Features and possibilities of small and medium enterprises development in modern economies
The importance and development opportunities of small and medium enterprises have changed over time depending on technological innovations, volatile market conditions, growing living standards and changes in consumer habits and requirements. The emergence of global demand, which is easily accessed t...
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| Format: | Article |
| Language: | Bosnian |
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Univerzitet u Novom Pazaru
2021-01-01
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| Series: | Univerzitetska Misao |
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| Online Access: | https://scindeks-clanci.ceon.rs/data/pdf/1451-3870/2021/1451-38702120190L.pdf |
| Summary: | The importance and development opportunities of small and medium enterprises have changed over time depending on technological innovations, volatile market conditions, growing living standards and changes in consumer habits and requirements. The emergence of global demand, which is easily accessed through new information technology platforms, has enabled small and medium-sized enterprises to dramatically expand their markets and business practices. Small and medium enterprises (SMEs) promote private property and entrepreneurial skills. They are a driving force of development, not only in developed market driven economies countries, but also in developing countries, and especially so in countries that have progressed in the transition towards a real market driven economy. If developed, the SMEs enable increase of the gross national product and the number of economic entities, creation of new jobs, growth of the population income, higher living standards, substitution of imports and greater domestic economy export competitiveness, better market functioning, etc. Although it is difficult to predict the development prospects of small and medium enterprises due to the number and complexity of factors affecting their running and development, current trends allow one to assume that in the future small and medium enterprises will also play a significant role in modern economy functioning and development. |
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| ISSN: | 1451-3870 2560-4821 |