| SMEs Inovation and Growth in EU | Inoviranje i rast MSP u EU |
| Management, [pdf] | Menadžment, [pdf] |
| ID: 7.2012.64.10 Number: 64 Year: 2012 UDC: 005.591.61 ; 005.52:330.322(4-672EU) [tmx] [bow] |
Elena Veselinova
Institution: Faculty of Economics, Goce Delcev University, Stip, Macedonia | Elena Veselinova
Institucija: Ekonomski fakultet Univerziteta Goce Delčev u Štipu, Makedonija |
Marija Gogova Samonikov
Institution: Faculty of Economics, Goce Delcev University, Stip, Macedonia | Marija Gogova Samonikov
Institucija: Ekonomski fakultet Univerziteta Goce Delčev u Štipu, Makedonija |
Abstract
The focus of this paper is the analysis of the most important factors for SMEs’ performance, survival and growth
in EU. The main objective is to consider what determines the potential failure of young companies to innovate
and grow.The importance for new, young and thus often still small firms to introduce innovations and grow is
commonly claimed. Therefore, factors that would inhibit these small, young companies to achieve their goals
can have a huge public impact.The research results show that the age of the firm (which reflects its reputation)
is important to the degree to which the firm feels financially constrained. Also, finance barriers can be associated
with the market failure. Risk and informational asymmetries create capital market imperfections and
a firm’s lack of reputation and collateral become crucial elements. Conclusions reveal that the ability of SMEs
to grow depends highly on their potential to invest in restructuring, innovation and qualification. All of these
investments require capital and therefore access to finance. Recent policy initiatives aim at improving the financial
environment for European entrepreneurial activity and, more specifically, at supporting newly-founded innovative firms in order to increase their global competitiveness and spur | Apstrakt
Tema ovog rada je analiza najznačajnijih faktora koji utiču na rezultate, opstanak i rast MSP u EU. Glavni cilj jeste da se stekne uvid u to šta predodređuje potencijalni neuspeh mladih kompanija da uvode inovacije i da rastu. Postoji opšta saglasnost o tome da je za nove, mlade i stoga često još uvek male firme značajno da uvode inovacije i da se razvijaju. Stoga faktori koji ometaju ove male, mlade kompanije mogu da imaju ogroman uticaj u javnosti. Rezultati istraživanja pokazuju da je starost firme (što odražava i njen ugled) značajna do onog ste-pena do kojeg se firma oseća finansijski ograničenom. Finansijska ograničenja takođe mogu da budu u vezi sa neuspehom na tržištu. Rizik i informaciona asimetrija izazivaju određene nepravilnosti na tržištu kapitala i nedostatak ugleda i garancija firme mogu da postanu ključni elementi neuspeha. U zaključcima se pokazuje da sposobnost MSP da rastu u ve I ikoj meri zavisi od njihovih mogućnosti da investiraju u restruktuiranje, inovacije i kvalifikacije. Za sve ove investicije potreban je kapital i shodno tome pristup finansijama. Najnovije mere imaju za cilj da poprave finansijsko okruženje za evropsko preduzetništvo i, još preciznije, da pruže podršku novo-for-miranim inovativnim firmama kako bi one povećale svoju globalnu konkurentnost i podstakle inovacije.
|
| Keywords: SMEs, financing, innovation, growth. | Ključne reči: MSP finansiranje, inovacije, rast. |
| Pages: 87-94 | Strane: 87-94 |