The domestic enterprises operate in a context of intense competitive pressure and the powerful influence of external factors. This study considers the effectiveness of financial and economic activities of an industrial enterprise on the example of one of the largest enterprises in the Ural region of Russia, PJCS "Uralasbest". We assess the efficiency of the enterprise in order to identify problems that have a significant impact on the activity of the economic entity and determine the prospects for its development. PJSC "Uralasbest" is a city-forming enterprise, specializing in the production of chrysotile asbestos, the consumers of which are various industries in the Russian Federation and abroad. In our analytical research we define both external and internal factors, influencing the effectiveness of the enterprise. The authors identified the most significant factors: sanctions, the state of the global and domestic economy, the general decline in production, the non-payment crisis, the influence of Western politicians on the domestic economy (the market in Ukraine is closed), and the anti-asbestos campaign, etc. As a consequence, there is a decline in production and a shortage of production capacity. In the current situation, a prospective way of maintaining the efficient operation of industrial enterprises is to actively explore the domestic market.