FINANCING OBSTACLES OF SMALL ENTERPRISES - EMPIRICAL ANALYSIS IN THE REPUBLIC OF SERBIA Cover Image

FINANCING OBSTACLES OF SMALL ENTERPRISES - EMPIRICAL ANALYSIS IN THE REPUBLIC OF SERBIA
FINANCING OBSTACLES OF SMALL ENTERPRISES - EMPIRICAL ANALYSIS IN THE REPUBLIC OF SERBIA

Author(s): Slobodanka Jovin
Subject(s): Micro-Economics
Published by: Универзитет у Нишу
Keywords: small enterprises and entrepreneurs; financing obstacle; financial institutions; loan; risk

Summary/Abstract: Small enterprises are the driving force of any economy, and the engine of economic growth in both developed countries and countries in transition. One of the problems that small enterprises and entrepreneurs face is the lack of financial resources, or difficult access to them, for starting and financing the development of their entrepreneurial venture. The aim of the paper is to analyze the financing difficulties of small enterprises and entrepreneurs in the Republic of Serbia. 167 enterprises were surveyed and their responses were grouped into three groups depending on the size of an enterprise: small enterprises and entrepreneurs, medium enterprises and large enterprises so that by comparing the obtained results we could determine the differences in attitudes depending on the size of an enterprise and prove that small enterprises have limited access to financial resources. The research investigated financing constraints, financial services and approved loan conditions in relation to the size of an enterprise. The results showed statistically significant differences between small, medium and large enterprises in the majority of the observed parameters and that small enterprises and entrepreneurs have difficult access to financial resources.

  • Issue Year: XL/2016
  • Issue No: 3
  • Page Range: 1101-1118
  • Page Count: 18
  • Language: English
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