engleski

Exploring Barriers to Acquisitive Growth of SMEs in Croatia

Firm growth has received considerable attention in entrepreneurship research. Most of the researchers have focused their research efforts on organic growth even though SMEs can achieve growth in different ways (e.g. acquisition). Acquisitions as a phenomenon have predominantly been studied on large companies, therefore published research and theories have been developed almost exclusively from the studies of large acquisition deals. The acquisitive growth of SMEs represents an under- researched topic in entrepreneurship research, as do different barriers hindering acquisitive growth. The aim of this paper is to identify and further explore barriers to the acquisitive growth of SMEs in a specific entrepreneurial ecosystem context of Croatia. Qualitative research design, primarily semistructured interviews with SME owners provided identification and a deeper understanding of barriers to acquisitive growth. The research pointed to deficiencies of the entrepreneurial ecosystem in Croatia regarding acquisitive growth, especially regarding financing and commercial and legal infrastructure, and provided recommendations for improvement of its certain components.

SME, acquisition, growth, entrepreneurial ecosystem, barriers

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