Financial Stability of Car Service Stations in Conditions of Economic Instability

• Author(s): Rais Agaev
• Paper ID: 1709549
• Page: 484-494
• Published Date: 31-03-2023
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 6 Issue 9 March-2023

Abstract

The economic uncertainty creates financial difficulties for small and medium enterprises including car service stations. These businesses operate with limited profit margins while their success depends heavily on customer spending patterns and supply chain disruptions and inflation rates and credit market fluctuations. The research identifies the primary financial challenges faced by car service stations during economic decline and develops strategies to help them achieve long-term recovery. The research analyzes industry data through regional case studies and financial statistics to understand how tourism companies adapt to market changes. The report provides all stakeholders with recommendations to enhance service station economic stability during economic turbulence. The article examines financial practices through easy-to-understand examples and reviews operational strategies for efficient and responsible management under pressure. The research demonstrates that stations can preserve their stability through market diversification and cost management and by integrating technology into their operations.

Keywords

Financial Stability, Economic Instability, Car Service Stations, Small and Medium Enterprises (SMEs), Operational Resilience

Citations

IRE Journals:
Rais Agaev "Financial Stability of Car Service Stations in Conditions of Economic Instability" Iconic Research And Engineering Journals Volume 6 Issue 9 2023 Page 484-494

IEEE:
Rais Agaev "Financial Stability of Car Service Stations in Conditions of Economic Instability" Iconic Research And Engineering Journals, 6(9)