographs, articles in peer-reviewed scientific journals, published working papers and research reports. The article presents the characteristics of the main reasons and ways of entrepreneurs out of business. Author proposes their classification and systematization. The results of the study can be used in scientific research of entrepreneurship. They can be used in the educational activities of higher educational institutions. The results are of interest to existing entrepreneurs, helping them to properly build business exit programs.

Institutions keep on rising in their role in the process of regulating the conflicts, that are attributes to market-type economic systems. The analysis of recent papers demonstrates an active shift towards institutional models that are able to explain the vector of transformations; reformation is related to changes in institutional environment via modeling the parameters of different agents" behavior. The article searches into the evolution of institutions as a reflection for socioeconomic space components change. The emphasis is made on sophistication of spatial organization and strengthening of its network-based character, as well as the necessity of institutions modernization and creation of "new age" institutions in order to make the environment match the society requirements and demands. The research of known institutions typologies allowed to determine that sophistication of economic activities leads to meta-institutions creation. Development of the latter can be facilitated by cloud technologies that offer aggregated data storage and processing separately from any structural unit.

The article deals with the specific features of functioning and evolution mechanisms of institutional traps as objects of state intervention during the institutional reforms, thus deals with the following hypothesis: there exists a uniform country-specific pattern of institutional traps emergence during economic modernization. Without management of institutions it is not possible to provide realization of an optimal scenario of state development. The spread of positive institutional practices and successful experience of institutional reforms may be considered as a tool of social state development. However, there are situations when newly created institutions fail the task but instead of dying seek to implement old practices, transforming into institutional traps, i.e. stable self-sustainable norms dissonant with aims of social development. Institutional traps, entailing the experience of economic agents' sustainable interaction, derive not only negative effects, but also are considered by the science to be sustainable samples for modelling in order to increase the efficiency of particular institutional interaction areas. The emergence of institutional traps in a certain field of activity has several associated effects: the existence of inefficient institutions can lead to a multiplicative effect and generate "institutions for their own sake", and also to form a supporting infrastructure. Thus, a specific servicing subsystem appears; imposing greater restrictions in an inefficient institution leads to a greater degree of strengthening the servicing subsystem, contributing to the expansion of the informal or shadow sectors. The present sophistication of economic activities causes modification of institutional traps and their management basics. This brings the authors to explore not only the essential aspects of institutional traps, but also the specifics of their transformation. It was discovered that the substantial role in eliminating those traps is prescribed to control mechanisms that appear to be the complex of instrumentally mediated stimulating or restrictive reactions (and diagnostics tools for them as well) to deviation of an institute from pre-assigned behaviour patterns.