Analysis of the Development of the Financial Mechanism of Activity of Small Enterprises on the Example of the Farm «iryna – O.t.»
Year: 2023
Type: article
Abstract: The article presents the theoretical and practical problems of the financial mechanism for the development of farming on the example of «Iryna – O.T.». It is substantiated that small business has a special role in the socio-economic progress of any country – a potential locomotive of the national economy. Its importance is revealed in a number of economic, investment and social functions. The economic and investment role of small business consists in: mobilization of production factors; saturation of the market with consumer goods and services; stabilization of the market environment; ensuring filling of budgets at all levels; formation and development of a competitive environment, ensuring demonopolization of the economy; implementation of the latest technologies and production of new types of products; conducive to the development of science and scientific and technical progress. In a social sense, small business contributes to employment; satisfying the consumer demand of the population; development of the middle class; acquisition and development of entrepreneurial skills, realization of human abilities. It has been proven that the main goal of a small business entity is to make a profit and satisfy social and personal needs. To achieve this goal, small business entities should direct their activities to the innovativeness of manufactured products (works, services), in particular through: expanding its range, improving technological processes; the ability to recognize and satisfy new consumer needs by introducing innovative ideas and know-how; search for alternative sources of financing and new market niches. In the article, a detailed analysis of the financial mechanism of the development of a small business enterprise of the FG «Iryna – O.T.» is carried out, recommendations are given for the improving its production activity. Proposals for improving the functioning of the company’s financial mechanism were provided.
Authors: Yuliia ALESKEROVA, Lidiіa FEDORYSHYNA
Institution: Vinnytsia National Agrarian University
Language: English
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4389959664