Heritage and Sustainable Development ISSN 2712-0554 Vol. 2, No. 2, August 2020, pp.89-99 https://doi.org/10.37868/hsd.v2i2.29 89 Performance analysis of B2B and B2C companies in Northern Macedonia and Serbia Vedat Asipi, Benjamin Duraković* Industrial Engineering, International University of Sarajevo, Bosnia *Corresponding author: bdurakovic@ius.edu.ba © The Author(s) 2020. Published by ARDA. Abstract The purpose of this paper is to analyze and compare two different business models called business to business and business to consumer. The first model -business to business or B2B is defined as the transfer of goods and services between businesses or firms without interference of consumer. The second model, business to consumer or B2C is customer oriented in which the goods and services are sold immediately to customers in the market. This research focuses on the performance of these two business models in North Macedonia and Serbia. Our analysis tries to provide information regarding the countries’ development on different sectors within B2B and B2C models that are affected by specific indicators such as net salaries, total employment level, investment and exports, and research&innovation. Furthermore, besides analysis of these indicators separately for each country, the paper will show the results and compare the performance differences among listed developing countries. Keywords: B2B, B2C, Innovation, Net salaries, Total employment, Investment, Exports Abbreviations AGRI Agriculture B2B Business-to-Business B2C Business-to-Customer MIN Mining MFG Manufacturing NRG Electricity CNSTR Construction OEC Observatory of Economic Complexity EPIK European Policy Institute of Kosovo 1 Introduction In today’s business world firms have to face with a dynamic market, but not just only that, they have to know what is the right business model that will affect the performance at the end of the day. With the use technology, companies realized that it is necessary to have an innovative business model in order to have better interaction with the customers [1].