Assessing the Risk of Leveraging Technology in Small Businesses Entering the European Union

Abstract

Small businesses (SB's) with less than 50 employees contribute significantly to the gross national product of transition economy countries in European Union (EU) nations where they account for 99% of all businesses. The EU is recognized as a strong effective fluid international trade system of 28 members and seven applicant countries in the process of integrating. The key advantages of joining the EU include untaxed cross-border product/service trade, better social systems, and improved economic stability. There are seven countries in a high-risk situation of attempting to join the EU. The highest risk these seven countries face is to leverage technology to facilitate the increasing demands of regulation administration and commerce imposed by EU standards. The purpose of this study is to examine the ability of SB's in an integration EU country to overcome risk by leveraging technology. The authors use SB's in Albania as a national case study population.