A Class Apart: The Relevance of the EU Preventive Restructuring Directive for Small and Medium Enterprises

2020 ◽  
Vol 21 (4) ◽  
pp. 895-913
Author(s):  
Jonathan McCarthy
Keyword(s):  
Small And Medium Enterprises ◽  
Medium Enterprises ◽  
The Eu

scholarly journals New tools and opportunities in growth and climate friendly greening for small and medium enterprises in the European Union

2015 ◽  
Vol 9 (4) ◽  
pp. 25-31
Author(s):  
Xénia Szanyi-Gyenes ◽  
György Mudri ◽  
Mária Bakosné Böröcz
Keyword(s):  
Economic Growth ◽  
Environmental Sustainability ◽  
Small And Medium Enterprises ◽  
Sustainable Growth ◽  
Added Value ◽  
Easy Access ◽  
The European Union ◽  
Access To Finance ◽  
Medium Enterprises ◽  
The Eu

The role of Small and Medium Enterprises (SMEs) is unquestionable in the European economies, while financial opportunities are still inadequate for them. The more than 20 million SMEs play a significant role in European economic growth, innovation and job creation. According to the latest EC Annual Report , SMEs are accounting for 99% of all non-financial enterprises, employing 88.8 million people and generating almost EUR 3.7 tn in added value for our economy. Despite the fact that there is plenty of EU funding available for these SMEs, for certain reasons these funds hardly reach them. But we have to see that the EU supports SMEs by various way, e.g. by grants, regulatory changes, financial instrument, direct funds. On the other hand, SMEs and decision makers realised that the environmental sustainability has to be attached to the economic growth, therefore more and more tools are available for these enterprises. Over the last few years, public institutions, the market, the financial community and non-governmental associations have explicitly demanded that firms improve their environmental performance. One of the greatest opportunities might lay in the Climate- and Energy Strategy till 2030 as 20% of the EU budget is allocated to climate-related actions, however the easy access to finance is still a key question. Does the EU recognise the actual difficulties? Is there a systemic reason behind the absorption problems? Is the EU creating a more businessfriendly environment for SMEs, facilitating access to finance, stimulates the green and sustainable growth and improving access to new markets? The paper analyses the current European situation of the SMEs and the effectiveness of some new tools, which are specially targeting SMEs. JEL classification: Q18

scholarly journals Sektor MŚP jako potencjalny odbiorca Funduszu Rozwoju Lokalnego Eksportu na przykładzie województwa podkarpackiego

2011 ◽  
Vol 7 ◽  
pp. 264-287
Author(s):  
Paweł Czapliński
Keyword(s):  
Small And Medium Enterprises ◽  
Medium Enterprises ◽  
The Eu

This article is an attempt to identify the needs of small and medium enterprises of Podkarpackie voivodeship in the scope of export support as well as establishing and developing economic contacts with subjects from the EU. As it is suggested by the conducted research, there is a considerable need to the use of export instruments and activities. Unfortunately, their implementation is faced with numerous limitations both on the side of enterprises themselves and their environment. It needs to be emphasised, however, that it requires changes not only at the administrative and legal level, but also at mental-related one.

scholarly journals SOME ASPECTS OF COMPARATIVE ANALYSIS OF SME STANDARDS IN THE EU AND GEORGIA

2020 ◽  
Vol 15 (20) ◽  
pp. 113-118
Author(s):  
Natia Kurdgelia
Keyword(s):  
Comparative Analysis ◽  
Small Business ◽  
Small Businesses ◽  
Small And Medium Enterprises ◽  
Business Sector ◽  
Definition Of ◽  
Medium Enterprises ◽  
Annual Balance ◽  
Annual Turnover ◽  
The Eu

There are different attitudes towards small business definition. Basically, the laws of the countries are based on the criteria on the basis of which this or that enterprise belongs to the small business sector. However, in EU countries, small and medium enterprises are considered as small businesses and they are considered in one context. The concept of small and medium business combines number of employees, annual turnover and annual balance. The official definition of small and medium enterprises in Georgia is partially in line with EU standards. The concepts of small business and micro business are established only in terms of tax policy, while in institutional and quantitative or qualitative terms its definition is not officially definite.

