Marina Gajic Glamoclija
JKP ,,Beograd put“ – Belgrade, Serbia
4th International Conference – ERAZ 2018 – KNOWLEDGE BASED SUSTAINABLE ECONOMIC DEVELOPMENT, Sofia- Bulgaria, June 7, 2018, CONFERENCE PROCEEDINGS published by: Association of Economists and Managers of the Balkans, Belgrade, Serbia; Faculty of Business Studies, Mediterranean University – Podgorica, Montenegro; University of National and World Economy – Sofia, Bulgaria; Faculty of Commercial and Business Studies – Celje, Slovenia; Faculty of Applied Management, Economics and Finance – Belgrade, Serbia, ISBN 978-86-80194-12-7
The development of small enterprises is vital for the healthy economy of each country and the development of entrepreneurship, as they provide greater business incentives, employment and income.
Not all important obstacles have been overcome for the intensive development of the SME sector, strengthening its competitiveness and innovation. In particular, this refers to high fiscal actions, unfair competition recruited from the gray economy, and often from abroad, difficult collection of receivables, inaccessibility of public procurements, monopoly in many business sectors, tax and inspection procedures, complicated, slow and expensive procedures for obtaining building and use consents and permits for connection to infrastructure networks, corruption, municipal fees, etc.
In terms of access to funding sources, significant steps have been taken recently, especially with incentive micro loans for beginners, start up loans, as well as various incentives for local communities, but funding is still at the top of the scale of the biggest problems and needs of State incentives are still relatively modest, insufficient and limited, and bank loans are too expensive and inaccessible to most of the SMEs.
No operational mechanisms have been created for the establishment of risk capital funds, there is no support for the so-called “business angels” and the practice of developing partnerships with foreign and domestic companies and cooperators is also missing.
The procedure and speed of the adoption of new legislation, the number of by-laws and administrative procedures, which are often mutually uncoordinated, unspecified and assigned to a large number of public office holders – represent a limiting factor in accelerating the growth of SME.
As a result of these occurrences, confusion and additional costs in time and capital are often confronted with most small businesses, who have a fairly limited human resources
SME, entrepreneurship; Serbia
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