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Home / Issues / № 2, 2013

Materials of the conference "EDUCATION AND SCIENCE WITHOUT BORDERS"

CURRENT STATE OF SMALL ENTERPRISES OF FISHERY INDUSTRY IN PRIMORSKY KRAI
Titova N.Y.

Fishery industry (hereinafter - FI) is the basis of the economy of Primorsky Krai. It is presented with a number of small, medium and large enterprises, which operate in the extraction, processing and marketing of fishery resources. The Administration of Primorsky Krai has developed a set of measures to modernize and improve the economic performance of FI. The State Program "Development of fishery industry of Primorsky Krai in 2013-2017" was approved in December 2012. One of its main goals is to establish a fishery cluster. Proceeding from the above, the problems of business organizations in FI are the most relevant.

Table 1.

Key financial and economic indicators of small businesses in the FI of Primorsky Krai in 2005-2011.

Indicator

Unit

2005

2006

2007

2008

2009

2010

2011

The number of small enterprises in the FI

units

269

268

245

271

189

183

173

The volume of output

million rubles

1340,0

1476,0

1436,9

1845,0

1493,1

1716,3

1462,6

Investments in fixed assets

million rubles

16,1

10

5,4

4,2

21,3

140,5

9,9

Gross Regional Product

million rubles

14604

13978

15157

17505

19672

20899

22203

The net financial result

million rubles

-190,0

-72,0

-86,8

-127,6

-175,0

399,0

178,0

Profitability

%

-4,7

-8,6

-1,8

-3,3

11,2

15,8

12,2

Profitability of assets

%

-5,4

-2,7

-3,9

-6,7

-6,2

10,6

5,5

Autonomy ratio

%

15,3

-18,0

-28,9

-53,8

-37,9

-15,0

-9,3

Based on the table, small businesses represent a significant share of all the enterprises of FI in Primorsky Krai. Thus, in 2011 the overall structure of business entities of FI share of small enterprises was 31.5%. The number of small fishery businesses has been steadily declining. At the end of 2011 their number amounted to 173 units, which is 96 less than in 2005. After the 2008 crisis, there were "afloat" only less than half of the companies. The recession was affected by the lack of coherent government policy on investment of enterprises. The growth of investment in fixed assets in 2010 - 2011 can be attributed to the improvement in the financial situation of small businesses and its improving profitability. However, in 2011 there is a decrease of this index by 38.5% below the baseline in 2005. The factors influencing the change of investment in fixed assets are the lack of own financial resources, the uncertainty of the economic situation in the country and high interest rates on loans.

The level of the gross regional product has a positive dynamic. Steady growth rate has been observed from 2007 to 2011 in the base and the chain calculation. The growth of investment in fixed assets has kept a similar impact on the dynamics of production.

Analysis of the production performance of the investigated statistical population shows their irregular growth. According to the table by the end of 2011, the volume of products produced by small businesses decreased with a comparison to the previous year, which level was 253.7 million. In 2009, it was also a decline of 19%. However, the calculation of the base rate of growth compared to 2005 reflects a small positive trend. Although on a much smaller number of enterprises in 2011, their growth was 9.15%.

According to the financial indicators of small businesses of the FI the net financial result of the organizations totaled 178 million rubles, which is 44.8% less than in 2010. The same goes for other profitability ratios, return on assets and autonomy, which reached their maximum values only in 2010. Autonomy ratio from year to year shows a negative value, which characterizes the company as a highly depended on financial loans and have low financial stability.

Thus, the implemented analysis of financial and economic activities of small businesses of the FI has revealed a number of specific features. Despite the growth of major economic indicators, which was observed since 2007, the FI of the Primosky Krai still has some problems:

1) the undeveloped state of the investment strategy to support small, medium and large enterprises of the FI;

2) a high proportion of loss-making enterprises and low financial performance;

3) the raw material orientation of export of fish products;

4) the high proportion of physical and moral deterioration of the fishing and the fishing fleet;

5) The disintegration of the industry enterprises.

One of the most appropriate ways to solve these problems, which are worsening economic condition of small businesses, is to help the implementation of fisheries cluster in the Primorsky Krai. This measure will increase the competitiveness of products. In addition, the interaction of small businesses within the territorial branch of the cluster will work out the problem of their financial recovery.



Bibliographic reference

Titova N.Y. CURRENT STATE OF SMALL ENTERPRISES OF FISHERY INDUSTRY IN PRIMORSKY KRAI. International Journal Of Applied And Fundamental Research. – 2013. – № 2 –
URL: www.science-sd.com/455-24149 (18.04.2024).