Specifics of economic security of entrepreneurship

Abstract

Entrepreneurship, being the basis of the market economy and developing steadily, contributes to the strengthening of economic stability in the country, to the full satisfaction of the needs of the population. The issues of economic security of entrepreneurship are poorly covered in the economic literature. Many scientists believe that the economic security of production is part of the system of economic security of the state, since without a normally functioning economy it is impossible to ensure the economic security of any type of entrepreneurial activity. Economic security in a broad sense reflects the ability of an enterprise to ensure its sustainable development while minimizing the negative impact of internal and external threats. This is a kind of barrier or protection against threats and losses. The authors have analyzed the economic security of the activities of Borodinskoye LLC in the Belgorod region. The internal and external factors of economic security have been studied in detail in the course of the SWOT analysis, the strengths and weaknesses of the enterprise's activities in the framework of ensuring its economic security have been identified. The proposed measures aimed at minimizing losses, reducing threats and increasing the sustainability of the enterprise. In the authors’ opinion, special attention should be paid to human resources and the development of an effective personnel motivation system. The authors have calculated the possibility of introducing progressive production technology, paying special attention to pricing policy. According to the forecast, revenue by 2022 will increase by 38%, the cost of the main types of products will decrease by 5–25%, profit will increase 2.3 times, and the profitability level will be 25.1%.