FINANCIAL PROBLEMS OF MICRO, SMALL, MEDIUM AND LARGE COMMERCIAL ENTERPRISES IN LATGALE

Abstract

In the conditions of crisis the government began to stimulate the formation of micro commercial enterprises. As the result the number of micro enterprises in Latgale remained at the pre-crisis level, whereas the number of small, medium and large enterprises decreased. Balanced development of the national economy presumes development of enterprises of all size, which mainly depends on their financial condition. The study aims at investigating the financial condition of micro and small as well as medium and large enterprises to find out the possibilities of their future development taking into account their capacities to raise their own capital and attract capital from outside including bank loans, thus diminishing Latgale’s lagging behind the Latvian average level.