Problems of business entity financial security provision in conditions of economic crisis

Abstract

The support for the stable functioning of business entities with focus on their further development is impossible without an effective system of financial security, because any time there is a danger of implementing a variety of risks that can lead to the onset of the crisis. It should be noted that the implementation of measures to ensure financial security is most effective when they are applied long before the crisis - it makes business entities able to recognize early trends of crises and have time for preparedness. In the case when it comes to the global economic crisis, which cannot be prevented, timely measures to ensure financial security can minimize its negative effects, and if the crisis is expected at the level of the enterprise, it will be able to avoid it altogether. The study clarified the theoretical basis of ensuring the business entity financial security - namely, the definition of "financial security" and a list of its tasks, functions and principles. The existing problem of providing financial security are researched. A qualitative and quantitative methods for assessing the financial condition of a business entity are showed. The research has established that the main problems of ensuring the financial security of business entity need to be addressed at the state level, but the early assessment of external and internal environment of economic units significantly reduces the risk of certain threats and thus increases financial security of business entities. The showed methods of assessing the financial situation can be used in practice of national business entities.