Small bussines

Small business has become an important research topic for economists and policymakers working on economic development and regional growth. Its importance and significance is due to the fact that small businesses are the fundamental basis for building a competitive environment, as well as the basis for forming a middle class society. The small business sector provides flexible and
fast satisfaction of consumer needs; it serves as an effective tool for resolving social and economic problems both at national and regional levels. Small businesses create 50% of GDP1, provide jobs for more than half the population of Western Europe and the U.S.2, make a significant contribution to the export potential, facilitate implementation in manufacturing the latest achievements of science and technology, and so on.