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: | https://eprints.uklo.edu.mk/id/eprint/2301 |
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