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The Need For Entrepreneurhsip Development: The Case Of The City Of Osijek

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  • DJULA BOROZAN

    ()
    (J.J. Strossmayer University in Osijek, Faculty of Economics in Osijek, Croatia)

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    Abstract

    There is growing understanding that entrepreneurship is a fruitful strategic development option for local economic development, especially in the rural areas. This strategy being also known as homegrown development refers to a process of supporting and encouraging people to become entrepreneurs in order to enhance the economic prosperity of a community, by: first, creating the environment being favorable for creativity and innovativeness; second, encouraging entrepreneurship as an eligible career option through entrepreneurial education, facilitation and recognition, and third, developing institutional support system to entrepreneurs. The main aim of this paper is to discuss the economic strength of small and mediumsized enterprises (SMEs) in the economic development of the city of Osijek, and to explore the perception of the Osijek's entrepreneurs about the role of institutions in entrepreneurship development. The analysis indicates the SMEs have had a weak economic power. Small and medium-sized enterprises, although numerically overwhelming, employ approximately half of the total employed in the City, operate continuously with financial losses, and are oriented mostly to doing business locally. According to the perception of Osijek's entrepreneurs, the biggest business challenges are caused by problems connected to entrepreneurial environment conditions, i.e. institutional infrastructural conditions, and the least to inappropriate profiles and inefficiency of local work force. Drown from these findings, lessons considering the process of entrepreneurship development in the City of Osijek are discussed as well.

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    File Function: Revised version, 2007
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    Bibliographic Info

    Article provided by Babes-Bolyai University, Faculty of Business in its journal JOURNAL STUDIA UNIVERSITATIS BABES-BOLYAI NEGOTIA.

    Volume (Year): (2007)
    Issue (Month): ()
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    Handle: RePEc:bbn:journl:2007_1_3_borozan

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    Related research

    Keywords: entrepreneurship development; the City of Osijek; entrepreneurial framework conditions; institutions;

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    References

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    1. Ruta Aidis, 2003. "Entrepreneurship and Economic Transition," Tinbergen Institute Discussion Papers 03-015/2, Tinbergen Institute.
    2. Wennekers, Sander & Thurik, Roy, 1999. " Linking Entrepreneurship and Economic Growth," Small Business Economics, Springer, vol. 13(1), pages 27-55, August.
    3. John McMillan & Christopher Woodruff, 2002. "The Central Role of Entrepreneurs in Transition Economies," Journal of Economic Perspectives, American Economic Association, vol. 16(3), pages 153-170, Summer.
    4. Zoltan Acs & Laszlo Szerb, 2007. "Entrepreneurship, Economic Growth and Public Policy," Small Business Economics, Springer, vol. 28(2), pages 109-122, March.
    5. Ruta Aidis & , Julia Korosteleva & , Tomasz Mickiewicz, 2008. "Entrepreneurship in Russia," Working Papers 88, CENTRE FOR THE STUDY OF ECONOMIC AND SOCIAL CHANGE IN EUROPE,School of Slavonic and East European Studies,University College London (SSEES,UCL).
    6. Baumol, William J, 1990. "Entrepreneurship: Productive, Unproductive, and Destructive," Journal of Political Economy, University of Chicago Press, vol. 98(5), pages 893-921, October.
    7. Audretsch, David B. & Keilbach, Max C. & Lehmann, Erik E., 2006. "Entrepreneurship and Economic Growth," OUP Catalogue, Oxford University Press, number 9780195183511, October.
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    Cited by:
    1. Djula Borozan, 2009. "Enhancing Regional Competitiveness Through the Entrepreneurship Development," Interdisciplinary Management Research, Faculty of Economics in Osijek, Croatia, vol. 5, pages 731-747.

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