The Role of Public and Private Financial Support in Fostering Entrepreneurial Business in Underdeveloped Balkan Countries Compared to Developed Western Countries

The thesis presents an analysis of the role of public and private financial support in encouraging entrepreneurship as a comparison of underdeveloped Balkan countries and developed Western countries. Considering that financial support is a key to success especially when it comes to startups, this study should show how different support systems can influence entrepreneurial growth, then scalability and sustainability. The research within the paper focuses on the analysis of accessibility, effectiveness and barriers related to public financing, which include grants, loans, subsidies, etc. and private investment - venture capital, angel investors and crowdfunding in both researched regions. In the course of the research, a comparative approach is used, which allows to know the differences in the financial support structures, a case from the Balkan and Western countries. Government publications, financial institutions and entrepreneurial case studies are considered key sources of information. Western countries are far ahead in this issue, in contrast to Balkan entrepreneurs who really face limited means of financing, bureaucratic restrictions and weak investment opportunities. The study ultimately recommends certain strategies that will enable the Balkan region to create an environment conducive to entrepreneurship that will enable economic growth and regional development. This research provides policy makers, investors and entrepreneurs with opportunities and ways to encourage entrepreneurship in economically geographically diverse areas.