Small and medium-sized firms' competitiveness and territorial characteristics/assets: The cases of Bari, Varna and Thessaloniki

The paper investigates the importance of territorial characteristics/assets (i.e. agglomeration economies, urban infrastructure, factors of labor and cost, development policies, qualitative factors, inter alia) on small- and medium-sized firms’ competitiveness. The analysis uses primary data from 374 small- and medium-sized firms located in Bari (Italy), Varna (Bulgaria) and Thessaloniki (Greece). These firms operate in the sectors of industry, commerce and services. Through the use of exploratory factor analysis and econometric analysis, the importance of particular factors for the competitiveness of firms has been analyzed, coming out in valuable conclusions not only for the firms and the areas considered but also for firms and areas with similar characteristics.