The Priorities and Tools for Strengthening the Financial Security of the Small Business Sector in the Conditions of Instability.
Voznyak H. V., Shopska Y. K.

Voznyak, Halyna V., and Shopska, Yulia K. (2024) “The Priorities and Tools for Strengthening the Financial Security of the Small Business Sector in the Conditions of Instability..” The Problems of Economy 1:96–101.
https://doi.org/10.32983/2222-0712-2024-1-96-101

Section: Finance and banking

UDC 338.2:658.14

Abstract:
The article updates the issues of ensuring financial security and stability of the entities of the small business sector in Ukraine in the conditions of critically acute instability caused by the consequences of the ongoing full-scale war. The purpose of the study is to substantiate the priorities and tools for strengthening the financial security of the small business sector of Ukraine in conditions of instability. The goal of the State policy of strengthening the financial security of the small business sector of Ukraine in the conditions of wartime and instability should be the systematic improvement of the business environment of entrepreneurial activity in the context of minimizing financial challenges and threats, improving the financial and resource provision and the financial and economic condition of small business entities, ensuring the development and capitalization of this sector of the economy. New challenges and threats to the financial security of small business entities of Ukraine in the conditions of wartime have been identified, namely, a decrease in the solvent demand of the population, a narrowing of the capacity of domestic demand for consumer goods and services and a reduction in income, an increase in the cost of resources, an increase in the cost price and a decrease in the level of economic profitability, difficulties with logistics and transportation of goods, etc. It has been proven that the achievement of this goal will be facilitated by the implementation of a system of strategic priorities, namely: improving the financial and credit support of small businesses; formation of a system of investment support for development projects of small business entities; expansion of monetary and lending opportunities; de-shadowing of the capital of small business entities and restructuring of their debt obligations; small business effectivization through the growth of the sector of innovative and technologically active entrepreneurship; implementing the potential of the insurance sector in mitigating the financial risks of small business entities.

Keywords: small business sector, small business, financial security, financial resilience, financial stability, regulatory tools, financial challenges, risks and threats, full-scale war, crisis, instability.

Fig.: 1. Bibl.: 10.

Voznyak Halyna V. – Doctor of Sciences (Economics), Senior Research Fellow, Professor, Department of Economics and Public Administration, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79000, Ukraine)
Email: gvoznyak@gmail.com
Shopska Yulia K. – Applicant, Department of Economics and Public Administration, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79000, Ukraine)
Email: shop555_aspi@ukr.net

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