EST IMATING VALUE OF BUSINESS IN THE PROCESS OF CONSULTING COMPANY’S STRATEGY DEVELOPMENT

Importance of developing companies' competitive strategies, which would contain several scenarios for the company's development to achieve the goal of maintaining a stable position of the company among competitors, market value of business is an important indicator of the efficiency. This indicator allows to determine the effectiveness of different scenarios, but requires from the person, who make the strategy, to have special knowledge and compliance with the requirements of special international and national standards. In particular, in the paper it is found that there are different definitions of the “business” in terms of its value, different approaches to valuation and valuation base, which should be consistent with the valuation purpose and the scope of valuation. So, each approach to evaluation requires certain information and can be applied only to a certain group of companies or a certain stage of the business life cycle. Using the methods of analysis and synthesis, the paper summarizes the requirements of international standards and national standards of Ukraine for business evaluation. The main approach of business valuation was chosen as the income approach, which is using the method of discounting cash flows. At the same time, due to the lack of statistical information in open sources of information, on the example of small and medium-sized consulting companies, the cumulative approach was identified as the most accessible for use. However, due to the fact that the main problem of this approach is the high level of subjectivity, it was proposed to increase the objectivity of the results obtained using the cumulative approach by applying formulas, which are proposed as the result of investigation. The proposed formulas allow to use information obtained as a result of calculations and published in the public Internet sites. At the same time, the possibility of calculating the size of risk premiums for companies in other sectors of the economy can be explored in further research in the case of existing relevant statistical data.