Ways to Ensure Sustainable Development of Enterprises by Increasing the Credit Resources Efficiency
Zhytar M. O., Yaroshchuk T. Y.

Zhytar, Maksym O., and Yaroshchuk, Tetiana Yu. (2020) “Ways to Ensure Sustainable Development of Enterprises by Increasing the Credit Resources Efficiency.” The Problems of Economy 4:312–319.
https://doi.org/10.32983/2222-0712-2020-4-312-319

Section: Finance and banking

UDC 338.76

Abstract:
The article aims at analyzing the current situation with the sustainable development of an enterprise, which is reached by increasing the credit resources efficiency. The correlation between sustainable development of an enterprise and its creditworthiness has been proved. The level of the Global Competitiveness Index of Ukrainian enterprises in the world economy has been studied. The line of business analyses of the current industrial environment has been carried out, thus sketching the general situation in Ukraine. Features hindering the sustainable development of business have been analyzed. Research has been provided as for the ratings of the most popular banks for business. The main advantages and disadvantages of loans to business persons have been suggested taking into account the average interest rates on such loans. It has been found out that the main factor for obtaining loans by business persons is their financial standing. Therefore, if a business person or company can repay their loans and interest on existing liabilities on time in full, this fact becomes a favorable and important factor for creditors. It has been found out that current loan rates are too high and thus become too expensive for many companies to attract additional funds for their business, the reason being the non-repayment of loans to banks. It is concluded that one of the central problems Ukraine is now facing is the mismanagement of sustainable development of enterprises, and problems in using credit resources suggested by banks are among the main factors here. It is determined that Ukrainian enterprises have all the chances to become the main carrier of technical progress and a source of growth of national competitiveness, but in order for it to start approaching the development level of the world's leading countries, significant financial resources are required. It has been proved that attention should mainly be focused on developing and improving strategic directions of sustainable development management related to attracting credit resources, namely suggesting the rules for and implementing the process of selecting and providing further state support for the best possible investment projects, which could improve the sustainable development of entrepreneurship and increase the efficiency of using credit resources in long-term business projects.

Keywords: added value, credit resources, enterprise competitiveness, entrepreneurship, global level of competitiveness, industry, sustainable development

Fig.: 8. Tabl.: 1. Bibl.: 11.

Zhytar Maksym O. – Candidate of Sciences (Economics), Associate Professor, Deputy Director, Educational and Research Institute of Finance, Banking of the University of State Fiscal Service of Ukraine (Bldg B, 31 Universytetska Str., Irpіn, Kyiv region, 08201, Ukraine)
Email: zhytarmaksym@gmail.com
Yaroshchuk Tetiana Yu. – Student, Department of Finance named after L. L. Tarangul, Educational and Research Institute of Finance, Banking of the University of State Fiscal Service of Ukraine (Bldg B, 31 Universytetska Str., Irpіn, Kyiv region, 08201, Ukraine)
Email: tannushka900@gmail.com

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