SME ENTREPRENEURSHIP AND ITS CONTRIBUTION TO ECONOMIC ACTIVITY IN THE REPUBLIC OF SRPSKA
DOI:
https://doi.org/10.7251/ZREFIS1715055SKeywords:
entrepreneurship, small and medium enterprises, added value, employment, economyAbstract
Research on the role and importance of entrepreneurship in economic development is influenced by the orientation of development policies in advanced economies. Considering that the orientation towards entrepreneurial activity and development of small business is present in developed economies, the aim of this research is to determine the impact of entrepreneurial activity of SMEs on the economy in the Republic of Srpska. The methods used in the paper are: analysis, synthesis, induction, deduction, comparison, benchmarking. The results of the research have shown that SMEs in the Republic of Srpska generate more new jobs, achieve higher turnover and create more added value than big companies. However, big firms are more profitable and have higher productivity, leading to the conclusion that development policies should not be rigorously limited to the development of only one sector, but rather to encourage their coexistence.References
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