Financial impact strategy on smes in the business world

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Author: 
Gligor Bishev and Tatjana Boshkov
Subject Area: 
Social Sciences and Humanities
Abstract: 

Globalization brings the threat of a weakened SME sector, since its role in exporting is less than proportional to its size; this reflects the economies of scale characterizing big markets. But globalization can also increase the importance of a strong SME sector, either where direct SME exports are feasible or where SME subcontractors help keep the country's large exporters competitive. The domestic industry by using knowledge, innovation development and upgrading the capacity of the small and medium enterprises can take the necessary changes for its output and increase export performance. All of this can contribute to sustainability of the economic growth and economic integration especially of small and open economies. Many transition and developing countries, in particular face a need to promote and strengthen the long term development of the SME sector, which requires access to market opportunities, as well as to new technology and management know-how, often in a situation of considerable resource scarcity. This paper aims to focus on contribution for developing financial strategies that could help to strengthen the SME sector in a way to record benefits from labor markets. Implementation of good strategies should increase the attractiveness of the labor markets in transition and developing countries for foreign investors which will improve the capacity of the SME sector.

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Editorial Board Member's

Dr.Geetanjali Joshi Mishra
Lucknow, UP, INDIA
Dr. Sankalp Verma
India
Tannu Arora
India
Prof Dr. Lee Mun Seng
Malaysia
Dr. Muhammad shoaib Ahmedani
Saudi Arabia
Dr. Lim Gee Nee
Malaysia
DANA MOHAMMED
UK
Ali Majnoony Tootakhaneh
Iran
Prof. Somchai Amornyotin
Thailand
Omenna Emmanuel Chukwuma
Nigeria
Nurhodja Akbulaev
Turkey
Muhammad Hamid
Pakistan
MOHAMMAD GHOLAMI
Iran
MAVLYANOV ISKANDAR RAKHIMOVICH
Uzbekistan
Hasan Ali Abed Al-Zu’bi
Jordan
Faraz Ahmed Farooqi
Saudi Arabia
Eric Randy Reyes Politud
Philippines
Eapen, Asha Sarah
USA
Dr. Ruchika Khanna
India
DR. MUHAMMAD ISMAIL MOHMAND
UK
DR. MAHESH SHIVAJI CHAVAN
India
Dr. Lokesh Gambhir
India
DR. IRAM BOKHARI
Pakistan
Dr. FARHAT NAZ RAHMAN
Pakistan
Dr. Charu Bisaria
India
Dr. Achmad Choerudin
Indonesia
Bensafi Abd-El-Hamid
Algeria
Dr. Pralhad Kanhaiyalal Rahangdale
India
Dr. ASHWANI KUMAR DUBEY
India
Dr. Arun Kumar
India
DR. M. ARUNA
India
ALIIHSAN SEKERTEKIN
Turkey
Yassine KADMI
French
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Dhaka
Jiban Shrestha
Nepal
Fredrick OJIJA
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Egypt
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Philippines
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Iraq
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Zafer Omer Ozdemir
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Uthumporn Utra
Malasiya
Tarek Habeeb Ramadan Ahmed
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