Elaboration of importance of fast growing companies gazelles: new evidence from Serbia

Brnjas, Zvonko and Vulićević, Vukica (2017) Elaboration of importance of fast growing companies gazelles: new evidence from Serbia. In: Fostering Entrepreneurship. Compass Publishing, Newton Abbot, pp. 44-54. ISBN 978-1-912009-83-1

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Abstract

Small and medium enterprises (SMEs) are one of the key pillars of development of all national economies, both the richest and those less developed. In this paper, attention is focused on the specific segment of SMEs, characterized by rapid and stable growth, ability to quickly adapt to changing market conditions and in the long term to operate at the high performance level. These companies are today known as "Gazelles", a term that was coined by an American author, David Birch. The interest for these companies, both at the macro level of policy creators, as well as at the company level, has grown rapidly in recent years because of their high potential for addressing issues of unemployment, creating a host of new products and services and added value for society as a whole and alike. The paper deals with issues such as definitions and basic characteristics of these companies, the key factors of their business, as well as their level of development in the European Union and the Republic of Serbia.

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