Organization of Small and Medium Enterprises in the Republic of Northern Macedonia

Ilaz Ameti; Naser Ameti; Xhelal Luma; Jerina Vukaj Nazaj

doi:doi:10.11648/j.ijfbr.20220802.14

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Organization of Small and Medium Enterprises in the Republic of Northern Macedonia

Ilaz Ameti, Naser Ameti, Xhelal Luma, Jerina Vukaj Nazaj

Published in International Journal of Finance and Banking Research (Volume 8, Issue 2)

Received: 12 March 2022 Accepted: 7 April 2022 Published: 14 April 2022

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Abstract

Small and medium enterprises (SMEs) have a very important economic and social role, due to their contribution to the functioning of the economic network and job creation. These contributions are very valuable in the conditions of crisis and rising unemployment. Especially in the Republic of Northern Macedonia, the development of SMEs can affect the many challenges related to economic development, the effects of inequality, high unemployment and demographic growth. In addition, the development of the SME sector can contribute to strengthening competitiveness and productivity, while increasing Gross domestic product (GDP) and per capita income growth. This development will also promote the structural transformation of the SME sector, due to its connection with innovation and technological development. The study aims to identify and analyze the main structuring that affect the success and growth of small and medium enterprises (SMEs), ie their performance, as well as to analyze the effects that these indicators have on the economic growth of SMEs. In this research are addressed some important issues and general problems of the financing system, the financial situation of small and medium businesses in northern Macedonia. Also, this paper will present, both from a theoretical and practical point of view, the relationship between these key performance indicators, or in other words, SME growth. Therefore, the development of the SME sector is very important in Macedonia, especially considering that social problems are largely the consequence of unequal economic growth.

Published in	International Journal of Finance and Banking Research (Volume 8, Issue 2)
DOI	10.11648/j.ijfbr.20220802.14
Page(s)	73-77
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2022. Published by Science Publishing Group

Keywords

Economic Role of SMEs, Increased Competitiveness, Contribution of SMEs, Economic Development

References

[1]	Binks, M. & Coyne, J. (1983). The Birth of Enterprise, Hobart Paper 98. London: Institute of Economic Affairs.
[2]	Berger, A. N. and Udell, G. F. (1998) The Economics of Small Business Finance: The Roles of Private Equity and Debt Markets in the Financial Growth Cycle. Journal of Banking and Finance.
[3]	Drucker P. F.(1985) Innovation and Enterpreneurship, Harper and Row Publishers, New York,
[4]	European Commission, (2005) The Neë SME definition, User Guide and Model Declaration,
[5]	Tongue, 2001, Part 1.
[6]	HM Treasury (2008). Available at: https://www.gov.uk/government/ uploads/system/ uploads/attachment _data/file/243389/7408.pdf
[7]	Michael P Nicholas Wilson, (1996) Working Capital and Financial Management Practices in the Small Firm Sector.
[8]	Madsing, D. (1997). NCC presentation on the information technology initiative, Manchester Metropolitan University, 1999.
[9]	Official Gazette of the Republic of Macedonia "number 123/2012.
[10]	Ou, C., & Haynes, G. W. (2006). Acquisition of Additional Equity Capital by Small Firms – Findings from the National Survey of Small Business Finances. Small Business Economics, 27 (2), 157-168. http://dx.doi.org/10.1007/s11187-006-0009-8
[11]	Robert A. Blackburn David Smallbone (2008) Researching Small Firms and Entrepreneurship in the U.K.: Developments and Distinctiveness.
[12]	Rrahimi N. (2008)“ Small Business Management ” Tetovo.
[13]	State Statistical Office Republic of North Macedonia.
[14]	Storey, D. J. (1994). Understanding the small business sector. London: International Thomson Business Press.
[15]	Günter Verheugen, Member of the European Commission, Responsible for Enterprise and Industry Brussels, 19th February 2009.
[16]	The Advanteges of SMEs, http://www.unicycle4kids.org/business-tips/the-advantagesof-smes.php (accessed 20.01.2015)
[17]	Vera, D. and Onji, K. (2010) Changes in the Banking System and Small Business Lending. Small Business Economics, 34, 293-308. https://doi.org/10.1007/s11187-008-9119-

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APA Style

Ilaz Ameti, Naser Ameti, Xhelal Luma, Jerina Vukaj Nazaj. (2022). Organization of Small and Medium Enterprises in the Republic of Northern Macedonia. International Journal of Finance and Banking Research, 8(2), 73-77. https://doi.org/10.11648/j.ijfbr.20220802.14

