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Specificities and Peculiarities in Determining the Nature of the Concept "Small and Medium-Sized Enterprises"

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  • Hristina Vasileva

    (University of Economics - Varna)

Abstract

SMEs are one of the most widely used business models in today's economy. This explains the great scientific and applied interest in them as one of the elements in the economic system that is subject to constant study. For the purposes of SME management, the essence of this concept needs to be clearly defined. There are two approaches to defining it, quantitative and qualitative. In the specialist literature, each of approaches has both advantages and disadvantages. The present study provides a critical analysis of existing approaches, on the basis of which a new comprehensive approach is proposed to define the concept of SMEs

Suggested Citation

  • Hristina Vasileva, 2019. "Specificities and Peculiarities in Determining the Nature of the Concept "Small and Medium-Sized Enterprises"," Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series, Union of Scientists - Varna, Economic Sciences Section, vol. 8(1), pages 75-83, April.
    • Handle: RePEc:vra:journl:v:8:y:2019:i:1:p:75-83
    DOI: 10.36997/IJUSV-ESS/2019.8.1.75
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    References listed on IDEAS

    as
    1. Meghana Ayyagari & Thorsten Beck & Asli Demirguc-Kunt, 2007. "Small and Medium Enterprises Across the Globe," Small Business Economics, Springer, vol. 29(4), pages 415-434, December.
    2. Jerome S. Osteryoung & Derek Newman, 1993. "What Is a Small Business?," Journal of Entrepreneurial Finance, Pepperdine University, Graziadio School of Business and Management, vol. 2(3), pages 219-231, Summer.
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    More about this item

    Keywords

    SME definition; qualitative and quantitative characteristics;

    JEL classification:

    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms

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