The readiness of Latvian micro and small enterprises (MSe) for globalization

¹ Latvia, Public Administration, Turiba University; 0037129276170
² Latvia, Turiba University, 0037126408253
³ Latvia, Turiba University, 0037126306922

Abstract

Based on the criteria set out in Annex 1 of the European Commission (EC) Regulation No.800 / 2008 and official data, about 99% would be in the category of small and medium-sized enterprises (SMEs). In Latvia, the breakdown of economically active SMEs by the Ministry of Economics is: micro enterprises 90%, small enterprises 9%, medium enterprises 1%. The European Commission believes that it is SMEs and entrepreneurship that are key to ensuring economic growth, innovation, job creation and social inclusion in the European Union. However, globalization is one of the ways micro and small businesses can go beyond national territories to expand their business to succeed. The aim of the study is to analyze the types of activity in which micro and small enterprises in Latvia operate for 5 years and to analyze the level of potential readiness of globalization. Quantitative research is based on official business data from several sources Enterprise Register, Ministry of Economics, Re-Identifier of the Register of Enterprises Ltd. “Lursoft”, Central Statistical Bureau. The study will review data on the last 5 years by analyzing data for 2013-2017. The following research methods have been used for the research: quantitative data research approach, analytical study comparing data for five years and graphical method visualization and analysis of visual information.