Description
Title: Business Promotions for Regional Development
Abstract: The main objective of local development policies is to promote economic growth by fostering a favorable business climate and new employment opportunities. Because entrepreneurship contributes to an increase in the supply of goods, an increase in citizens’ income, and an increase in the revenue for local budgets, creating a favorable business environment to act as a pull factor for new businesses is of utmost importance. Therefore, the main objectives of economic development in Croatian towns and municipalities are examined in this paper, along with the strategies local governments employ to promote entrepreneurship and new businesses. Mayors and deputy mayors of towns and municipalities were polled using a questionnaire; the sample included 131 towns and municipalities. The Kruskal-Wallis test and a descriptive analysis were both used in the research methodology. According to the findings, the most crucial objectives of economic development were determined to be raising resident quality of life, producing new jobs, and keeping residents in the town or municipality. Towns and municipalities most frequently streamline regulations, lower local taxes, and implement a variety of benefits and incentives to promote entrepreneurship and new jobs. The paper’s contribution can be seen in the practical advice it offers to local governments for enhancing the business climate.
Keywords: local economic development; entrepreneurship; business environment; business incentives; residents’ quality of life; Croatia
Paper Quality: SCOPUS / Web of Science Level Research Paper
Subject: Economics
Writer Experience: 20+ Years
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