CONCEPTUAL MODEL OF FINANCIAL PLANNING OF SMALL ENTERPRISES
Abstract
The complexity of the modern operating conditions of domestic enterprises, caused by unprecedented external challenges (the COVID-19 pandemic, a prolonged state of war in the country) and imperfect internal processes, require operational solutions and the use of special management tools, in particular, the implementation and use of a financial planning system. The purpose of the study was to investigate the features, build and substantiate the conceptual model of the financial planning of small enterprises. The research was carried out according to the general methodological scheme of the system approach, in particular, in order to justify the need to apply financial planning by small business entities, the methods of abstraction, induction, deduction were applied, and with the help of the toolkit of the IDEF0 functional modeling methodology, a conceptual model of financial planning of the activity of a small enterprise was formed. In the process of research, the need for financial planning for the successful functioning and development of small enterprises is substantiated. The key problems of organizing financial planning for small business entities are indicated. A context diagram of the conceptual model of financial planning of a small enterprise has been developed, where its basic elements are highlighted: input resources (financial resources, production and sales volumes, analytical data on incoming and outgoing cash flows), control and regulatory elements (legislation, regulatory requirements, development strategy enterprises, conditions of current commercial contracts), participants of the model (employees of the financial and economic department of the enterprise, commercial partners, financial institutions) and the result is the creation of a reliable basis for the sustainable development of the enterprise. A decomposition diagram of the conceptual model has been created, which reflects the procedure for implementing financial planning of small businesses in 5 consecutive stages: 1) strategic positioning; 2) internal diagnosis of the enterprise; 3) diagnosis of external challenges; 4) development of the current financial plan; 5) systematic control. The adaptability of the proposed model to the operating conditions of small business enterprises with different operational characteristics has been proven.
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