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FINANCIAL SITUATION OF MICRO, SMALL AND MEDIUM-SIZED ENTERPRISES IN THE LATVIAN FISHERY SECTOR
Abstract
Environmental pollution, adverse spawning conditions, as well as intensive fishing and other factors have negative influence on fish stock condition, thereby causing fishery enterprises problems to plan their activities in long term. This causes significant consequences not only for the Latvian fishery sector in general, but also for the development of coastal areas and national socio-economic growth. In the modern global economy, competitiveness is put forward as one of the conditions for economic recovery. The competitiveness of Latvian fishery sector is largely determined by its financial stability. The aim of the research is to evaluate the financial situation of micro, small and medium-sized enterprises (SMEs) in the Latvian fishery sector, simultaneously providing recommendations for improvement of the financial stability. Using the possibilities offered by financial analysis as well as considering availability of data and their quality, the author carried out the corresponding evaluation. The results of the research include evaluation of liquidity, solvency, efficiency and profitability of micro, small and medium-sized enterprises. Moreover, the research reflects the skills of enterprises to form capital structure and distribute financial means, and provides an insight into the need of structural reforms. The information reflected in the research can help the institutions, entrepreneurs and researchers involved in establishment and implementation of fisheries policy to better understand and improve the common policy of the whole sector.
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References9
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