Author(s):
1. Mirela Omerović, Federation of Bosnia and Herzegovina , Bosnia and Herzegovina

Abstract:
Focus of this paper are high growth enterprises which attached considerable attention from policy makers from whole world, which is result of their positive effect on national wealth and job creation. OECD defines high-growth enterprises as firms with average annual growth in employees or in turnover greater than 20% a year over a three-year period, and with ten or more employees at the beginning of the observation period. Enterprises that fulfill these requirements and which operate less than five years are named „gazelles“. High-growth enterprises are rare, but number and share of jobs that those enterprise create is large. There is a wide acknowledgement on importance of defining and implementing the appropriate polices that would foster further operations of high growth enterprises, which is also a case for Europe and European Union. A number of highly respected and honorable European experts concluded that there is a high-priority need for European-wide dedicated framework that addresses the high-growth, or gazelle phenomenon [Europe Innova Gazelles Panel Summary Report, 2008]. Evident is a lack of representative, large-scale, longitudinal micro-level datasets for research purposes. However, the world’s largest academic and research project from the field of entrepreneurship the Global Entrepreneurship Monitor - GEM provided its contribution to analysis of high growth enterprises. This paper contains authors’ overview of the main GEM results related to this topic. High-growth enterprises are important for all countries, especially for developing countries like Bosnia and Herzegovina, since those enterprises have above average impact on new jobs creation, wealth creation and the development of entrepreneurial role models. It is of crucial importance for governments in Bosnia and Herzegovina to identify and support high growth enterprises in order to foster economic development of the country. Taking in consideration above mentioned, authors of the paper present developed methodology for identification of high growth enterprises – „gazelles“ implemented on territory of Federation of Bosnia and Herzegovina. Willing to make contribution in this field, this paper contains proposed methodology for identification of gazelles for territory of Bosnia and Herzegovina, which implementation would contribute to creation of adequate incentives for support to those enterprises. Proposed methodology is defined on basis of EU good practices and good practices from countries from the region related to this field. Paper finishes with recommendations for policy actions aimed at further development of high growth enterprises in Bosnia and Herzegovina and their greater impact on reduction of unemployment and economic development of the country.

Key words:
economic development, entrepreneurship policies, high growth enterprises

Date of abstract submission:
05.06.2012.

Number of visits:
575

Conference:
REDETE 2012

Applied paper from author