LEADERSHIP OF FORMAL AND INFORMAL BUSINESS BY WOMEN: COMPARATIVE ANALYSIS FOR POLLOG REGION

The Republic of North Macedonia is still in the transition phase. Entrepreneurship and the creation of small and medium-sized businesses play a key role in creating new jobs, opening the way to the free market of the European economy, sustainable development and economic growth. The labor market in the country is characterized by high and long-term unemployment rates. The high level of unemployment is one of the main macroeconomic problems. Based on the official data published by the State Statistical Office on labor force, the purpose of this paper is to analyze the skills of entrepreneurial women, the differences that exist in running a formal and informal business, in the present case, in the Polog Region for the period of time (2011-2019). Although entrepreneurship is still under development, because even the few businesses run by women, still men are behind them. In Polog, women and men have no equal economic power as supposed to developed countries where women make various social revolutions and contribute constantly to their improvement. The paper concludes that in the case of Polog Region, women face financial difficulties, lack of experience, low level of education, and lack of adequate training to cope with management difficulties by utilizing the opportunities and capacities they have.