UTICAJ GLOBALIZACIJE SVJETSKIH TRŽIŠTA I EKONOMSKIH KRIZA NA POKRETANJE I RAZVOJ MALIH BIZNISA U BOSNI I HERCEGOVINI –KOMPARATIVNA ANALIZA U ODNOSU NA AUSTRIJU I OSTALE ZEMLJE EUROPSKE UNIJE / THE IMPACT OF GLOBALIZATION OF THE WORLD MARKET AND ECONOMIC CRISIS ON THE START AND DEVELOPMENT OF SMALL BUSINESSES IN BOSNIA AND HERZEGOVINA - COMPARATIVE ANALYSIS RELATED TO AUSTRIA AND OTHER COUNTRIES OF THE EUROPEAN UNION

Abstract

In order to be able to survive or develop their entrepreneurial activities, entrepreneurs must undertake activities on the markets of other countries and thus have globalization of economic activities. The entrepreneur must choose the appropriate strategy when entering the global market. Small and medium-sized companies are striving to have a good market and financial position on the market, and they must take into account all the limitations in today's global market. They are faced with various difficulties in their business, starting with the ethnocentrism of consumers and their competitiveness alongside transnational companies. Economic crises also have a major impact on the start up or development of small and medium-sized enterprises both in BiH and in the European Union. The result of the economic crisis is less capital in circulation, more expensive capital and stagnation of entrepreneurial activity. Certainly, this is not the case with the relatively unregulated market in BiH or in the market of Austria and other European Union countries. The survey presents an analysis of the many factors that entrepreneurs are encouraging or disrupting from starting or developing a small business, and by analyzing the answers received, we have come to certain conclusions which are the most difficult factors for the development of small and medium enterprises.