Small and medium business and The European Union: Mutual definitions

Abstract

There are many controversial public perceptions about small and medium business. According to some interpretations, the development of small and medium business (SME) represents a great chance for the countries of the Western Balkans to be included in the economic and social flows of economically developed European Union (EU) countries on an equal basis. According to other interpretations, SME business is only an addition to great business, and as such, if the great business does not develop in the country, the chances for more intensive development of SME businesses are very limited. Also, cooperation with economic entities within the EU is very significant. What are the chances for the development of this business? The answer is given in this scientific article.

E-Business as Catalyst for Global Transformation of SMEs: A Middle East Perspective

“…Although transition economies needed to pass through the process of privatization, deregulation, and corporatization [7], creation of fostering entrepreneurial environment is perceived as a necessary developmental precondition [8]. Some economies in MEASA region (Middle East -Africa -South-East Asia), such as Malaysia or Egypt, heavily rely on SMEs that catalyze the economic growth of the entire country.…”