FEATURES OF FINANCIAL MANAGEMENT OF ENTREPRENEURSHIP ENTITIES
Journal: International scientific journal "Internauka." Series: "Economic Sciences" (Vol.1, No. 74)Publication Date: 2023-06-30
Authors : Rudachenko Olha; Fursa Viktoriia; Korobtsova Daria;
Page : 132-138
Keywords : finance; management; GDP; entrepreneurship entities; crisis situations;
Abstract
The article proves that the financial system plays an important role in ensuring the socio-economic development of any country. The structure of the financial system of Ukraine, which includes centralized, decentralized finance and financial infrastructure that provides management, control and disposal of finance, is studied. The main functions of the financial system are formed and include: formation and development of the financial market; effective redistribution of financial resources between unevenly developing territories; stimulation of foreign economic activity of the State and entrepreneurship entities representing it; activation of production processes and GDP formation in the State, etc. It is substantiated that the main source forming the basis of financial resources is the gross domestic product of a country, which is considered to be the most useful indicator for economists and investors. The analysis of GDP in the study showed that already in 2022, compared to 2021, there was a significant drop in GDP by UAH 268,546 million, which led to the formation of a new crisis situation caused by the invasion of Russia. Decentralized finances, which are based on the finances of entrepreneurship entities and the finances of the population, are distinguished. It is proved that insufficient attention has been paid to the management of decentralized finances in wartime, where most entrepreneurship entities operate in crisis conditions. Based on a systematic analysis, the author examines the activities of entrepreneurship entities and identifies the main obstacles to doing business in Ukraine during wartime. It is the entrepreneurship entities, including small and micro businesses, which have suffered the most. It is emphasized that, given the crisis conditions in which business operates, entrepreneurship entities suffer enormous losses, as they did during the Russian invasion of Donetsk, Luhansk regions and the Autonomous Republic of Crimea in 2014. Such trends have a negative impact on the financial system of Ukraine in general. It is proved that the government leadership should develop and implement measures in advance to strengthen the stability of the financial system of Ukraine, support and develop small and micro-business, which will ensure stable socio-economic development of the country in the post-war and post-war periods.
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