engleski

SME Sector Development and the Factors of Enterprise Growth in Croatia

The paper explores the main processes and determinants of growth of SMEs in Croatia and empirically explores the data generated through SME Exporters Survey covering the period between 1999 and 2004. The paper is based on a micro level analysis focusing on the characteristics of particular SMEs and entrepreneurs/managers that have achieved strong growth in terms of revenues, the number of employees and exports. When analysing SMEs’ growth, existing research often tends to emphasise the factors such as innovativeness and exportorientation, which is partly confirmed by findings presented in the paper. However, institutional change and economic restructuring imply differences in successful business strategies and factors that are conducive to SME growth in Croatia as opposed to more developed economies. Consequently, application of growth-oriented strategy is often inconsistent and/or based on taking advantage of market imperfections.

SME growth ; innovation ; export orientation ; Croatia

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