ANALYSIS OF THE INVESTMENT ACTIVITY OF SMEs IN NORTH MACEDONIA

Aneta Risteska Jankuloska, Miroslav Gveroski, Kosta Sotiroski and Tatjana Spaseska
Additional contact information
Aneta Risteska Jankuloska: UNIVERSITY ST KLIMENT OHRIDSKI - BITOLA
Miroslav Gveroski: UNIVERSITY ST KLIMENT OHRIDSKI - BITOLA
Kosta Sotiroski: UNIVERSITY ST KLIMENT OHRIDSKI - BITOLA
Tatjana Spaseska: UNIVERSITY ST KLIMENT OHRIDSKI - BITOLA

Annals - Economy Series, 2022, vol. 3, 4-15

Abstract: Today, small and medium-sized enterprises are increasingly involved in creating new jobs, creating added value and involving the domestic economy in world trade through their internationalization. Therefore, small and medium enterprises are the key drivers of economic development. There are number of weaknesses and advantages between small and medium enterprises and large enterprises and also similarities and differences in the realization of various business activities. Investments are important for the development of SMEs. Considering this, investment decision are one of the most rewarding business decisions. The investment decision-making process is a complex and dynamic process, which means analysis of all factors (financial, market, technical-technical, location, social), anticipation of different alternatives, perception and evaluation of the effects. The procedure for assessing the justification of investment projects is different for small and medium enterprises from large ones. The differences arise from the opportunities for access of these companies to the sources of financing, from the opportunities and capabilities for planning by the owners of small enterprises, the short-term orientation in the operation and especially from the way of management. Due to all this, the process of investment decision-making in SMEs is usually avoided or it’s reduced only to a superficial analysis of the business environment and the application of investment criteria. Therefore, the main goal of this paper will be to assess and analyze the importance of special determinants of investment activity in small and medium enterprises in North Macedonia. At the end, in the conclusion a lot of considerations, measures and solutions for more serious treatment of investment decision-making in SMEs will be proposed.

Keywords: SMEs; investment decision-making (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.utgjiu.ro/revista/ec/pdf/2022-03/01_Risteska.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2022:v:3:p:4-15

Access Statistics for this article

More articles in Annals - Economy Series from Constantin Brancusi University, Faculty of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Ecobici Nicolae ( this e-mail address is bad, please contact ).