Small and medium-sized enterprises in global value chains
Small and medium-sized enterprises in global value chains

Summary/Abstract: This article is dedicated to possibilities and importance of SMEs’ involvement in global value chains (GVCs). The purpose of this paper is to identify the position of SMEs and their opportunities in GVCs in the context of development processes taking place in GVCs and the world economy. To meet the objectives of the research, the authors formulated the following questions; "What is the state of the art of GVCs issues in literature in the context of international economic relations and efficiency?", "What are the positions, potential and opportunities for SMEs in GVCs?", "What solutions would contribute to more effective functioning of GVCs in the overall productive process?". The theoretical part of the paper points out that the nature and impact of GVCs on various aspects of economic processes can be examined from different perspectives. In the analytical part, attention is paid to small and medium-sized enterprises in the EU and GVCs concerning the next issues: determinants of businesses participation in GVCs; perceived benefits of SMEs’ participation in GVCs; advantages of SMEs’ participation in GVCs; importance of SMEs for economic progress and their participation in GVCs. The main results and discussion are related to the following areas: steps to improve functioning of GVCs in the overall productive process and implementation of recommendations for future government support for SMEs’ internationalising. In conclusion, the authors of the article mentioned and summarised issues and topics for further research in the area of GVCs, namely: competitiveness, trade, services, investment, economic development, as well as adaptation and risk areas of GVCs.

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