Volume 1 Cedric - revised luca Final - RUIG-GIAN

Note on key lexical issuesThe new Republic emerging from the implosion of the Socialist Federal Republic ofYugoslavia, declared independence in 1991 under the denomination “Republic ofMacedonia”, but official protestation by Greece deterred international recognition of thenew country under this denomination. In 1993 a compromise was struck as the UNrecognized the state under the name of ‘the Former Yugoslav Republic of Macedonia’(FYROM). By 2005, more than 20 countries recognized the country by its constitutionalname - the Republic of Macedonia. This study will use the denominations of FYROM andRepublic of Macedonia (or Macedonia) undifferentiatedly.The definition of Small to Medium-sized Enterprises (SMEs) is primarily based onthe size of their workforce, and may also be related to their turnover. The workforce andturnover ceilings characterizing SMEs vary considerably according to the country. For thepurpose of this study, reference will be made to the classification applied in the Republicof Macedonia. A ‘Small enterprise’, therefore, is an establishment that falls under thefollowing two characteristics: it employs less than 50 employees for either maximummonthly turnover of 8,000 Macedonian Dinar (MD) or balance sheet total of 6,000 MD permonth. While there is no official definition of medium-sized enterprises in the country, theUnited Nations Economic Commission for Europe (UNECE) defines small enterprises andmedium enterprises in Central and Eastern European countries as those employing between1 to 49 workers and 50 to 250 workers respectively. 9191 UNECE: http://www.unece.org/indust/sme/def-cit.htm104