Faculty of Economics & Business Zagreb
Small and Medium-sized Enterprises (SME) play a central role in the European economy. They are a major source of entrepreneurial skills, innovation and employment. In European Union 23 million SMEs provide around 75 million jobs and represent 99% of all enterprises. However, they are often confronted with market imperfections. SMEs frequently have difficulties in obtaining capital or credit, particularly in the early start-up phase. Their restricted resources may also reduce access to new technologies or innovation. In order to ensure that its enterprises remain competitive within the Single and global market, Croatian companies need to invest in new processes and new technologies including ICT development, development of new products, including testing and certification to ensure their compliance with international quality standards.