Abstract
How has the small business sector, a key dimension of the transformation process in eastern Europe, developed in the Yugoslav successor states of Slovenia, Croatia, FRY (Serbia-Montenegro) and FYR of Macedonia ? Though starting from a common background, this sector has developed differently in each country depending on economic policies, the impact of war, and the activities of both international donor organizations and financial institutions. Economic policy has provided the most support to small businesses in Slovenia, where growth was sustained for the longest time. International donor organizations have actively supported small businesses in Croatia and Macedonia, neither of which has yet implemented a consistent small business policy. In the FRY, neither domestic nor international support has been forthcoming, but the informal sector (the grey economy) has provided momentum in an otherwise hostile environment. The impact of these various factors on the development and growth of small businesses is examined. Questions are also asked about how differences in economic policies and democratization have affected the transformation processs in this respect.
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