FORMATION OF AN EFFECTIVE FINANCIAL SUPPORT SYSTEM FOR THE DEVELOPMENT OF BOOK INDUSTRY ENTERPRISES IN THE CONTEXT OF A TRANSFORMATIONAL ECONOMY
Abstract
The article examines the peculiarities of forming an effective system of financial support for book industry enterprises in the context of Ukraine’s transformational economy. The current state of financing for publishing houses and book-trading organizations is analyzed, and the main problems and barriers to their financial development are identified. It is determined that under martial law, digital transformation, globalization processes, and rapidly changing consumer preferences, book industry enterprises require fundamentally new approaches to the formation and management of financial resources. Classical and innovative sources of financing for the book business are examined in detail, including enterprises’ own funds, bank lending, state support for the cultural sector, international donor funding, crowdfunding platforms, private and venture investments, grant programs, and alternative financial instruments. A critical analysis of the advantages and disadvantages of each funding source is conducted, taking into account the specific features of the book industry. The necessity of diversifying funding sources and implementing a comprehensive, systematic approach to financial resource management in book enterprises is substantiated. A conceptual model of an effective financial support system is proposed, reflecting the peculiarities of the book industry, the risks of the transformation period, the opportunities of the digital economy, and the cultural-educational mission of publishing activities. Practical recommendations have been developed to optimize the capital structure of book enterprises, strengthen their financial stability and solvency, attract alternative sources of funding, effectively use state support mechanisms for cultural industries, and adapt to the challenges of wartime conditions. Particular attention is paid to mechanisms of financial support for small and medium-sized publishers that contribute to the cultural diversity of the national book market. The article identifies the prospects for developing the financial support system of book industry enterprises in the context of Ukraine’s European integration, globalization of the book market, the growth of electronic and audiobook publishing, and the emergence of new business models in the publishing sector.
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