Economic security of small businesses

the purpose of the study: based on the consideration of theoretical aspects of economic security and the application of a risk-based approach, to determine an algorithm for implementing management impacts for small businesses to mitigate and neutralize identified risks. Methods: the methods used were methods of concretization, analysis of scientific scrutinizing, and deduction. Findings: The study presents an algorithm for the process of implementing management impacts to ensure the economic security of small businesses. It is proposed to implement certain actions step by step on the basis of a risk-based approach to neutralize risks and threats to economic security. Based on the results of regular diagnostics of risks and threats to security, identifying the causes of deviations from established indicators, specific recommendations for their neutralization and strategies for increasing the level of economic security of the subject should be developed and implemented. At the same time, special attention should be paid to the use of modern information technologies and software products. Conclusions: the proposed algorithm will make it possible to improve the management of the entity by streamlining managerial influences with the delineation of employee responsibilities and the definition of their responsibilities. An operational regular assessment of security risks carried out within the framework of this algorithm, identifying the causes of deviations from established indicators of economic security, followed by the identification and implementation of options for responding to identified risks will not only strengthen the economic security of small businesses, but also assess their development prospects.

economic security, content, financial component, management impacts, process algorithm