PROBLEMS OF FINANCIAL PLANNING IN SMALL ENTERPRISES

Abstract

Small businesses are actively involved in the development of the economy of each state. A distinctive feature of small enterprises is their exposure to various risks, which in the context of increasing competition requires the use of modern methods and tools for financial management. This becomes possible only when planning all types of financial resources, financial flows, processes and various financial relationships. Financial planning is extremely important for small businesses, as it is part of a risk reduction strategy that is developed to give confidence in a positive financial result of activities in an uncertain business situation. The financial plan allows small businesses to outline the contours of their future financial and economic activities in the available indicators, evaluate opportunities and ways to implement them to maximize profits. Starting your own business is only the initial stage of entrepreneurial activity, it is much more difficult to maintain and increase the business, turning it into a mature, successfully developing company. To do this, it is necessary that the desired result be organized with the help of effective financial planning. The article examines the state of small business in the context of the structure of profitable and unprofitable enterprises, the theoretical foundations and characteristic features of the implementation of the financial planning process in small enterprises. The problems of financial planning at small enterprises in Russia are systematized, their causes are revealed and possible ways of solving problems are proposed. Solving the problems of financial planning will allow small businesses to achieve the relationship of financial planning methods with their main goals, to increase the efficiency of functioning. High-quality management of financial resources with the help of planning is able to ensure sustainable growth and development of small businesses.