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Title: | The assessment of formal barriers to the formation and survival of small businesses in Lithuania |
Authors: | Birskyte, Liucija Vinauskiene, Dalia |
Keywords: | Small business -- Government policy -- Lithuania Small business -- Finance Entrepreneurship -- Lithuania Taxation -- Law and legislation -- Lithuania Economic development -- Lithuania |
Issue Date: | 2015 |
Publisher: | Governance Research and Development Centre, Croatia & University of Malta, Faculty of Economics, Management and Accountancy, Department of Insurance |
Citation: | Birskyte, L., & Vinauskiene, D. (2015). The assessment of formal barriers to the formation and survival of small businesses in Lithuania. Journal of Corporate Governance, Insurance and Risk Management, 2(2), 159-177. |
Abstract: | Small-and-medium size enterprises (SMES) are considered to be a key to economic development, and market completion. Small businesses are also a crucial source of innovative potential and job creation. In the aftermath of the recent economic crisis many countries experience high unemployment rates. A strong small business sector can provide employment opportunities and contribute to economic growth and speedy recovery. Though the creation of small firms and self-employment is ostensibly encouraged in formal government policies, in practice small businesses are affected by multitude of barriers, both formal and informal. This study explores the relationship between the level of formal barriers such as taxation, accounting requirements as well as other relevant regulations, and the likelihood of small business creation and survival in Lithuania. It uses statistical data, legal documents, and experts’ evaluations to determine the regulatory burden experienced by small businesses. The results of the research indicate that regulatory requirements are significant factors in small business formation and performance. Findings of the paper contribute to a better understanding of how entrepreneurship happens and how policy makers could shape their policies to effectively encourage small business formation and sustain their operations medium and long-term. |
URI: | https://www.um.edu.mt/library/oar/handle/123456789/66046 |
ISSN: | 2757-0983 |
Appears in Collections: | JCGIRM, Volume 2, Issue 2, 2015 (Special issue) |
Files in This Item:
File | Description | Size | Format | |
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JCGIRM2(2)A8.pdf | 263.88 kB | Adobe PDF | View/Open |
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