ENTREPRENEURIAL CLIMATE IN REPUBLIC OF MACEDONIA ACCORDING TO GLOBAL ENTREPRENEURSHIP MONITOR
ENTREPRENEURIAL CLIMATE IN REPUBLIC OF MACEDONIA ACCORDING TO GLOBAL ENTREPRENEURSHIP MONITOR

Summary/Abstract: This paper analyzes the trends in the entrepreneurship and the entrepreneurial climate in the Republic of Macedonia. Using the comprehensive survey of the Global Entrepreneurship Monitor (GEM) we follow various GEM indicators, from the first Country Report for 2008,up to the last available for 2013. We present our understanding of the results and based on it, we offer some practical suggestions for future research and to the key stakeholders in the country: the employment, the economic policy and the education authorities. As typical post-communist transitional country of the Western Balkans, Republic of Macedonia after the harsh transition towards a market driven economy, shows some positive change in terms of the slow growing from necessity towards opportunity driven motivation and investments. New generations of graduates particularly those in Information and telecommunication, construction and similar professions who do not want to pursue employment or to leave the country as economic emigrants, are much more opportunity then a necessity driven entrepreneurs. Having all that in mind, we advise that the Country should continue to reform its education system introducing content that fosters initiative, creativity and innovation. The free market initiative and democratization of the education system at all levels could only help these processes and, finally we stress the need for even further elimination of the bureaucratic barriers for small businesses startups and self-employment persons.

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