Economic Security of Entrepreneurship: Specifics of Management in the Context of Financial Instability

Valery Alferov, Oleg Shakhov, Valeryevna Vashalomidze, Elen Reznik, Anna Yurieva Economic Security of Entrepreneurship: Specifics of Management in the Context of Financial Instability

International Journal of Recent Technology and Engineering (IJRTE)

ISSN: 2277–3878, Volume-8 Issue-3, September 2019

Valery Nikolaevich Alferov, Oleg Fedorovich Shakhov, Elena Anatolievna Reznik, Elena Valeryevna Vashalomidze, Anna Anatolyevna Yurieva

Manuscript published on 30 September 2019

* Correspondence Author

Valery Nikolaevich Alferov*, Financial University under the Government of the Russian Federation (Financial University), Moscow, Russian Federation

Oleg Fedorovich Shakhov, Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow, Russian Federation

Elena Anatolievna Reznik, Russian Presidential Academy of National Economy and Public Administration (RANEPA), Moscow, Russian Federation

Elena Valeryevna Vashalomidze, Research Institute of Labor and Social Insurance, Moscow, Russian Federation

Anna Anatolyevna Yurieva, Market Economy Institute of RAS (MEI RAS), 47, Nakhimovsky Prospect, Moscow, Russian Federation

Abstract: The efficient development of the national economy largely depends on the level of support for its economic security (ES) because an independent external and internal policy that meets national interests can be pursued only in this context.

The purpose of the study is to analyze the features of managing the ES of a business entity in the context of financial instability (FI).

The relevance of solving the problem of ES for entrepreneurship as a factor of the state's ES is revealed in the article; various theoretical approaches to understanding the essence of ES for entrepreneurship, as well as FI of a business entity as a threat to ES for entrepreneurship are analyzed.

Expert opinions on priority models for assessing the financial condition of a business entity are generalized on the basis of an expert survey, and international experience in preventing bankruptcy of business entities is analyzed to compass the purpose.

Index Terms: bankruptcy, econometric model, economic security, entrepreneurship, financial instability.

I. INTRODUCTION

Shaping a favorable, transparent, and predictable legal and economic framework for citizens to realize their right to business is an integral component of the proper socioeconomic development of the state, a primary function of state bodies in the market economy, which is required for securing the well-being of citizens and the formation of a civilized competitive environment. As such, it is advisable to discuss the relationships among the support for free entrepreneurship, favorable economic and legal environment for business, socioeconomic growth of the state, and formation of a security system for the national economy [1].