SPECIFIC FEATURES OF SME FINANCING IN CROATIA COMPARED TO THE EUROPEAN COUNTRIES

This paper analyzes the classification of the SME sector in Croatia compared to other EU countries. The main goal of this research was to define the SME classification in Croatia compared to other EU countries. The usual classification criteria are the number of employees, annual revenue and assets. On the basis of criteria analysis, similarities and differences in defining SMEs have been determined. Based on literature review, mainly research analyses conducted by public authorities in specific countries in charge of the SME sector, the SME share in the whole Croatian economy has been determined. The EU share of SME is more than 90%, and Croatia with the share of almost 98% definitely follows the trend. According to the main goal of this paper, the hypothesis has been put forward stating that typical financing types of the SME sector in Croatia do not significantly differ from the EU's ones. The hypothesis has been confirmed with scientific descriptive methods of induction and deduction on the basis of secondary data. The last part of the paper deals with the research result and outlines specific financing types. Along with typical financing types such as bank loans and other types of loans, some special financial aid programs financed by the EU have also been mentioned.