INCREASING FUNDING FOR THE REGIONAL INDUSTRY OF KOSOVO AND THE IMPACT ON ECONOMIC GROWTH

Filipos RUXHO

Prof. Ass. Dr., Vice President for Innovation and External Relations, Universum College, Kosovo

filip.ruxho@universum-ks.org

Christos Ap. LADIAS

Professor, Regional Science Inquiry  Journal, Hellenic Association of Regional Scientists

ladias@rsijournal.eu

Abstract

All research so far, related to financing the needs of SMEs in Kosovo, show that financing remains among the main problems for starting the growth and development of the country’s economy, especially for regional small and medium-sized manufacturing enterprises. This phenomenon has created negative consequences in the growth and development of businesses in general, as well as the growth of investment activities in particular. Despite the fact that SMEs affect the generation of new jobs, poverty reduction and economic growth, SMEs in Kosovo still face various and serious challenges in business development. Among other difficulties, there is access to finance, as well as the possibility of investing from external sources, as internal sources of funding are always insufficient. Due to the strategic importance of the manufacturing industry sector in the economy of a country and knowing that for each job contributes 2.3 new jobs in the total economy, we have selected this research which also corresponds to objective 9 of sustainable development and specifically target 9.3 that promotes increased access of small industrial enterprises and other enterprises, especially in developing countries, to financial services, including affordable loans, and their integration into value chains and markets. Referring to this importance, we conducted research in 103 Kosovo regional manufacturing companies in various sectors. The survey was structured with 16 questions which will be presented in detail in this research and which confirm that the increase of financing in the productive sector contributes to the sustainable economic development of Kosovo and to the reduction of unemployment.

Keywords: Financing, Sustainable Development, SMEs, Regional Industry, target

JEL classification: A10, E43, F65, F66, H60, L60, M10, R10

 pp. 117-126

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STRATEGIES OF SMALL ENTERPRISES DEVELOPMENT IN AFRICAN COUNTRIES

Tatyana Nikolaevna YAKUBOVA

Associate Professor, Department of Management, Faculty of Economics, Peoples’ Friendship University of Russia (RUDN University), 6, Miklukho-Maklaya Street, Moscow, 117198, Russian Federation

yakubova_tn@rudn.university

Boy Moustoifa SAGAFFE

PhD student, Department of Management, Faculty of Economics Peoples’ Friendship University of Russia (RUDN University), 13, Miklukho-Maklaya Street, Moscow, 117198, Russian Federation

Sagaffe15@gmail.com

Abstract

The article describes the basic concepts and classification icons/symbols of small enterprises. Small enterprises are defined by the author as irreplaceable drivers of economic development, which are a source of economic growth and a tool for resources redistribution. This study analyzes the current strategies of small enterprises development in African countries such as Morocco, SAR and Tunisia, which made it possible to formulate conclusions and recommendations.

Keywords: African country, SMEs, entrepreneurship, small enterprises development strategies, competitiveness
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STRATEGIES OF SMALL ENTERPRISES DEVELOPMENT IN AFRICAN COUNTRIES

Yakubova, Tatyana NIKOLAEVNA

Associate Professor, Department of Management, Faculty of Economics, Peoples’ Friendship University of Russia (RUDN University), 6, Miklukho-Maklaya Street, Moscow, 117198, Russian Federation

yakubova_tn@rudn.university

Sagaffe Boy MOUSTOIFA

PhD student, Department of Management, Faculty of Economics, Peoples’ Friendship University of Russia (RUDN University), 13, Miklukho-Maklaya Street, Moscow, 117198, Russian Federation

Sagaffe15@gmail.com

Abstract

The article describes the basic concepts and classification icons/symbols of small enterprises. Small enterprises are defined by the author as irreplaceable drivers of economic development, which are a source of economic growth and a tool for resources redistribution. This study analyzes the current strategies of small enterprises development in African countries such as Morocco, SAR and Tunisia, which made it possible to formulate conclusions and recommendations.

Keywords: African country, SMEs, entrepreneurship, small enterprises development strategies, competitiveness.
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