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<p><strong><em>Introduction</em></strong></p><p>Entrepreneurship and SME development play a crucial role in speeding up the economic development of transition economies. Although entrepreneurship exists in all environments it flourishes in the conditions where it is supported. Transition economies, as well as Georgia, are characterized by inefficient framework conditions that present barriers to productive entrepreneurship and SMEs to develop and benefit the economies in their full potential.</p><p> </p><p><strong><em>Purpose</em></strong></p><p>The Thesis aimed at answering the following research questions:</p><p> </p><p>1)      To what extent the framework conditions necessary for promoting productive entrepreneurship and SME development exist in Georgia?</p><p>2)      What are the perceived barriers to entrepreneurship and SME development in Georgia?</p><p>3)      In what ways is entrepreneurship and SME development encouraged and supported in Georgia?</p><p><strong><em>Method</em></strong></p><p>The thesis consists of theoretical data such as literature review, secondary data presented by previous studies, and primary data collected by conducting interviews with Georgian entrepreneurs and representatives of governmental bodies and NGOs engaged in improving a business climate in the country.</p><p> </p><p><strong><em>Conclusions</em></strong></p><p>The study revealed that basic framework conditions for developing entrepreneurship are present in Georgia. Although inefficiencies and institutional gaps give rise to a number of barriers to entrepreneurship and SME development. They are mostly presented by inefficient tax system and financial framework. Despite their efforts towards fostering favourable business environment, GoG, as well as NOGs could do a better job in improving an indirect support in terms of abolishing imperfections in the taxation system, as well as directly providing finance, training and effectual information flow to existing and potential businesses.</p>

Introduction Entrepreneurship and SME development play a crucial role in speeding up the economic development of transition economies. Although entrepreneurship exists in all environments it flourishes in the conditions where it is supported. Transition economies, as well as Georgia, are characterized by inefficient framework conditions that present barriers to productive entrepreneurship and SMEs to develop and benefit the economies in their full potential.   Purpose The Thesis aimed at answering the following research questions:   1)      To what extent the framework conditions necessary for promoting productive entrepreneurship and SME development exist in Georgia? 2)      What are the perceived barriers to entrepreneurship and SME development in Georgia? 3)      In what ways is entrepreneurship and SME development encouraged and supported in Georgia? Method The thesis consists of theoretical data such as literature review, secondary data presented by previous studies, and primary data collected by conducting interviews with Georgian entrepreneurs and representatives of governmental bodies and NGOs engaged in improving a business climate in the country.   Conclusions The study revealed that basic framework conditions for developing entrepreneurship are present in Georgia. Although inefficiencies and institutional gaps give rise to a number of barriers to entrepreneurship and SME development. They are mostly presented by inefficient tax system and financial framework. Despite their efforts towards fostering favourable business environment, GoG, as well as NOGs could do a better job in improving an indirect support in terms of abolishing imperfections in the taxation system, as well as directly providing finance, training and effectual information flow to existing and potential businesses.

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Although there is consensus on the increasing role of emerging and developing economies in global markets, the literature on the mechanisms contributing to their growth remains still limited. The research aims to contribute to knowledge by exploring and understanding the process of transformation from a centrally planned economy into a market based economy. This transformation process is analysed from the perspective of a Venture Capital industry emerging and developing in Poland. The research focuses on the dynamics of particular factors and their impact on a specific set of stakeholders. In order to take a sufficiently broad contextual view, an organizational theory approach was employed. The Venture Capital industry was treated as a community of organizations which are connected by direct or indirect relationships. The interpretative framework was provided by two leading organizational theories: Institutional theory and Resource Dependence theory. The research is qualitative, and is guided by a specially designed framework for collecting and analysing the data. The primary data were collected though semi structured interviews with Venture Capital industry stakeholders of different types, and with different roles in the process. The research contributes to knowledge at three levels. Firstly, it addresses the literature gap on emergence of the Venture Capital industry in Poland. Secondly, it contributes to an understanding of the process of the emergence of a Venture Capital industry and economic transformation. Thirdly, findings may contribute to policy recommendations formulated to accelerate effective development in financial services.

The purpose of this thesis is to analyze Swedish entrepreneurs and how they recognize opportunities in transition economies. In order to reach the intention of thesis, a case study of three Swedish firms have been conducted with interviews. Theoretical framework consists of the entrepreneurship theory, opportunity recognition process and innovations which all are relevant to the study and research questions. The empirical findings include the case firms view on entrepreneurial characteristics, opportunities and innovations. The conclusions of the thesis are that opportunities are recognized by individuals with specific characteristics. Suppliers, customers and agents can influence opportunity recognition process and direction.

Charles University in Prague Faculty of Social Sciences Institute of Economic Studies MASTER THESIS The determinants of access to finance. Evidence for transition economies Author: Alina Cazachevici Supervisor: Roman Horvath, Ph.D. Academic Year: 2012/2013 Abstract The thesis provides an empirical analysis of impact of country-level and firm-level determinants on access to finance in transition economies. Generalized Ordered Logit model is applied on survey data for transition countries, combined with financial market indicators. The results show that higher concentration in banking sector, as well as higher financial deepening have a positive impact on access to finance, while volatile macroeconomic environment, higher implication of foreign-owned and state- owned banks seems to be perceived as increasing obstacles in accessing external financing. Combining indexes for liberalization in banking sector and liberalization of securities markets proved that before liberalization process firms had better access to finance. One of the possible explanations is that before liberalization state banks were forced by politicians to issue more loans, while after reforms the political pressure was removed, imposing stricter conditions for loan granting. Inclusion of corruption variable yields expectable results that...

This study is concentrated in recruitment strategies and finding the right competence for firms establishing in transition economies. The study is conducted with six Swedish companies operating in Russia and the Baltic States. Thus, this is a qualitative study in order to identify the different strategies used by the companies and why or why not they have been successful. Furthermore this study is based on in-depth interviews that give us the dimensions we need to solve the issue of recruitment in transition economies.  In conclusion the study shows us that major companies have issues when recruiting personnel in Russia and also a guidance what should be done in order to be as successful as possible in process of recruitment.