ENTERPRISE RISK MANAGEMENT

The article presents theoretical and practical problems of financial risk management in Ukraine. It is substantiated that small business plays an important role in the socio-economic progress of any country – a potential locomotive of the national economy. Its importance is revealed in a number of economic, investment and social functions. In a social sense, small business contributes to employment; satisfying the consumer demand of the population; development of the middle class; acquisition and development of entrepreneurial skills, realization of human abilities. It has been proven that the application of a complex approach allows predicting individual effects of the enterprise's macroeconomic activity to avoid risks with the use of longitudinal (spatial, panel) data models. The obtained results have practical value for manufacturers and exporters in the management of financial risks. The study also provides recommendations to managers and stakeholders regarding financial risk management mechanisms that can contribute to increasing the efficiency of enterprises and states. The level of external financial risk has been established, which indicates an effective financial risk management policy, which leads to an improvement in the company's financial condition.