Improving Payment Practices for External Economic Activities of Small Business Entities

Ensuring the timely receipt of export proceeds and the timely execution of import payments by small businesses depends directly on the improvement of payment practices related to their foreign economic activities. In particular, documentary letters of credit issued by commercial banks for import payments enable small businesses to receive export proceeds in a timely manner. The article analyzes the current state of payment practices in foreign economic activities and proposes ways to improve these practices.