IMPACT OF ECONOMIC CRISIS ON SMALL ENTREPRENEURSHIPDr Idriz Ćosić
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Number 9 |
ABSTRACT
Taking into account that when starting their own business, most entrepreneurs in early stages of the entrepreneurial activity rely on their own skills and abilities, the impact of the crisis on growth expectations is not of great importance. However, certain aspirations of "emerging" entrepreneurs will change, given that very often new entrepreneurs overestimate the expected growth of their own business enterprise. However, it has been proven that those who expect high growth, after a few years achieve higher expansion than entrepreneurs with modest growth expectations. To some extent, the economic crisis can stimulate innovative entrepreneurship. During the economic upswing, a lot of money is spent on research and development, but the expected investment in many cases have not yet been implemented because the "old" products and processes still generate good returns.
Keywords: economics, an economic crisis, entrepreneurship.