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ACS Style

Ilaz Ameti; Naser Ameti; Xhelal Luma; Jerina Vukaj Nazaj. Organization of Small and Medium Enterprises in the Republic of Northern Macedonia. Int. J. Finance Bank. Res. 2022, 8(2), 73-77. doi: 10.11648/j.ijfbr.20220802.14

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AMA Style

Ilaz Ameti, Naser Ameti, Xhelal Luma, Jerina Vukaj Nazaj. Organization of Small and Medium Enterprises in the Republic of Northern Macedonia. Int J Finance Bank Res. 2022;8(2):73-77. doi: 10.11648/j.ijfbr.20220802.14

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@article{10.11648/j.ijfbr.20220802.14,
  author = {Ilaz Ameti and Naser Ameti and Xhelal Luma and Jerina Vukaj Nazaj},
  title = {Organization of Small and Medium Enterprises in the Republic of Northern Macedonia},
  journal = {International Journal of Finance and Banking Research},
  volume = {8},
  number = {2},
  pages = {73-77},
  doi = {10.11648/j.ijfbr.20220802.14},
  url = {https://doi.org/10.11648/j.ijfbr.20220802.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijfbr.20220802.14},
  abstract = {Small and medium enterprises (SMEs) have a very important economic and social role, due to their contribution to the functioning of the economic network and job creation. These contributions are very valuable in the conditions of crisis and rising unemployment. Especially in the Republic of Northern Macedonia, the development of SMEs can affect the many challenges related to economic development, the effects of inequality, high unemployment and demographic growth. In addition, the development of the SME sector can contribute to strengthening competitiveness and productivity, while increasing Gross domestic product (GDP) and per capita income growth. This development will also promote the structural transformation of the SME sector, due to its connection with innovation and technological development. The study aims to identify and analyze the main structuring that affect the success and growth of small and medium enterprises (SMEs), ie their performance, as well as to analyze the effects that these indicators have on the economic growth of SMEs. In this research are addressed some important issues and general problems of the financing system, the financial situation of small and medium businesses in northern Macedonia. Also, this paper will present, both from a theoretical and practical point of view, the relationship between these key performance indicators, or in other words, SME growth. Therefore, the development of the SME sector is very important in Macedonia, especially considering that social problems are largely the consequence of unequal economic growth.},
 year = {2022}
}

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TY  - JOUR
T1  - Organization of Small and Medium Enterprises in the Republic of Northern Macedonia
AU  - Ilaz Ameti
AU  - Naser Ameti
AU  - Xhelal Luma
AU  - Jerina Vukaj Nazaj
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DO  - 10.11648/j.ijfbr.20220802.14
T2  - International Journal of Finance and Banking Research
JF  - International Journal of Finance and Banking Research
JO  - International Journal of Finance and Banking Research
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PB  - Science Publishing Group
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UR  - https://doi.org/10.11648/j.ijfbr.20220802.14
AB  - Small and medium enterprises (SMEs) have a very important economic and social role, due to their contribution to the functioning of the economic network and job creation. These contributions are very valuable in the conditions of crisis and rising unemployment. Especially in the Republic of Northern Macedonia, the development of SMEs can affect the many challenges related to economic development, the effects of inequality, high unemployment and demographic growth. In addition, the development of the SME sector can contribute to strengthening competitiveness and productivity, while increasing Gross domestic product (GDP) and per capita income growth. This development will also promote the structural transformation of the SME sector, due to its connection with innovation and technological development. The study aims to identify and analyze the main structuring that affect the success and growth of small and medium enterprises (SMEs), ie their performance, as well as to analyze the effects that these indicators have on the economic growth of SMEs. In this research are addressed some important issues and general problems of the financing system, the financial situation of small and medium businesses in northern Macedonia. Also, this paper will present, both from a theoretical and practical point of view, the relationship between these key performance indicators, or in other words, SME growth. Therefore, the development of the SME sector is very important in Macedonia, especially considering that social problems are largely the consequence of unequal economic growth.
VL  - 8
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Author Information

Ilaz Ameti

Faculty for Business Administration, State University Tetovo, Tetovo, Republic of North Macedonia
Naser Ameti

Sekretariat for Implementation Ohrid Agreement, Skopje, Republic of North Macedonia
Xhelal Luma

Faculty of Technical Sciences, University of Pristina-Hasan Prishtina, Prishtina Republic of Kosovo
Jerina Vukaj Nazaj

Faculty for Economy & Agrobusiness, Agricultural University of Tirana, Tirana, Republic of Albania

