Economic security of enterprises in the face of modern challenges: pragmatics and vectors of strengthening

Abstract

The study reveals that since the beginning of the COVID-19 pandemic, many domestic enterprises have yet to be ready for operational changes. This was the first impulse that led to the closure of several businesses that could not adapt to the new challenges of today. The outbreak of hostilities in early 2022 posed an even more significant threat to the economic security of enterprises and their ability to function. After all, almost all enterprises in the eastern, southern, and northern parts suffered not only financial but also material losses. The article aims to determine the impact of modern challenges on the economic security of enterprises and substantiate the primary vectors for strengthening the safety of their activities. The article emphasizes that most enterprises face the problem of economic security in the current economic environment. The report analyzes theoretical studies of the essence of the financial security of enterprises. It defines it as a combination of economic relations that arise to ensure stability and sustainability of the interests of the enterprise with the interests of the environment. The existence of internal and external factors that influence the economic security of the enterprise is revealed. The novelty of this study lies in the systematization and characterization of the stages of the Ukrainian government's support for entrepreneurial activity in the context of a full-scale war, with the identification of the main areas aimed at stabilizing entrepreneurial activity and strengthening its economic security. The article establishes that in the context of digital economy development, the transition from conventional to digital activities is a priority component of the economic security of an enterprise. This allows the company to overcome the most challenging period of its activity. The article also emphasizes that the elements of digitalization are the modern vectors of development that would enable most small and medium-sized enterprises to function in the market and thus strengthen their economic security. Investment and innovation measures are proven to be the most relevant for enhancing the economic security of the enterprise. Keywords: economic security, СОVІD-19 pandemic, war, digitalization, investment, innovation.