FACTORS OF DEVELOPMENT OF SMALL ENTERPRISES IN THE DEVELOPING COUNTRIES ECONOMICS

Abstract

The effective functioning and stability of small businesses in developing countries have been identified by the Committee for Economic Development, as a priority task for a number of reasons. Indeed, these small companies act as a vital development factor financing the local economy. Proper application of development factors avoids the bankruptcy of small companies. The role of development factors in promoting the emergence and strengthening of viable small enterprises in developing countries has been examined in the article. The issues of development of small business factors in developing countries to improve the business climate in the region have been considered. It has identified what factors need to be improving for continued growth in the welfare of small businesses in developing countries.

Keywords

• developing countries
• factors of development
• innovative ability
• technologies and organizations
• competitiveness