Grigor'eva E.E.Scientific-Research Institute of Regional Economy of North, North-Eastern Federal University (NEFU), Yakutsk, Sakha Republic, Russian Federation elena.grigoreva80@mail.ru
Ivanov I.E.Mining, Jewelry and Diamond-Cutting Department of Ministry of Industry of Sakha Republic (Yakutia), Yakutsk, Sakha Republic, Russian Federation minprom8@mail.ru
Importance Diamond-cutting and jewelry enterprises are part of the Diamonds Factory of Yakutia, which generates a significant share of the region's industrial production. Their development and financial status have a direct impact on the Republic's socio-economic development. The susceptibility of industries to shocks in the global economy entails a financial instability of the enterprises. Objectives The objectives are to identify the problems related to financial support to diamond-cutting and jewelry enterprises and to analyze their financial and economic indicators. Methods We used methods to reconcile statistical data, and calculated financial indicators, i.e. a net profit ratio and receivables to payables ratio. Results The analysis of production and sale of diamonds and jewelry shows that after crisis recovery there are soaring sales of jewelry and diamonds. The increasing overall production of jewelry makes Yakut manufacturers expand in-house sales networks, however, only in the local market. The main problem of diamond-cutting and jewelry businesses continues to be the lack of working capital to buy costly feedstock (raw diamonds and precious metals). Conclusions and Relevance Under unstable economy, a State unitary enterprise is the most viable form of incorporation to raise funds to purchase expensive rough diamonds.
Pototskaya T.I. [Development trends in regional diamond markets of the world]. Rossiiskii rynok dragotsennykh metallov i dragotsennykh kamnei: sostoyanie i perspektivy: mater. 6-ya Mezhdunar. delovaya konferentsiya [Proc. 6th Int. Business Conference The Russian Market of Precious Metals and Precious Stones: Status and Prospects]. Moscow, ASMI RDMK Publ., 2003, pp. 115–125.
Balabanov I.T. Dragotsennye metally i dragotsennye kamni: operatsii na rossiiskom rynke [Precious metals and precious stones: operations in the Russian market]. Moscow, Finansy i statistika Publ., 2006, 198 p.
Nikolaev M.V., Ivanov I.E., Grigor'eva E.E. Vliyanie uslovii proizvodstva produktsii yuvelirnykh i almazogranil'nykh predpriyatii Respubliki Sakha (Yakutiya) na strukturu sebestoimosti [The influence of production factors of jewelry and diamond-cutting enterprises of the Republic of Sakha (Yakutia) on the cost structure]. Problemy sovremennoi ekonomiki = Problems of Modern Economics, 2014, no. 4, pp. 283–286.
Nikolaev M.V., Ivanov I.E., Grigor'eva E.E. Vliyanie NDS na razvitie almazogranil'noi i yuvelirnoi promyshlennosti [The effect of VAT on the development of diamond-cutting and jewelry industry]. Aktual'nye problemy gumanitarnykh i estestvennykh nauk = Topical Issues of Humanities and Sciences, 2013, no. 11-1, pp. 252–255.
Gulyaev P.V., Nikolaev M.V., Popova T.N. Metodika otsenki vliyaniya ekonomiki gornodobyvayushchei kompanii na byudzhet regiona resursnogo tipa (na primere AK “ALROSA”) [The methodology for assessing the influence of the mining company’s economy on the budget of a resource-type region (the ALROSA case)]. Gornyi zhurnal = Mining Journal, 2015, no. 3, pp. 46–51.
Tarasov M.E., Egorov N.E., Alekseeva K.I., Tarasova-Sivtseva O.M., Danilov Yu.G. Konkurentsiya i konkurentosposobnost' khozyaistvuyushchikh sub"ektov v otraslyakh ekonomiki [Competition and competitiveness of businesses in the sectors of economy]. St. Petersburg, Saint-Petersburg State University of Economics Publ., 2014, 362 p.
Kurneva M.V. Predposylki sozdaniya almazno-brilliantovogo klastera v Respublike Sakha (Yakutiya) [Preconditions for a diamond cluster creation in the Republic of Sakha (Yakutia)]. Problemy sovremennoi ekonomiki = Problems of Modern Economics, 2014, no. 4, pp. 279–282.
Kovalev A.I., Privalov V.P. Analiz finansovogo sostoyaniya predpriyatiya [Analyzing the financial condition of an enterprise]. Moscow, Tsentr ekonomiki i marketinga Publ., 2000, 202 p.
Ermolovich L.L. Analiz khozyaistvennoi deyatel'nosti predpriyatiya [Аn analysis of economic activities of the enterprise]. Minsk, Interpresservis: ekoperspektiva Publ., 2007, 576 p.
Kreinina M.N. Finansovoe sostoyanie predpriyatiya. Metody otsenki [Financial condition of the enterprise: methods of evaluation]. Moscow, DIS Publ., 2002, 224 p.
Azoev G.L. Konkurentsiya: analiz, strategiya, praktika [Competition: analysis, strategy, practice]. Moscow, Tsentr ekonomiki i marketinga Publ., 1998, 239 p.
Babentsova E.I. Sbytovaya deyatel'nost' i diversifikatsiya proizvodstva [Sales activities and production diversification]. APK: ekonomika, upravleniya = AIC: Economy, Management, 2003, no. 8, pp. 39–41.
