THE ROLE OF FINANCIAL PLANNING IN THE DEVELOPMENT OF SMALL ENTERPRISES
Journal Title: Держава та регіони. Серія: Економіка та підприємництво - Year 2018, Vol 6, Issue 105
Abstract
One of the main factors in the formation of the middle class is the development of small business, which guarantees the stability of the economy and raising the standard of living of citizens. As a result of opening up their own business and self-employment, the level of unemployment is reduced and, at the same time, the level of incomes increases, which contributes to the growth of aggregate demand and the increase of production. In a market economy, entrepreneurs cannot achieve a stable success if they do not clearly and effectively plan their activities, constantly collect and accumulate information about the status of target markets, the position of competitors, and their own prospects and opportunities. Despite significant advantages, there are a number of problems associated with the organization of financial planning at small enterprises. In Ukraine, in order to address the shortcomings and improve the activities of small businesses, it is worth improving and detailing the regulatory framework in the field of internal financial planning and providing incentives for active innovative development of small enterprises as a driving factor for intensive business development.
Authors and Affiliations
L. S. Ladonko, O. H. Mital
Keywords
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- EP ID EP503091
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