THE LEVEL OF DEVELOPMENT AND SIGNIFICANCE OF ENTREPRENEURSHIP AND SMES IN SERBIA AND SELECTED EU COUNTRIES FROM THE REGION (original) (raw)

Entrepreneurial Framework Conditions for the SME Development in Serbia

2010

The SME development in Serbia, like in the most of the Western Balkans countries, shows a significant improvement. Serbia has adopted the SME development policy which is in accordance with the EU policies and is actively engaged on improvement of the business environment in order to foster the SME further expansion. It has moved from the phase of formulating policy and defining strategic objectives to implementing policy, particularly in the field of start-ups, provision of business services and dissemination of information. Analysis of the current framework conditions for the SME sector, and its role and significance, demonstrate considerable enhancements in transition period. However, SMEs in Serbia still face numerous problems, that this sector encounters in its business operating. The analysis of business environment for SMEs in Serbia has been performed through consideration of poll survey Global Entrepreneurship Monitor (GEM) as well as annual reports "SME Policy Index 2007" and "SME Policy Index 2009" which show realized progress in application of the European Charter for Small Enterprises in the Western Balkans with special emphasis on Serbia. The most important findings in the paper suggest that, despite realized progress, business environment in Serbia is still under-stimulating for SMEs development due to certain limitations of legal, procedural and financial nature, whereby defined recommendations for improvement of framework for business operating of SMEs in Serbia have been formulated.

Development of Small and Medium Enterprises in Serbia for the Period 2015−2020. Years

Journal of process management and new technologies

The sector of small, medium enterprises and entrepreneurs has an important role in economic development of all countries. In recent years, they have become carriers of economic growth, regardless these are countries with developed economies, developing countries or countries in transition. These businesses entities contribute to increasing dynamics of the economy and improving its competitiveness. Their basic role in the economic system is to solve the problem related to low economic activity, low innovation, low level of competitiveness, unequal distribution of wealth and income, as well as high unemployment rate through the creation of new jobs. In Serbia, they also represent an important economic factor of development. Given that, they have the potential for further growth and development, this paper is about analysis of the development of the entrepreneurial sector in Serbia and neighboring countries, with special reference to the period from 2015 to 2020 years. The sector of sm...

DEVELOPMENT OF SMEs SECTOR IN THE WESTERN BALKAN COUNTRIES

ABSTRACT The shortage of large markets caused further fragmentation of markets to which SMEs entered successfully with their innovative and entrepreneurial abilities. The large enterprises faced stagnations, while the small and medium (SMEs) enterprises experienced a real economic boom. The fact is that, due to their features, SMEs are finding profitable business in the quickest way, organizing the necessary activities, making their profit and taking into account the experience of the countries, which were in transition from the economic undevelopment phase to the middle development phase. That means that the most rational solution of the problem with which the Western Balkan Countries are faced is to provide organized support for establishing and development of SMEs which will be in private ownership. Through this work the authors are trying to indicate the possibilities and ways of SMEs development in the Western Balkan Countries, recalling the experience of the other countries in which the economic growth is mainly the results of the development of SMEs. Key words: Small and Medium Enterprises (SMEs), Entrepreneurship, Financial Support, Transition, Economic Growth.

How to improve entrepreneurship in the Republic of Serbia?

2017

The aim of this paper is to define whether the entrepreneurship policy is efficient enough and whether the Government of the Republic of Serbia has created preconditions for entrepreneurship development. The research is based on quantitative and qualitative analysis. The quantitative analysis covered the indicators, such as: the share of SMEs in the basic indicators of economic activity (gross domestic product, employment and gross value added), the level of profit and profit margins of SMEs, share of SMEs in foreign trade, structure of SMEs by sectors, business demography, etc. The qualitative analysis is based on the analysis of policy implementation, which could be studied through country rating by different methodologies (Doing Business list, Global Competiveness Report, Global Entrepreneurship Index). The research results showed that the biggest problem for entrepreneurs in Serbia is still an inadequate business climate and affordability of financial services. The recommendatio...

The Importance of Improving The Competitiveness of The SMEEs for Development of The Economy of Republic of Serbia / Značaj Unapređenja Konkurentnosti Sektora Mspp Za Razvoj Privrede Republike Srbije

Economic Themes, 2015

The results of numerous investigations carried out show that the sector of small and medium-sized enterprises and entrepreneurship (SMEEs) represent a significant driving force of economic development of each country and that it is a potential generator of entrepreneurial ideas and innovations. With the intensification of the process of transition after 2000, SMEEs has become a bearer of economic growth and employment and grown into the most dynamic and most efficient segment of the economy of the Republic of Serbia. However, these companies still face many problems in business which is only further underlined by the global financial and economic crisis. The low level of competitiveness of this sector in the Republic of Serbia represents an important limitation of its future development. The main competitive advantage of every modern company accented in its ability to innovate. The advantage of SMEEs, among many others, is reflected in innovation. In general, SMEEs due to their flex...

