Designing and creating a business model is crucial for a successful firm’s operation in today’s market in a complex and changing environment. A business model is the factor that differentiates one firm from another—it defines the distinctions of the firm, how the firm deals with the competition, the firms’ partnerships, and customer relations. This paper explores the role of the business model in the creation of sustainable competitive advantage. The empirical part of the paper presents the business model of three small companies from the Information and Communications Technology (ICT) industry in Croatia using the Business Model Canvas. Additionally, business model components were also analyzed using a framework for evaluating a business model. The results of the analysis point to a few crucial components of the business model, on which small ICT firms in Croatia build their competitive advantage by creating significant distinctions of those components. These distinctions are essential for their longevity and sustainability.

Internationalization of small and medium enterprises is a specific process, which enables growth and development. However, internationalization brings both opportunities and challenges that SMEs do not always know how to deal with. The aim of this paper is to identify activities and challenges in the internationalization of small and medium enterprises in Croatia, as well as measures that could facilitate this process. In order to obtain these findings, the Flash Eurobarometer 421: Internationalisation of SMEs database was used as a secondary data source. Data were collected from the study which has been conducted by the European Commission. The paper analyzed 501 companies from Croatia, and dependence was sought between company and industry size and activities, challenges and assistance measures for internationalization. It has been proven that there are differences in relation to the size of the company, as well as to the industry. Based on the conducted statistical analyses it is shown that internationalized SMEs from Croatia still base this internationalization on imports and exports of goods and services and other international business activities are less developed. There is a noticeable advantage of the European Union market as the primary choice of Croatian companies for internationalization. Recommendations for SMEs focus on the better understanding of the internationalization process and proper preparation, while policy recommendations are oriented towards raising awareness of the importance of internationalization and providing an enabling ecosystem for internationalization.

Given their role and importance, small and medium-sized enterprises (SMEs) are the driving force in many economies. Researching their specificities is a basis for understanding their needs and possible levers that would enable their growth and development. The internationalisation of SMEs is a different process from the internationalisation of large companies and it is necessary to understand the specificities of this process. This paper reviews the literature in order to summarise the existing knowledge on the process of internationalisation of small and medium-sized enterprises. The aim of this paper is to provide a conceptual framework that offers a comprehensive overview of various important aspects of the internationalisation process. The proposed framework explains factors, barriers and possible approaches to SME internationalisation and provides guidance for future empirical research.

Small and medium-sized enterprises (SMEs) gain a competitive advantage through continuous innovation, which is crucial for their competitiveness on the market and their internationalization. By offering more valuable goods and services than their competitors, SMEs can thrive despite their different starting position compared to large companies. The dynamic competitive environment and changing customer preferences require constant innovation in products and services. This innovation is essential for long-term sustainability, growth and international competitiveness. Research shows that innovative SMEs are more successful in international markets. Innovation and internationalization are complementary processes that drive the growth and development of a company. Access to foreign resources, knowledge and capital increases competitiveness and mitigates weaknesses. The study uses qualitative research, including in-depth interviews with Croatian manufacturing SMEs, to investigate the role of innovation in internationalization. The results confirm that innovation is a key driver of competitiveness and successful market entry.

Purpose : The article analyses the motivation and main characteristics of self-employed women, focusing on the situation in the Republic of Croatia. The aim is to identify the specificities of female entrepreneurship, understand the motivational factors that encourage women to become self-employed and examine the challenges they face in order to create support for their further development and strengthen the entrepreneurial ecosystem. Methodology : A qualitative methodology was used, starting with data collection through semi-structured interviews with three self-employed women entrepreneurs in Croatia. The interviews focused on the motivational factors for starting an entrepreneurial activity and the personal characteristics of the interviewees. The collected data were analysed using descriptive analysis and the responses were interpreted using thematic analysis to gain insight into the experiences and attitudes of interviewees. Results: The results show that women in Croatia are motivated by the desire for independence, autonomy, creativity, and the desire to create new value, rather than the direct need for income. Respondents emphasise the importance of family and community support, but also challenges such as social and cultural norms and the need to balance work and family responsibilities. Conclusion: The study confirms that the motivational factors and characteristics of female entrepreneurs are more complex than the common stereotypes and that they are the key to success in entrepreneurship. Understanding the specificities of female entrepreneurship is crucial for developing the entrepreneurial environment and promoting greater equality and economic growth.