INNOVATIVE ME TIVE METHODS FOR ASSESSING THE FIN THODS FOR ASSESSING THE FINANCIAL CONDITION IN FAMILY ENTERPRISES

Abstract

Introduction. The article analyzes the ways of identifying family businesses and some indicators reflecting their financial condition. Indicators of the financial stability of the family business, the autonomy ratio, the financial stability ratio, methods of determining the personal capital ratios according to clear formulas and tables are shown. Research methods. The family business is liable for its obligations with all of its property, which can be recovered in accordance with the law. We conducted a comparative analysis of the financial indicators of a family business using the example of the family company "Comfort Textile" and the family business "Logistic Mobile" and highlighted the following indicators when assessing the level of financial stability of enterprises. Results and discussions. Objectively, there are only two ways to increase profitability: reducing costs and increasing turnover. Among the internal factors of increasing profitability is, first of all, the level of labor productivity. This directly affects not only the price, but also the rate of capital turnover. In the above example, an increase in profitability means more than 100 percent, which means not only a doubling of the rate of return, but also a doubling of the turnover period. Conclusion. We used SWOT analysis and PEST analysis in innovative analysis of enterprise activities. Businesses are conventionally divided into two factors, which are influenced by many factors: • Microenvironment: buyers, suppliers, competitors, lenders; • Macro environment: activities of the state, natural phenomena, the state of society. PEST analysis is a simple way to combine all the macro factors that affect the performance of an organization in a system. This method can be used alone for long-term planning or in combination with SWOT analysis. The deliverables then form the basis of threats and opportunities in the SWOT table. Reasons for the analysis: • have a clear understanding of market conditions, opportunities, threats; • Determination of the business development strategy; • Selection of the method of competition; • Management of risks PEST analysis is an abbreviation for four groups of factors: P - political; E - economical; S - sociocultural; T - technological. PEST analysis (political, economic, social and technological) is a management method that evaluates key external factors that influence the performance of an organization in order to be more competitive in this market. As described in the acronym, these four areas are central to this model.