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Financial Condition of Small Enterprises in Ukraine: Problems, Tendencies, Prospects
Yasinovska I. F., Loiek Y. D.

Yasinovska, Iryna F., and Loiek, Yaryna D. (2022) “Financial Condition of Small Enterprises in Ukraine: Problems, Tendencies, Prospects.” Business Inform 8:95–101.
https://doi.org/10.32983/2222-4459-2022-8-95-101

Section: Problems of Business

UDC 658.14

Abstract:
The purpose of the article is to generalize the essential content of the concept of "financial condition ofenterprise" in terms of its constituent components; analyze the main indicators of the financial condition of small enterprises of Ukraine, determine the major tendencies during 2017–2020; substantiate the importance of analyzing their financial condition; draw attention to the relevant problems of small business in modern conditions. The article analyzes the current financial condition of small enterprises of Ukraine for the period 2017–2020. Analyzing, systematizing and summarizing the scientific works of scholars, the approaches to defining the concept of "financial condition" of the enterprise were considered. As a result of the research, the financial condition of small enterprises of Ukraine was analyzed and assessed; the main problems of their activity are highlighted. It is substantiated that the validity of managerial decisions directly depends on the objectivity and timeliness of information about the financial condition of the enterprise. The effective operation of enterprises requires constant control over the receipt and use of financial resources, strict adherence to the disciplineof financial settlements, formation of the optimal ratio between own and borrowed funds, ensuring financial sustainability and solvency.A thorough and timely carried out analysis of the financial condition of the enterprise allowsto see the objective state of its activities, identify problematic aspects, respond to challenges in a timely manner, anticipate and minimize business risks and make the right managerial decisions.

Keywords: financial condition, small enterprise, enterprise property, sources of property formation, solvency, financial sustainability.

Fig.: 4. Tabl.: 2. Bibl.: 8.

Yasinovska Iryna F. – Candidate of Sciences (Economics), Associate Professor, Associate Professor, Department of Financial Management, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79001, Ukraine)
Email: [email protected]
Loiek Yaryna D. – Masters Student, Faculty of Finance and Business Management, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79001, Ukraine)
Email: [email protected]

List of references in article

Demianenko, M. Ya., Luzan, Yu. Ya., and Sabluk, P. T. Finansovyi slovnyk-dovidnyk [Financial Dictionary-reference]. Kyiv, 2003.
Derzhavna sluzhba statystyky Ukrainy. http://www.ukrstat.gov.ua/
Prykhodko, N. I. “Poniattia finansovoho stanu pidpryiemstva: deiaki aspekty yoho vyznachennia“ [The Concept of the Financial State of the Enterprise: Some Aspects of Its Definition]. Fizicheskaya inzheneriya poverkhnosti. 2010. http://dspace.nbuv.gov.ua/bitstream/handle/123456789/98878/13-Prikhodko.pdf?sequence=1
Tomchuk, O. F. “Analitychni mozhlyvosti balansu (zvitu pro finansovyi stan) pidpryiemstva“ [Analytical Capabilities of the Enterprise Balance Sheet (Statement of Financial Position)]. Prychornomorski ekonomichni studii. 2018. http://bses.in.ua/journals/2018/28_2_2018/33.pdf
Poddieryohin, A. M. et al. Finansy pidpryiemstv [Enterprise Finance]. Kyiv, 2013.
Sharova, S. V., and Cherkasova, O. S. “Finansovyi stan pidpryiemstva ta shliakhy yoho vdoskonalennia“ [Financial Condition of the Enterprise and Ways of Its Improvement]. Ekonomichnyi visnyk Zaporizkoi derzhavnoi inzhenernoi akademii. 2018. http://e-visnyk.dniprondise.in.ua/journals/5-17-2018/31.pdf
Yasinovska, I. F. “Otsinka finansovoho stanu pidpryiemstv rehionu“ [The Assessment of Financial Condition of Region's Enterprises]. Rehionalna ekonomika. 2016. https://financial.lnu.edu.ua/wp-content/uploads/2015/10/18.pdf
Yatsukh, O. O., and Zakharova, N. Yu. “Finansovyi stan pidpryiemstva ta metodyka yoho otsinky“ [Financial State of the Enterprise and Method of Its Evaluation]. Vcheni zapysky Tavriiskoho natsionalnoho universytetu imeni V. I. Vernadskoho. Seriia «Ekonomika i upravlinnia». 2018. http://econ.vernadskyjournals.in.ua/journals/2018/29_68_3/35.pdf

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