(Nowy Sacz School of Business – National-Louis University, 2015) Pauli, Urban
The main goal of the article is to present the research testing a model of investment
structure in different phases of SMEs’ growth. The author assumed that the share and
structure of investments vary in accordance with the stage of the company’s growth,
and it is possible to describe the path which SMEs follow in their development. In
the study based on organizations’ growth models, demand for particular resources
in subsequent growth stages is presented. The model and investments structure is
verified on a sample of 286 SMEs.