Сrisis Management in Small Business

Abstract

© 2019, Research Trend. All rights reserved. This paper discusses the issues of improving the financial literacy of crisis managers. In a market economy, small and medium-sized enterprises are faced with constant changes that can lead enterprises to liquidation. Companies use crisis management to solve immediate problems in a crisis period. The formation of the financial literacy of a crisis manager will contribute to the growth of the effectiveness of its activities. The relevance of the topic of crisis management in small business is due to the presence of problems with profit-making by small entrepreneurs due to the opening of large store chains, even in small towns. Our state needs to take into account all segments of the population, those who can buy products in large chain stores, as well as those who can only come to a store that is nearby and buy the most necessary things for the near future. That is why small business should exist along with big business and also successfully extract the maximum profit from its activities. The purpose of this work is to study the development of crisis management in small businesses, in particular, its application in practice in Russia.