The importance of SMEs innovation for improving the competitiveness of the Republic of Macedonia

Gveroski, Miroslav and Risteska, Aneta and Dimeski, Stevco and Risteska, Fanka and Spaseska, Tatjana (2016) The importance of SMEs innovation for improving the competitiveness of the Republic of Macedonia. International May Conference on Strategic Management - IMKSM2016.

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Nowadays a lot of scientific researches show that SMEs have a huge contribution for employment, utilization of entrepreneurial abilities, rational use of national and local resources, the creation of added value and the inclusion of the national economy in world trade through their internationalization. That means that they are key drivers of economic growth in the contemporary economies. Their importance is due to their characteristics such as flexibility and rapid production reorientation, entrepreneurial orientation, and especially their creativity and innovation. They represent the most favorable soil where they came to the fore entrepreneurial spirit and innovation processes. From the independence of Republic of Macedonia continuously is increasing participation and importance of small and medium enterprises, not only by their percentage in the total number of enterprises, but also their contribution to the creation of gross domestic product and job creation. Today these enterprises are the most dynamic and efficient segment of the economic structure of the country. With that SMEs are becoming the most important factor for creating competitive economy. From the level of their competitiveness will depend on their future development and their participation in economic development. First they build their competitiveness in the domestic market and then they are expanding their activities in international markets. The competitive advantage of any modern enterprise is based on SMEs ability for innovations in products or production processes. Only through innovation these companies will increase their and competitive advantage of the national economy. Therefore the main task of SMEs is the introduction of innovation in all fields of their activities for adaption to the market needs. Considering all this the main aim of the paper will be through analyzing the importance of small and medium enterprises for the development of the country to realize their competitiveness and contribution for promoting the national economy competitiveness and also to show the necessity of innovation for increasing the competitiveness and economic growth.

Item Type: Article
Subjects: Scientific Fields (Frascati) > Social Sciences > Economics and Business
Divisions: Faculty of Economics
Depositing User: Mr Dimitar Risteski
Date Deposited: 27 Dec 2019 20:36
Last Modified: 05 Mar 2020 09:42

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