scholarly journals Economic Crisis and Macro-economic Status of Small and Medium Enterprises

ECONOMICS ◽  
2016 ◽  
Vol 4 (2) ◽  
pp. 9-27
Author(s):  
Zoran Lukić ◽  
Dragan Petrović ◽  
Rankica Marelj
Keyword(s):  
Economic Crisis ◽  
Small And Medium Enterprises ◽  
Economic Status ◽  
Radical Change ◽  
Economic Situation ◽  
Added Value ◽  
Macroeconomic Indicators ◽  
Balkan Region ◽  
Medium Enterprises ◽  
The Eu

Summary Small and medium enterprises comprise an optimal unity with large enterprises. Such approach provides an effective long-term economic structure. In the EU, the number of employees and added value of SMEs grew until 2008, followed by a stagnant trend during the crisis in the EU. As early as 2010, the added value started recovering, while a number of companies and employees stagnated. As for BiH, SMEs revenues dropped in the period from 2008 to 2009, followed by their recovery and growth, while the investments maintained constant decline to the end of the observed period. Macroeconomic indicators do not indicate a radical change of trends from 2008 to 2011. In that period, the EU recorded significant oscillations. Correlation analysis for BiH has shown an interconnection between GDP and industrial production, with SMEs revenues. The ratio of investments and SMEs revenues does not indicate the existence of a correlation. The economic crisis and instability of BiH affect the poor economic situation. BiH underutilizes EU funds for SME development. The EU Programme for SMEs and job creation has failed to demonstrate significant results in Bosnia and Herzegovina and the Balkan region. The economic crisis and instability affect the economic situation in BiH. Stimulus of creating new and expansion of existing SMEs is a prerequisite for economic recovery of the country in times of crisis and in the periods of economic prosperity.

scholarly journals Small and medium enterprises and eco-innovations: empirical study of Slovak SME´s

2019 ◽  
pp. 89-97 ◽  
Author(s):  
Ľubica Lesakova
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Circular Economy ◽  
Small And Medium Enterprises ◽  
Renewable Energy Sources ◽  
Well Being ◽  
Positive Contribution ◽  
Innovation Activities ◽  
Medium Enterprises ◽  
The Eu

Eco-innovation and green technologies are key to Europe´s future and they are at the heart of the European Union (EU) policies. The EU´s economic prosperity and well being are linked to its natural environment and the global demand for renewable energy and resource-efficient solutions will be a source of new jobs and economic growth in the years to come. As the numerous practical examples from industry demonstrate, eco-innovation is a powerful instrument that combines reduced negative impact on the environment with a positive impact on the economy and society. Eco-innovation call attention to the positive contribution that the small and medium enterprises can make to sustainable development and a competitive economy. To step towards sustainable economic growth, there is a need for much more eco-innovations to appear in small and medium enterprises (SMEs). The aim of the paper is to present the results of empirical research aimed at SME´s involvement in eco-innovation activities in Slovakia and to compare them with the EU 28 average. Our analysis is aimed at five eco-innovation activities contributing deeply to the circular economy. That is a) waste recycling and minimizing waste generation; b) re-planned energy usage to minimize consumption; c) redesigning products and services to minimize the use of materials or using recycled materials; d) changes to the use of water to minimize consumption and to maximize water re-usage; e) usage of renewable energy sources. Identified will be the actual and perceived issues (problems, difficulties) encountered by Slovak SMEs with regard to undertaking eco-innovations. Based on the research results formulated are the implications for SMEs managers and policymakers in Slovakia concerned with the SME´s involvement in ecoinnovation. Our study is qualitative and descriptive in nature and most of the data is based on secondary sources. The data used to assess the SME´s involvement in eco-innovation activities come from the survey commissioned by the EC in the year 2016 with the aim to explore SME´s activities in relation to the circular economy (including the ecoinnovation activities) in the period of years 2014-2016. As to the Slovakia 383 SMEs operating in manufacturing, services and in the industry sector has been interviewed. The methods used in the paper are the methods of causal analysis, deduction, abstraction, comparison as well as synthesis.

