Event Title

The importance of non-financial services for the development of SMEs - Kosovo Case

Session

Management, Business and Economics

Description

More than 90% of the registered companies in Europe and even globally account to be SMEs and those are reported to drive the economic development and job creations worldwide. Being as important as described the development of SME-s vary from country to country and mainly as per the OECD reports exclusively they depend on the overall development of their respective countries and mostly facing similar problems like access to finance or inefficient cooperate governance and other similar challenges which will be outlined in this document In Kosovo, the figures look similar if we include the micro companies within the same group with other “bigger” SME-s. In this respect 90% of registered companies every year belong to this group, and the same percentage applies to the overall active companies in the country according to the data’s published by CBK. However, there are no specific national statistics about graduation of these companies from micro to small which could be a very interesting statistic to create an opinion about the potential of development for our companies. It is also widely known that access to finance is one of the biggest problems of SMEs, however it has not much been discovered about the role of the non-financial services in their development. Due to this fact this paper intends to shed some more light to get a clear vision of how would the non-financial services impact the pace of development of the micro and small companies in Kosovo that would directly contribute to the overall economic wellbeing.

Keywords:

Entrepreneurship, SME development, Start Ups, Banking, Access to finance, developing countries

Session Chair

Edmond Hajrizi

Session Co-Chair

Naim Preniqi

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-437-69-1

Location

Pristina, Kosovo

Start Date

27-10-2018 9:00 AM

End Date

27-10-2018 10:30 AM

DOI

10.33107/ubt-ic.2018.320

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Oct 27th, 9:00 AM Oct 27th, 10:30 AM

The importance of non-financial services for the development of SMEs - Kosovo Case

Pristina, Kosovo

More than 90% of the registered companies in Europe and even globally account to be SMEs and those are reported to drive the economic development and job creations worldwide. Being as important as described the development of SME-s vary from country to country and mainly as per the OECD reports exclusively they depend on the overall development of their respective countries and mostly facing similar problems like access to finance or inefficient cooperate governance and other similar challenges which will be outlined in this document In Kosovo, the figures look similar if we include the micro companies within the same group with other “bigger” SME-s. In this respect 90% of registered companies every year belong to this group, and the same percentage applies to the overall active companies in the country according to the data’s published by CBK. However, there are no specific national statistics about graduation of these companies from micro to small which could be a very interesting statistic to create an opinion about the potential of development for our companies. It is also widely known that access to finance is one of the biggest problems of SMEs, however it has not much been discovered about the role of the non-financial services in their development. Due to this fact this paper intends to shed some more light to get a clear vision of how would the non-financial services impact the pace of development of the micro and small companies in Kosovo that would directly contribute to the overall economic wellbeing.