SMEs, the Backbone of the Albanian Economy (doi: 10.14706/icesos1725)

SMEs, the Backbone of the Albanian Economy (doi: 10.14706/icesos1725)

Dajci, Suada
Dalipaj, Amela

Abstract: Small and medium-sized enterprises (SMEs) play a fundamental role in the economic growth of a country. This report’s purpose is to determine and prove the great significance they have in Albanian economy, and what measures are needed to be taken in order to stimulate the establishment of new SMEs and assuring a long term sustainability of the existed ones in the market. In this paper is being analyzed the impact that SMEs have in GDP, employment, innovation, and investment. The data used in this report is gathered from INSTAT; Albanian Ministry of Economic Development, Trade and Entrepreneurship; Eurostat; and European Commission. According to this data, even though Albania has made improvements in the business sector, there is still much to be done related to SME development such as: the improvement of business climate, further simplification of legislation, implementation of favorable financial assistance schemes, and easily providing low interest loans. Keywords: economic growth, GDP, employment, innovation, investment, turnover

Conference or Workshop Item
PeerReviewed

2017

3662