The emergence of the COVID-19 pandemic has undoubtedly caused many perturbations, at the same time hindering the functioning and operation of enterprises from various industries, which, due to the often inability to conduct business, found themselves in a very difficult financial situation, with a difficult ability to settle their liabilities. Too high share of receivables that are not settled in a timely manner can result in various problems for enterprises, including, in particular, financial problems that can lead to large-scale bankruptcy. Considering a huge number of connections between individual entities, the bankruptcy of one may pose a risk of a wave of bankruptcy of others. The paper aims to analyze the impact of the COVID-19 pandemic on the payment situation of Polish enterprises. The research was conducted on the basis of an analysis of data on the payment situation of Polish enterprises from selected industries. Basic descriptive statistics was used in the study to characterize the material. The non-parametric Wilcoxon pair order test, which is the equivalent of the Student’s t-test for related variables, was used for the research. The research proved that at enterprises from almost every industry, the value of debts at the end of the second quarter of 2020 was higher than in the first quarter. It can therefore be concluded that the outbreak of the pandemic contributed to an increase in arrears, which, in turn, resulted in an increased risk of doing business. The greater the share of arrears with contractors, the greater the risk of financial problems at the enterprise, and hence the increased risk of bankruptcy.

Modern enterprises run their activities in an innovative environment. The use of modern technologies is, therefore, becoming a prerequisite for maintaining the current market position and ensuring competitiveness with other entities. However, the use of innovative IT solutions creates the risk that certain disturbances in the functioning of computer programs or the occurrence of cyber attacks will bring losses to the company, thus negatively affecting financial results. Materialisation of cyber risk may also have a negative impact on the company's image and, consequently, a potential decrease in sales of goods. Therefore, a proper assessment and management of cyber risk in modern enterprises is important. One of the methods to manage this risk is cyber insurance. A large number of cyber attacks and the development of new technologies has resulted in enterprises using cyber insurance, as evidenced by the significant increase in gross written premium in recent years. The research conducted by various institutions forecasts a dynamic growth of cybernetic insurance premiums in the coming years, suggesting that cyber insurance will grow in popularity. The purpose of the article is to present the necessary conditions and risks for the functioning of innovative enterprises in the current economic environment. In addition, the article analyses the occurrence of individual risks in business operations and their financial effects. The research also presents a scale in the use of cyber security in managing cybernetic risk of enterprises and provides future development directions of cyber security products. The research utilised methods of analysis and synthesis of secondary data in formulating conditions.

The concept of state financial security is a key one, due to the fact that it reflects the state of the country, its public finances, as well as the state of the financial sector operating within it. An adequate level of state financial security can create optimal conditions for the development of the financial system, financial stability, as well as for the country's economic development and investment attractiveness. One of the main factors that determine a high level of state financial security is the stability of the financial sector. Given that the assets of the banking sector account for a significant, if not an overwhelming share of the total assets of the financial sector, this sector plays a key role in the economy as a whole. Therefore, a stable and secure banking sector is an important element affecting the level of financial security of a country. The paper attempts to define the concept of state financial security and to present its relevance. In addition, the paper also aimed to identify the main factors that most influence the level of state financial security. Eight indicators, generally accepted as those describing the level of state financial security, were applied in the paper and used as the basis for an econometric model expressing the relationship between them and the stable development of the banking sector. The study showed that the stability of the Polish banking sector determined the financial security of the state.