Financial security of Ukrainian enterprises: current status, main problems and ways to solve them

Pavlov, Kostiantyn
Pavlova, Olena
Kryzhanivsky, Stanislav
Savchuk, Anna

Lesya Ukrainka Volyn National University, 13 Volya Ave., Lutsk, 43025, Ukraine

Pavlov, K., Pavlova, O., Kryzhanivsky, S. & Savchuk, A. (2022) Financial security of Ukrainian enterprises: current status, main problems and ways to solve them. Socio- Economic Problems and the State (electronic journal), Vol. 26, no. 1, pp. 3-11. URL: http://sepd.tntu.edu.ua/images/stories/pdf/2022/22pkvtst.pdf

dec-2021

21-jul-2022

https://orcid.org/0000- 0003-2583-9593
https://orcid.org/0000- 0002-8696-5641

https://doi.org/10.33108/sepd2022.01.003

330.131.7:658.15

D81
H56

financial security of the enterprise
financial and economic security
financial crisis
business entity
external and internal threats / risks
post-crisis restoration of enterprise security

9

3-11

3

11

The existence of an effective financial and economic security system, which will provide the protection of the enterprise from the threats is one of the most important aspect of sustainable business growth providing and formation of positive results of its financial activities in modern conditions of the economic processes imbalance. The protection is conditioned by the ability of the enterprise authorities: to provide sustainable business growth of the enterprise, to neutralize the negative impact of the crisis economy, to form an adequate accounting system of financial flows, to strengthen operating effectiveness of the control system, to provide the protection of the trade secret information confidentiality on appropriate levels. Modern scientific researches indicate there is impossible to find exit from crisis, to stabilize the economic situation, to create an effective mechanism of doing business without unified system of business financial and economic security. The search of the main ways of business acceleration with minimal expenses for forming of effective system of enterprises functioning aimed at maximization of profits and harmonization of relations between business stakeholders is very relevance in the conditions of post-crisis reconstruction. It should be taken into account the fact that production and economic systems, regardless of the form of ownership, are characterized by the presence of constant risk and threats associated with the dynamics of the external and internal environment of their functioning. The financial and economic security of a business depends on the state of the country's monetary security. It should also be noted that at present the financial security of Ukraine is under threat, since all components of ensuring financial and economic security are in danger. The problems of their own economic security arise before each type of business, not only in times of crisis, but also when working in a stable economic environment, the set of targets to be solved in this case has a significant difference. The instability of the economic and political situation in the modern world creates great tensions and serious problems to ensure the financial security of enterprises, which is associated with solving economic and legal problems, as well as protecting economic interests and property rights of economic entities - physical and legal persons. The financial security of the enterprise, as the main economic entity of the modern economy, occupies an important place among the indicators of financial security at other levels, as the security of the enterprise is the basis of both economic security in general and financial security in particular. Financial security plays a significant role in the management of the enterprise, helps protect its financial and economic interests from negative internal and external threats, protects the financial interests of business owners, controls the financial resources of the company, able to withstand existing and emerging risks that cause financial damage change the structure of equity.

The authors received no direct funding for this research.

http://elartu.tntu.edu.ua/handle/lib/38569

2223-3822

Socio-Economic Problems and the State

http://sepd.tntu.edu.ua/images/stories/pdf/2022/22pkvtst.pdf
http://esnuir.eenu.edu.ua/handle/123456789/15852
https://doi.org/10.7441/joc.2019.03.06
https://doi.org/10.1007/978-3-030-51981-0_38
http://www.growingscience.com/dsl/online/dsl_2020_22.pdf

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Article

Scientific Journal "Socio-Economic Problems and the State", Vol.26, No.1