Contemporary Forms of Supporting Entrepreneurship and Investments on SMEs: The case of Polog Region in the Republic of Macedonia

Journal of Economic and Social Studies, 2016

The world economy is facing a variety of financial and economic challenges caused by different economic and political crises. Furthermore, the crises have had a negative impact that has been reflected on the macroeconomic indicators of each national economy. In these circumstances the transition economies, especially the Western Balkan countries needed to cope with the ever growing international competition, increasing unemployment, lack of private initiatives and investments, low level of economic growth and development. As a result, the attention is oriented towards SMEs, the importance of SMEs as a key pillar to sustainable growth and competitiveness on national and global market. The focus of this research is the importance of various contemporary forms which support entrepreneurship in order to increase investments, such as: business start-up centres, clusters, business incubators, economic zones and investment funds. The main objective of this research is to determine and measure the relationship between the SMEs from Polog region and contemporary institutions: business development centre (BDC) and technology park (TP) at SEE University, Enterprise Support Agency (ESA) as a private company and economic chamber of Macedonia which support private initiatives and increase their investments. In order to determine the relationship, a survey on SMEs in Polog region is conducted. The methodology used is cross tabulation two-way tables with measures of association based on data analysis from surveys and processed by STATA software. The main finding of this research is the positive impact of BDC, ESA and economic chamber on Polog region SMEs on the increase of their investments.

Analysis of the Situation and Factors for Development of SMEs in Bulgaria 2011-2012: Economic Recovery and Competitiveness

Social Science Research Network, 2013

The present analysis is an update of the publication-Analysis of the Situation and Factors for Development of SMEs in Bulgaria (SMEs in the Crisis Context)‖ made last year. The analysis for 2011-2012 has been elaborated for the purposes and needs of the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA). BSMEPA is responsible for the implementation of national policies in the area of small and medium-size enterprises. It participates in the elaboration and execution of the measures set in the annual programmes for the implementation of the National Small and Medium-size Development Promotion Strategy. The situation in the SME sector has been reviewed basically for the period 2009-2012. The standard statistical indicators of the sector, published by the NSI, have been complemented by a national representative sociological survey of the SMEs conducted in March 2012. For the purposes of the analysis, data from other sources, as well as statistics and reports concerning the SMEs in the EU, have also been used. The update includes hot topics, which are of considerable importance for the economic recovery and sustainability of the SME sector. The time period covered by the analysis coincides with the recovery of the world and European economies from the financial and economic crisis. Therefore, the economic recovery of Bulgarian SMEs today, and their competitiveness stand in the main focus of the document. The analysis also contains one new topic related to the issue of sustainability of the SME sector, more specifically the issue of family business inheritance. Among the main questions whose answers the analysis seeks to find are:-What happens with the SME sector today?- ,-Which are the enterprises that manage to recover from the crisis?- ,-Which are the factors for development and competitiveness that are of the greatest importance to the successful economic performance of the Bulgarian SMEs today?-, etc. The answers to those questions could facilitate the process of formulation of adequate policies to stimulate the SME sector in the medium and long run.

SMEs and Entrepreneurship Development and Institutional Support in Republic of Srpska (Bosnia and Herzegovina)

Entrepreneurship in the Balkans, 2013

The economy of Bosnia and Herzegovina and the Republic of Srpska (RS) in the last decade, from 2001 to 2010, according to official statistics, has recorded a significant economic growth. Between 2001 and 2010 GDP in the RS has almost tripled, from 1,478,000 € to 4,250,000 €, respectively (Republic of Srpska Institute of Statistics 2011). This growth is due to the growth of the sector of small and medium-sized enterprises (SMEs) that, in the period between 2006 and 2008, has recorded a growth of SMEs of 8.41 %. The growth has continued in 2009. Out of 14,321 companies, only 55 or 0.38 % were large enterprises. However, in 2010, according to APIF data, 9,472 companies have submitted their required financial reports for the year 2009. Comparing this number with the data from 2009, the question is what happened with other companies? Have they ceased to do business or simply have not fulfilled their legal obligation?

Internal and External Obstacles to the Development of SMEs in Bosnia and Herzegovina

Abstract This article describes the small and medium enterprise (SME) sectors in Bosnia and Herzegovina (BiH) and other Western Balkan countries, and compares their development. The authors identify the levels of evelopment achieved, remedial measures and activities for stimulating this sector. There is special emphasis on external and internal obstacles to small and medium-sized manufacturing enterprises in BiH. The authors conclude that in respect to SMEs BiH lags behind other countries in the region, where this sector has achieved dynamic development and a majority share in the employment market, exports and GDP. That said, there remains a need across the whole region to resolve obstacles in the domestic market, alongside initiating intensive activities aimed at introducing Zijad Džafić Faculty of Economics, University of Tuzla, Bosnia and Herzegovina zijad.dzafic@untz.ba Sejfudin Zahirović Faculty of Economics, University of Tuzla, Bosnia and Herzegovina sejfudin.zahirovic@untz.ba Jasmina Okičić Faculty of Economics, University of Tuzla, Bosnia and Herzegovina jasmina.okicic@untz.ba Amra Kožarić Faculty of Economics, University of Tuzla, Bosnia and Herzegovina amra.kozaric@untz.ba CroEconSur Vol. 13 No. 1 April 2011 pp. 143-171 Received: November 01, 2010 Accepted: January 11, 2011 Preliminary Communication 144 Zijad Džafić, Sejfudin Zahirović, Jasmina Okičić and Amra Kožarić Internal and External Obstacles to the Development of SMEs in Bosnia and Herzegovina Croatian Economic Survey : Vol. 13 : No. 1 : April 2011 : pp. 143-171 the SMEs to the Single European Market. For BiH, primary research has been carried out to determine the external and internal obstacles to SMEs in the country’s manufacturing sector. The key obstacles are identified, their intensity and grade determined, and they are classified into three groups. Factor analysis was used in determining six factors explaining external obstacles and two factors for internal obstacles. It has also been confirmed that other companies apart from manufacturing SMEs face broadly similar external obstacles, and that these obstacles are more in evidence when compared to the situation in other Western Balkan countries.