RISKS MANAGEMENT IN SMALL AND MEDIUM-SIZED ENTERPRISES

Vitalii Valeriiovych Lavruk, Svitlana Ivanivna Plotnytska () and Hanna Volodymyrivna Zaporozhets
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Svitlana Ivanivna Plotnytska: O.M. Beketov National University of Urban Economy at Kharkiv - Partenaires INRAE

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Abstract: Urgency of the research. SMEs has a significant role in the economic development of most countries of the world and have become engine of economic growth. In Ukraine SMEs account for more than 99% of the total number of enterprises in Ukraine but its share in GDP of the national economy is only 15%. Therefore, the SMEs growth is one of the most challenging problem for Ukraine. Target setting. It is estimated that only half of SMEs are well doing after the first two years' operation period. The main cause is high risks in the small business sector. So the improvement of SMEs risk management system is one of the most challenging issue for Ukraine. Actual scientific researches and issues analysis. SMEs development has been investigated broadly. The impact of risk on SMEs is tried to evaluate by Hudáková, M., Buganová, K., Dvorský, J., Shuying, Z., Mei, Z. and others. Uninvestigated parts of general matters defining. Issues of the SMEs risks management in the context of globali-zation in emerging economies continues to be actively explored. However, despite the rigorous contribution to this area the problem is not resolved completely. The research objective. This research paper aims to discuss the problems of risk management for SMEs. The statement of basic materials. We identified the crucial risks for SMEs, namely financial risks. In our investigation we based on a dataset obtained via questionnaire surveys in Kharkiv region of Ukraine. The theoretical basis for the application of methods and tools for managing financial risks are substantiated on the law of downward impact. A new approach to SMEs financial risks managing are developed. Conclusions. As a result of the research a new approach to SMEs financial risks managing has been developed that should be taken into account in order to adjust the SMEs development strategy taking into account the level of financial risk and improve the SMEs performance indicators.

Date: 2018
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Published in SCIENTIFIC BULLETIN OF POLISSIA, 2018, 4(16), pp.72-79. ⟨10.25140/2410-9576-2018-4(16)-72-79⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-03978915

DOI: 10.25140/2410-9576-2018-4(16)-72-79

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