ALTERNATIVE SOURCES OF SMEs FINANCING IN REPUBLIC OF MACEDONIA

Trajkoska, Gordana and Vitanova, Gordana and Odzaklieska, Dragica and Spaseska, Tatjana (2014) ALTERNATIVE SOURCES OF SMEs FINANCING IN REPUBLIC OF MACEDONIA. SMEs DEVELOPMENT AND INNOVATION: BUILDING COMPETITIVE FUTURE OF SOUTH-EASTERN EUROPE.

Full text not available from this repository.

Abstract

Long - term financial policy and strategy of small and medium-sized enterprises in terms of market economy should allow realization of the current and developing goals aiming towards strengthening of long-lasting ability of financing and payment as well as preserving and increasing of the property. In fact, the financial policy as a complex and heterogeneous activity focused towards the study of the process of financing for the purpose of optimization of financial goals and improving financial decisions, has a priority goal to allow realization of financial interests of all participants in the process of distribution of the financial result and competitive advantage of SMEs which would be a result from the selection of appropriate sources of funding. Under these provisions, SMEs have an emphasized need for optimization of funding sources that will allow maximization of the final financial effects on the one hand and minimizing the initial investment on the other. In the Macedonian economy, due to the complex economic and social conditions, many businesses are faced with the issue of providing quality funding sources. In the structure of funding sources of financing of SMEs in the Republic of Macedonia, the participation of shortterm bank loans dominates, and that results in permanent increasing of the financing costs in the total cost of operation. The absence of quality funding sources for businesses, in most cases is a consequence of the underdevelopment of the financial market, especially the capital market, financial policy of bank institutions and high interest rates of their long-term investments in economy, limited knowledge of management teams regarding the possibilities and the advantages of other alternative funding sources, not including the bank loans etc. Therefore, special focus and analysis of the condition regarding the financing of SMEs in the Republic of Macedonia will be presented in this paper.

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: 30 Dec 2019 07:50
URI: http://eprints.uklo.edu.mk/id/eprint/2301

Actions (login required)

View Item View Item