The article describes the current state of Ukraine's banking system in the context of the ongoing armed conflict, which has significantly affected the macroeconomic environment and the functioning of the country's financial sector. The author focuses on the profound transformations that took place in the structure of the banking system in 2021-2024, in particular, the reduction in the number of solvent banks, the growing role of state-owned financial institutions, and the decline in the share of banks with foreign capital. The author analyzes the dynamics of changes in the ownership structure of banks due to both the withdrawal of weak players from the market and the implementation of the state support policy for critical sectors of the economy. The paper analyzes changes in the structure of banking sector assets, in particular, a decrease in the share of lending to the real sector and households against the background of growing investments in government securities and deposit certificates of the National Bank of Ukraine. This transformation indicates a reorientation of the banking system to support liquidity and finance the state's budgetary needs, which is a response to the increased risks and uncertainty of wartime. The article highlights a set of anti-crisis measures implemented by the National Bank of Ukraine in 2022-2024, including liquidity support, temporary currency restrictions, enhanced monitoring of the financial condition of banks, and the development of macroprudential regulation. The author emphasizes the role of the state in ensuring financial stability, protecting the interests of depositors, and maintaining the functionality of the payment system in extreme conditions. A number of key problems threatening the stability of the banking system have been identified: an increase in the share of non-performing assets, concentration of credit risks, restrictions on financing the real sector. The article emphasizes the adaptability of the banking sector, the gradual increase in the deposit base, the introduction of digital technologies and the improvement of risk management systems. It is noted that the further development of the banking system of Ukraine should be based on strategic guidelines that take into account the need to support economic recovery, increase financial stability, expand access to financial services and strengthen confidence in banking institutions in the post-war period. 

banking system of Ukraine, financial stability, armed conflict, anti-crisis policy, strategic guidelines 

The article substantiates that financial and credit instruments are an effective means of overcoming the capital deficit, providing accelerated financing of the construction of critically needed infrastructure facilities, which contributes to improving access to public services, creates conditions for the economic activity of enterprises and contributes to solving a wide range of problems with local self-government bodies face. The authors single out financial and credit instruments for financing local economic development, in particular: bond loans, bank loans, loans from international financial organizations, local guarantees, a revolving fund and crowdfunding. It was determined that the main areas of socio-economic development of regions and cities, which are financed with funds from municipal bond loans, are education, transport, communal economy, environmental protection, social security, industrial development, construction of highways, bridges, tourist infrastructure and facilities sphere of services. Particular attention was paid to lending, in particular the “Affordable 5-7-9” program, which allowed business entities to obtain the necessary financial resources for existence, because such programs contribute to the creation of jobs and increased tax revenues; however, their effectiveness depends on the availability of sufficient financial resources at the local level and access to them by entrepreneurs. The research analyzed the segment of commercial banks that were actively involved in lending to business entities in terms of providing loans to cover working capital needs, which is important for maintaining the company’s liquidity. The proposed measures are aimed at increasing the efficiency of financial management at the local level and ensuring sustainable development through the attraction of credit resources. The directions of attracting financial resources from foreign countries, banks and international financial organizations for the implementation of investment projects, in particular by the International Bank for Reconstruction and Development, the European Bank for Reconstruction and Development, the German Credit Institution for Reconstruction and the European Investment Bank, were analyzed, and it was determined that the funds of such organizations are financed investment, innovation, infrastructure and other support, restoration and development projects that are of strategic importance and contribute to access to long-term financing and increase the stability of the energy system. It is substantiated that the revolving fund is an innovative mechanism that feeds the economy of the region, and the importance of crowdfunding in financing local economic development is also investigated, as it allows attracting financial resources from a large number of people who support various projects and initiatives. 

bond loans, bank loans, local guarantees, revolving fund, crowdfunding 

Achieving economic stability is one of the main challenges facing businesses in today’s unstable financial and political environment. The coordinated development and creation of a reliable and promising business climate are among the top priorities for Ukraine’s economy, which would ensure the continued functioning of business entities in the future. The article aims to analyze the economic stability of enterprises in the context of modern challenges, namely during martial law in Ukraine, and outline the main directions for strengthening the security of enterprises. The basic essence of the term “economic stability of an enterprise” is revealed, taking into account the interpretation of this concept in the scientific works of economists. The article analyzes the economic stability of enterprises in the context of modern challenges, namely, during martial law in Ukraine. It emphasizes that in addition to profitability, the economic stability of an enterprise depends on many factors that are formed as a result of financial stability and economic and financial resilience. The full-scale invasion of our country by the Russian aggressor has made adjustments to the economic stability of enterprises. The authors analyze the main problems that prevent businesses from recovering and developing during the war and point out certain conditions to which enterprises are adapting. The positive aspects on the basis of which the economic activity of enterprises is gradually recovering in certain industries are outlined. The results of the analytical report of the United Nations Development Programme in Ukraine are analyzed, and the directions for strengthening the security of enterprises in the context of modern challenges are offered. 

economic stability of an enterprise, financial stability, economic resilience, financial resilience, profitability, economic security, security strengthening directions 

The development of small businesses is an important area of creating a competitive market environment in Ukraine. Today it is quite obvious that the success of market transformations will largely depend on how the small business potential as the dynamic and mobile sector of the economy is realized, the existence of a well-balanced system of state-legal measures, and their internal monitoring. After conducting internal monitoring of small businesses, the following main conclusions were made: first, the companies have qualified proactive staff willing to work and able to perform tasks despite the complexity of work, high labor intensity and workload, and second, respondents believe that without a proper level of cooperation between themselves, between managers and subordinates, and with public authorities, it is impossible to achieve high results. This monitoring made it possible to characterize the internal state of activity of enterprises provided by their employees and is the first step towards the implementation of the concept of “change management” in the process of entrepreneurship development. On the one hand, it is a collection of information, on the other hand - a tool of “feedback” between management and subordinates and with public authorities at all levels, which enables the monitoring of the dynamics of the indicators across specific issues. An integrated approach to the process of enterprise development based on the concept of “change management” will increase the effectiveness of positive change in enterprises, remove most of them from the shadow sector, create more jobs, as well as increase the overall well-being of citizens and the state as a whole by increasing its GDP. The article thoroughly describes and demonstrates the factors restraining small business development during 2021-2022. 

change management, small enterprise, internal monitoring, external environment, competitiveness