Financial risks of Ukrainian enterprises: Analysis, management, and ways to minimise them in conditions of economic instability

The study aimed to identify the main financial risks for Ukrainian enterprises caused by economic instability. The research methodology included an analysis of secondary data for 2022-2024, in particular, statistical indicators of inflation, exchange rates and unemployment rates. The main results of the study revealed significant trends that have a substantial impact on the financial stability of enterprises in Ukraine. In 2022, inflation reached 26.6%, which significantly increased costs for enterprises. In 2023, inflation fell to 5.1%, but rising exchange rates and interest rates remained a major challenge for businesses. At the end of 2024, inflation rose again to 10.7%, causing further increases in product prices and reducing consumer purchasing power. Currency fluctuations had a particularly high impact on businesses, notably the 34.1% devaluation of the hryvnia in 2022, which created significant difficulties for export-oriented businesses. In addition, it was found that enterprises that used diversification strategies and financial derivatives were able to reduce the negative impact of currency risks. Furthermore, the study identified that currency hedging can reduce exchange rate fluctuations by 15-20% compared to other strategies. The findings of the study indicate that enterprises that use a comprehensive approach to financial risk management, in particular through hedging, diversification and effective use of state support, can maintain financial stability even in times of crisis. The practical significance of the study is determined by the development of effective recommendations for managing financial risks of enterprises in conditions of economic instability, which ensures their financial stability and adaptation to changes in the macroeconomic environment