scholarly journals Support of local entrepreneurship: An empirical investigation for Serres-Greece

Spatium ◽  
2013 ◽  
pp. 16-21 ◽  
Author(s):  
Chrysanthi Balomenou ◽  
Marianthi Maliari
Keyword(s):  
Empirical Investigation ◽  
Small And Medium Enterprises ◽  
Local Development ◽  
The Internet ◽  
The European Union ◽  
Greek Language ◽  
Moral Hazards ◽  
Medium Enterprises ◽  
The Eu

This paper is divided into two parts, one theoretical and one empirical. The research deals with entrepreneurs that received loans from National Fund for Entrepreneurship and Development (ETEAN in Greek language). ETEAN provided enterprises with non interest or low interest loans based on state guarantees. The main objective of this research is to examine the project\'s effectiveness and its contribution into local development on Regional Unity of Serres, Central Macedonia, Greece. The first part is divided into two sections. A comparative analysis of guarantees to small and medium enterprises (SME?s) is presented in the first part referring to the European Union and in the second part to Greece. Particularly, in the first section of our paper presented data concerning guarantees provided in the EU. At the second section presented data which indicate the role of ETEAN?s programs into the contribution of local development in Greece and the moral hazards due to state provided guarantees. Furthermore, obstacles that entrepreneurs face when they applied for guarantee loans are analyzed in this part. Our data were extracted during the last three years by the extensive use of web links on the internet. Most data were taken from the websites of above mentioned ETEAN, the Pan-European Gateway to Business and Innovation Financing, the Gateway to European Research and Development and B.I.S. At the second part presented the results of our research based on 200 entrepreneurs in Serres who receive loans from ETEAN. The results analyzed with the use of descriptive statistical methods and correlations. It is noticeable that businessmen?s answers are similar to those deduced from the results of the researches that have been referred to in bibliography. In the final part of this paper the main conclusion is pointed out and that is that those programs which provide enterprises low interest or non interest loans support local development.

scholarly journals A regional assessment of trends in business development in Ukraine

2019 ◽  
pp. 112-119
Author(s):  
Iryna Nadtochii
Keyword(s):  
Economic Development ◽  
Positive Impact ◽  
Small And Medium Enterprises ◽  
Value Added ◽  
Business Development ◽  
Retail Trade ◽  
Association Agreement ◽  
Goods And Services ◽  
Medium Enterprises ◽  
The Eu

The purpose of the research. The purpose of the article is to assess regional trends in business development in Ukraine. Methodology. The theoretical and methodological basis of the study is the scientific works of scientists in the field of business development in Ukraine. To achieve this goal, the following research methods were used: PEST-analysis of the external environment of SME development in the regions; methods of statistical analysis – to assess changes in the dynamics of GRP for 2014–2018. Results. It is investigated that from 2016 until in Ukraine there was a certain economic recovery, which is confirmed by the growth of consumption and income, as well as the growth of consumer lending and remittances. But in 2018, there was a decrease in exports and imports of goods and services. Exports decreased by 2.8 % of GDP, and imports by 1.9 % of GDP compared to the previous 2017 year. The decline in exports is due to weakening external demand for domestic goods and services. Despite some difficulties, a number of reforms have been implemented in Ukraine, which has had a positive impact on the economic situation. Reforms in Ukraine are supported by the international community. In 2018, the IMF provided Ukraine with a reserve loan for a period of 14 months in the amount of 3.9 billion USD. Ukraine received 4.4 billion USD in EU macro-financial assistance US and a loan of 349 million EUR under the World Bank Guarantee to ensure economic development. After the crisis of the economy in 2014, Ukraine managed to restore macroeconomic stability by adhering to flexible exchange rate limits, tight fiscal policy, financial and energy reforms. The signing of the Association Agreement with the EU in 2014 on the establishment of a Deep and Comprehensive Free Trade Area with the EU had a positive impact on Ukraine’s economy. It is investigated that in 2018 the share of micro, small and medium enterprises (SMEs) in Ukraine was over 90 % of the total number of enterprises. SMEs provided more than 60 % of jobs and almost 50 % of value-added in the business sector. More than 50 % of the SME structure is concentrated in wholesale and retail trade. The downside is the fact that most SMEs are concentrated in a low value-added sector of the economy. However, the share of SMEs engaged in IT technologies has been growing rapidly over the last five years. Wholesale and retail trade have the largest share (43.1 %) in the structure of small and medium enterprises in the Odessa region. Practical meaning. The results of the analysis will allow the authorities of the country and its individual territories to develop the necessary measures to improve business conditions, improve living standards and ensure the effectiveness of economic development of the territory. Prospects for further research. Development of an economic mechanism for the transformation of business processes in the system of competitive development of territories.

