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The Role of Small and Medium Enterprises in World Economies – Some Aspects

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  • Orlin Todorov

Abstract

Discussed are some practical and theoretical issues of the development of small and medium enterprises (SME) and their significance in world economy. It is confirmed that they are the dominating type enterprises in the world; they play an important role for the creation of employment, especially in periods of crisis; they have a positive impact on a number of macro- and microeconomic variables and on the general prosperity of individual nations; they have positive effect on the processes of intraenterprise cooperation and regional development etc. Also analyzed are some of the factors which contribute for the increase of the importance of small enterprises in global economy. Shown is Bulgaria’s place in the field of the discussed issues.

Suggested Citation

  • Orlin Todorov, 2008. "The Role of Small and Medium Enterprises in World Economies – Some Aspects," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 4, pages 69-79.
    • Handle: RePEc:bas:econth:y:2008:i:4:p:69-79
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    JEL classification:

    • F01 - International Economics - - General - - - Global Outlook
    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory

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