providing state guarantees and their execution in case of the occurrence of guarantee cases to specially established organizations with the state participation. Such organizations consider applications submitted by business entities with their business plans, select enterprises by the criteria of importance for the development of the state economy and the likelihood of the enterprise survival, provide state guarantees to selected business entities, and, most importantly, monitor the targeted use of funds that the company received from the creditor.

According to the experts, state subsidies is one of the important ways to prevent bankruptcy of business entities. As for the structure of subsidies, experts indicate that about 45 % of the total amount are allocated for the development, organization, and expansion of production of individual business entities, 17 % — for the replenishment of the working capital, 12 % — for the acquisition of fixed assets and technical re-equipment, 5.5 % — for the creation of jobs and the payment of wages to relieve social tension, and only 0.4 % — for scientific research. According to the experts, it is also common practice at the local level to support individual business entities in the form of establishing preferential rent for the use of premises, land, and other material resources.

The experts point out that cross-subsidization or indirect subsidizing of producers is a form of state subsidies, when some sectors of the economy are supported in order to encourage the activities of other sectors. This type of subsidies can be used because there are certain limitations of direct subsidizing of industries or enterprises in a crisis situation or in need. For example, the state stimulates the development of the engineering industry by providing subsidies to processing enterprises for the renewal of fixed assets — in particular, machinery and equipment.

At the same time, the experts believe that cross-subsidization has some advantages from the standpoint of the competitive development of the state's economy. In particular, direct subsidization reduces competition and does not stimulate innovation-driven growth. Direct subsidization is also often carried out on the basis of lobbying for corporate interests, without taking the real financial and economic performance of business entities into account. On the contrary, the consumer or supplier can choose partners in cross-subsidization and thereby stimulate a growth in the level of competition and innovation-driven growth.

V. CONCLUSION

Lack of attention to the problems of the ES for entrepreneurial activity, even with high profitability, may make a business entity extremely vulnerable to various types of risks, which may entail its bankruptcy in the future. However, business growth causes a significant dependence on external sources of funding, which may entail a gradual loss of independence in making managerial decisions and affect its financial stability.

Crisis situations in the operation of business entities occur due to miscalculations in financial management, in allocation of resources and efforts to use them, and in plans. In other words, potentially profitable enterprises can go bankrupt only because they are unable to determine the onset of a crisis on time and have no clear plan of action in the event of crisis situations.

The key task for each business entity, both in the short, medium, and long term, is to achieve a certain steady state that would secure the development of the business entity, as well as balance among the main components of its activities.

The results of the study indicate that it is necessary to timely diagnose the financial condition of the company and the nature and depth of financial problems, which must necessarily include a diagnosis of the financial condition of the company and the likelihood of bankruptcy.

It is impossible to form the very essence of the strategy of financial recovery for a business entity and determine the composition and sequence of measures for its implementation without determining the causes of financial unrest. Deep understanding of the sources of the existing problems allows to clearly understand the nature of a specific crisis phenomenon and outline possible steps to overcome it.

In general, it must be noted that the foreign practice has many ways to prevent the bankruptcy of business entities. However, the strategic groups and primarily the state and the enterprise owners must be interested in the successful implementation of all the approaches discussed above. There is a need for a detailed study of the bankruptcy prevention methods and the development of practical tools for their improvement, as well as the formation of new approaches to the development of bankruptcy prevention systems in enterprises, taking into account the domestic specifics of conducting business and national economic and legal conditions.

REFERENCES

1. G. G. Lyannoy, “Bezopasnost predprinimatelskoy deyatelnosti kak neotyemlemyy element bezopasnosti gosudarstva [Entrepreneurial security as an integral element of state security],” Law and enforcement practice, vol. 3, 2016, pp. 39–45.

2. O. A. Dubrovina, “Neobkhodimost i printsipy obespecheniya ekonomicheskoy bezopasnosti predpriyatiya [Need and principles of ensuring the economic security of the enterprise],” Scientific almanac, vol. 3–1(29), 2017, pp. 68–71.

3. T. Shkarina, O. Chudnova, and O. Mokhova, “Comparative study on economic security of enterprises depending on implemented business activities quantity,” SHS Web of Conferences, vol. 35, 2017, pp. 61–75.

4. S. G. Simonov, A. G. Durtseva, and M. M. Makhmudova, Obespecheniye bezopasnosti predprinimatelskoy deyatelnosti [Securing entrepreneurial activities]. Tyumen: TSOGU, 2012.

5. S. E. Lelyukhin, A. M. Korotchenkov, and U. V. Danilova, Ekonomicheskaya bezopasnost v predprinimatelskoy deyatelnosti [Economic security in entrepreneurial activities]. Moscow: Prospect, 2016.

6. Yu. A. Burtsev, “Ekonomicheskaya bezopasnost malogo predprinimatelstva v Rossii [Economic security of small businesses in Russia],” Management: laboratory of modern practices, vol. 1, 2016, pp. 89–93.

7. A. V. Rodionov, and A. A. Krut. (2018). Ekonomicheskaya bezopasnost razvitiya predprinimatelskoy deyatelnosti v kontekste obespecheniya rosta tempov importozameshcheniya [Economic security of business development in the context of ensuring the growth rate of import substitution]. Herald of Eurasian science [Online]. Vol. 5. Available: https://esj.today/PDF/93ECVN518.pdf

8. V. V. Akberdina, A. V. Grebenkin, and O. P. Smirnova, “Kompleksnyy instrumentariy otsenki ekonomicheskoy bezopasnosti otrasley ekonomiki: regionalnyy aspect [Complex toolkit for assessing the economic security of economic sectors: regional aspect],” Regional economy, vol. 13(4), 2017, pp. 1264–1279.

9. M. N. Dudin, M. N. Prokofev, I. J. Fedorova, and A. V. Frygin, “The World Experience of Transformation of Innovative Approaches to Assurance of Financial Stability of Social