Characteristics of Human Resource Management in SMEs in Serbia

2016 ◽  
Vol 4 (1) ◽  
pp. 237 ◽  
Author(s):  
Azra Hanić ◽  
Živka Pržulj ◽  
Marija Lazarević Moravčević
Keyword(s):  
Resource Management ◽  
Human Resource Management ◽  
Human Resource ◽  
Small And Medium Enterprises ◽  
Original Research ◽  
Theoretical Assumptions ◽  
The Subject ◽  
Medium Enterprises ◽  
Research Criteria ◽  
The Eu

The aim of this paper is to answer the question of whether the practice of small and medium enterprises ( SMEs) in Serbia represents the specifics of human resource management (HRM) in this type of enterprise. The paper contains the practice analysis of the human resource management as a precondition for creating competitive advantage of small an dmedium-sized enterprises in Serbia. The paper methodology is based on appropriate empirical research using a questionnaire, where the results were analyzed by the appropriate statistical method. The paper contains original research criteria in the process HRM in SMEs compared to large enterprises in a transition country that has not joined the EU. The research contributes to confirm the theoretical assumptions about the characteristics of HRM in SMEs and could have practical implications for the search for better professional solutions within the specific characteristics of SMEs. This paper presents only a part of the obtained results, which is the most important for the elaboration of the subject of this paper.

scholarly journals EU Policy Towards Small and Medium Enterprises in the Eastern Partnership Countries as an Instrument of Political Influence

2021 ◽  
Vol 102 (2) ◽  
pp. 28-39
Author(s):  
Vyacheslav Sutyrin ◽  
Keyword(s):  
Soft Power ◽  
Small And Medium Enterprises ◽  
Political Influence ◽  
The European Union ◽  
Eastern Partnership ◽  
Eastern Partnership Countries ◽  
Eu Policies ◽  
Medium Enterprises ◽  
Constructivist Approaches ◽  
The Eu

The paper deals with the problem of investigating strategies and experience of the European Union which it employs to strengthen its political influence in the Eastern Partnership countries by means of working with business sector. The author analyses statistical data, official EU position and programme documents, funding data. Institutional and constructivist approaches are employed to study the processes and results of EU policies. The study covers the period between 2009 and 2020, and investigates aims, instruments, funding, KPI of the EU in dealing with business communities of Eastern Partnership countries. The author gives an overview of a range of opinions in expert discussions concerning the humanitarian influence of the EU. The conclusion is drawn that the scale and forms of EU interventions and funding for particular country are conditioned by the level of political relationship with its government. The bulk of funding (more than 60%) is directed not to loans or subsidies to SMEs, but to humanitarian (i.e. “soft power”) projects focusing of particular groups – entrepreneurs, active youth, regions, officials, etc. EU humanitarian penetration into focus countries of EP creates an infrastructure, social organizations and groups, which could be utilized to political ends.

Sign in / Sign up

Export Citation Format

Share Document