PERSPECTIVES FOR DEVELOPMENT OF SMALL AND MEDIUM ENTERPRISES IN NOVI PAZAR

Of the twenty million enterprises, existing in the European Union, 99% are Small and Medium Enterprises. They are contributing to the Gross domestic product of the EU with 60% and providing 80 million working places. That specifically means that SME employ two thirds of the total number of employed in the EU private sector. Small and Medium Enterprises are the motor of the economic development. They promote private property and entrepreneurial skills. According to the opinion of many experts and economists, SME are synonym for the private sector, and figuratively for the entrepreneurship. Their comparative advantage is in flexibility, ability to adapt on the changes and meet the needs of the market. In the EU countries, governments bring regulations which are focused on the support toward SME and stimulation of their growth and competitiveness.