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APA Style

Ilaz Ameti, Naser Ameti, Xhelal Luma, Jerina Vukaj Nazaj. (2022). Organization of Small and Medium Enterprises in the Republic of Northern Macedonia. International Journal of Finance and Banking Research, 8(2), 73-77. https://doi.org/10.11648/j.ijfbr.20220802.14

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ACS Style

Ilaz Ameti; Naser Ameti; Xhelal Luma; Jerina Vukaj Nazaj. Organization of Small and Medium Enterprises in the Republic of Northern Macedonia. Int. J. Finance Bank. Res. 2022, 8(2), 73-77. doi: 10.11648/j.ijfbr.20220802.14

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AMA Style

Ilaz Ameti, Naser Ameti, Xhelal Luma, Jerina Vukaj Nazaj. Organization of Small and Medium Enterprises in the Republic of Northern Macedonia. Int J Finance Bank Res. 2022;8(2):73-77. doi: 10.11648/j.ijfbr.20220802.14

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@article{10.11648/j.ijfbr.20220802.14,
  author = {Ilaz Ameti and Naser Ameti and Xhelal Luma and Jerina Vukaj Nazaj},
  title = {Organization of Small and Medium Enterprises in the Republic of Northern Macedonia},
  journal = {International Journal of Finance and Banking Research},
  volume = {8},
  number = {2},
  pages = {73-77},
  doi = {10.11648/j.ijfbr.20220802.14},
  url = {https://doi.org/10.11648/j.ijfbr.20220802.14},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijfbr.20220802.14},
  abstract = {Small and medium enterprises (SMEs) have a very important economic and social role, due to their contribution to the functioning of the economic network and job creation. These contributions are very valuable in the conditions of crisis and rising unemployment. Especially in the Republic of Northern Macedonia, the development of SMEs can affect the many challenges related to economic development, the effects of inequality, high unemployment and demographic growth. In addition, the development of the SME sector can contribute to strengthening competitiveness and productivity, while increasing Gross domestic product (GDP) and per capita income growth. This development will also promote the structural transformation of the SME sector, due to its connection with innovation and technological development. The study aims to identify and analyze the main structuring that affect the success and growth of small and medium enterprises (SMEs), ie their performance, as well as to analyze the effects that these indicators have on the economic growth of SMEs. In this research are addressed some important issues and general problems of the financing system, the financial situation of small and medium businesses in northern Macedonia. Also, this paper will present, both from a theoretical and practical point of view, the relationship between these key performance indicators, or in other words, SME growth. Therefore, the development of the SME sector is very important in Macedonia, especially considering that social problems are largely the consequence of unequal economic growth.},
 year = {2022}
}

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TY  - JOUR
T1  - Organization of Small and Medium Enterprises in the Republic of Northern Macedonia
AU  - Ilaz Ameti
AU  - Naser Ameti
AU  - Xhelal Luma
AU  - Jerina Vukaj Nazaj
Y1  - 2022/04/14
PY  - 2022
N1  - https://doi.org/10.11648/j.ijfbr.20220802.14
DO  - 10.11648/j.ijfbr.20220802.14
T2  - International Journal of Finance and Banking Research
JF  - International Journal of Finance and Banking Research
JO  - International Journal of Finance and Banking Research
SP  - 73
EP  - 77
PB  - Science Publishing Group
SN  - 2472-2278
UR  - https://doi.org/10.11648/j.ijfbr.20220802.14
AB  - Small and medium enterprises (SMEs) have a very important economic and social role, due to their contribution to the functioning of the economic network and job creation. These contributions are very valuable in the conditions of crisis and rising unemployment. Especially in the Republic of Northern Macedonia, the development of SMEs can affect the many challenges related to economic development, the effects of inequality, high unemployment and demographic growth. In addition, the development of the SME sector can contribute to strengthening competitiveness and productivity, while increasing Gross domestic product (GDP) and per capita income growth. This development will also promote the structural transformation of the SME sector, due to its connection with innovation and technological development. The study aims to identify and analyze the main structuring that affect the success and growth of small and medium enterprises (SMEs), ie their performance, as well as to analyze the effects that these indicators have on the economic growth of SMEs. In this research are addressed some important issues and general problems of the financing system, the financial situation of small and medium businesses in northern Macedonia. Also, this paper will present, both from a theoretical and practical point of view, the relationship between these key performance indicators, or in other words, SME growth. Therefore, the development of the SME sector is very important in Macedonia, especially considering that social problems are largely the consequence of unequal economic growth.
VL  - 8
IS  - 2
ER  -

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