Ivana Vucetic – Innovation Centre of the Faculty of Mechanical Engineering in Belgrade, Kraljice Marije 16, Belgrade, Serbia

Snezana Kirin – Innovation Centre of the Faculty of Mechanical Engineering in Belgrade, Kraljice Marije 16, Belgrade, Serbia

Sanja Popovic-Pantic – Institute Mihajlo Pupin, Volgina 15, Belgrade, Serbia

Keywords:                       Female entrepreneurship;
Female education;
Sustainable development

DOI: https://doi.org/10.31410/ERAZ.S.P.2023.135

Abstract: The business world is rapidly changing adopting new technol­ogies and business models. It affects entrepreneurship, which is one of the most important factors of sustainable development. In recent years, the im­portance of female entrepreneurship has increased, because more and more women have started to get involved in entrepreneurial activities. Among the main factors influencing female entrepreneurship are education, which gives women the knowledge to succeed as entrepreneurs, and finance, which en­ables women to start their businesses. In order for entrepreneurship to be suc­cessful, it is of great importance to constantly improve business, which im­plies constant investment in education and training, and stable income as the source of further investment in business growth. This paper aims to investi­gate the importance of female education for successful female entrepreneur­ship and sustainable development in Serbia, by examining the correlation be­tween the education level and: the annual income, and the investment in life­long learning.

9th International Scientific ERAZ Conference – ERAZ 2023 – Selected Papers: KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT, hybrid – online, virtually and in person, Prague, Czech Republic, June 1, 2023

ERAZ Selected Papers published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia

ERAZ conference partners: Faculty of Logistics, University of Maribor, Maribor (Slovenia); University of National and World Economy – UNWE, Sofia (Bulgaria); Center for Political Research and Documentation (KEPET), Research Laboratory of the Department of Political Science of University of Crete (Greece); Institute of Public Finance – Zagreb (Croatia); Faculty of Tourism and Hospitality Ohrid, University of St. Kliment Ohridski from Bitola (North Macedonia)

ERAZ Conference 2023 Selected Papers: ISBN 978-86-80194-73-8, ISSN 2683-5568, DOI: https://doi.org/10.31410/ERAZ.S.P.2023

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission. 

Suggested citation

Vucetic, I., Kirin, S., & Popovic-Pantic, S. (2023). Female Education and Entrepreneurship in the Service of Sustainable Development in Serbia. In V. Bevanda (Ed.), ERAZ Conference – Knowlegde Based Sustainable Development: Vol 9. Selected Papers (pp. 135-145). Association of Economists and Managers of the Balkans. https://doi.org/10.31410/ERAZ.S.P.2023.135


Allahar, H. (2015). Female Entrepreneurship: The Experience of Latin America and the Carib­bean. European academic research, 2(10), 12739-12762.

Babović, D., & Kočović De Santo, M. (2023). Female Entrepreneurship in the Creative Econo­my. JWEE, 109-127. https://doi.org/10.28934/jwee23.pp109-127

Babović, M., Vladisavljević, M., Vukotić, O., Stević, M., Obradović, J., Velković, T., & Čvorić, J. (2022). Preduzetništvo žena u Srbiji – deset godina kasnije. Srbija: UN Women.

Bühler, M., Vollmer, L., & Wimmer, J. (2023). Female education and social change. Journal of Economic Growth. https://doi.org/10.1007/s10887-023-09232-w

Cesaroni, F. M., & Paoloni, P. (2016). Are family ties an opportunity or an obstacle for women entrepreneurs? Empirical evidence from Italy. Palgrave Communications, 2(1). https://doi.org/10.1057/palcomms.2016.88

Coronel-Pangol, K., Paule-Vianez, J., & Orden-Cruz, C. (2023). Conventional or alternative fi­nancing to promote entrepreneurship? An analysis of female and male entrepreneurship in developed and developing countries. International Entrepreneurship and Management Journal. https://doi.org/10.1007/s11365-023-00906-w

Deng, W., Liang, Q., Li, J., & Wang, W. (2021). Science mapping: a bibliometric analysis of fe­male entrepreneurship studies. Gender in Management: An International Journal, 36(1), 61-86. https://doi.org/10.1108/gm-12-2019-0240

Deshpande, A. (2021). Women entrepreneurship: second inning at career. Shodh Sarita Jour­nal, 8(29), 93-97.

Ebrahimi, R., Choobchian, S., Farhadian, H., Goli, I., Farmandeh, E., & Azadi, H. (2022). Inves­tigating the effect of vocational education and training on rural women’s empowerment Humanities and Social Sciences Communications, 9(1). https://doi.org/10.1057/s41599-022-01187-4

Ferigra Stefanovic, A. (2021). EU gender country profile for Serbia. Retrieved from https://www.rodnaravnopravnost.gov.rs/sites/default/files/202111/EU%20Gender%20Coun­try%20Profile%20for%20Serbia.pdf 

Gawel, A. (2013). Female entrepreneurship in Poland. Economics and Business Review, 13(1), 115-130. https://doi.org/10.18559/ebr.2013.1.817 

Gawel, A. (2021). The Gender-based attainment of education and female entrepreneurship: The European Perspective. Entrepreneurship and Sustainability Issues, 8(4), 403-417. https://doi.org/10.9770/jesi.2021.8.4(24)  

Kannappan, S. (2022). Promoting Women Entrepreneurship: A Systematic Review On The Challenges. Webology, 19(2), 1792-1806.

Keric, C. (2017). Power of Procurement: How To Source From Women-Owned Businesses Cor­porate – Guide to Gender – Responsive Procurement. New York, New York: UN Women.

Khajuria, N. (2021). Development of Women Entrepreneurship in India. International Jour­nal for Research in Engineering Application & Management, 6(10), 206-212. https://doi.org/10.35291/2454-9150.2021.0034  

Khyareh, M. M. (2018). Determinants of female entrepreneurship in Iran: An institutional ap­proach. Ekonomski anali, 63(216), 111-129. https://doi.org/10.2298/eka1816111k 

Martinez Cerda, L., & Sanchez Macias, A. (2022). Mexican Female Entrepreneurship: What is missing? A Glance to Women Entrepreneurship Hardships. National Social Science Jour­nal, 72(243), 63-70.

Mashapure, R., Madzimure, G. P. K., Msipah, N., Dandira, M., & Kandjinga, E. (2021). Women Entrepreneurship and Sustainable Rural Livelihoods. International Journal of Research and Scientific Innovation (IJRSI), 8(2), 64-73.

Mukhtar, D. (2022). Institutional Theory in Woman Entrepreneurship. The Seybold Report Jour­nal, 17(8), 1794-1800.  https://doi.org/10.5281/zenodo.7031187 

Popović-Pantić, S. (2014). An analysis of female entrepreneurship and innovation in Serbia in the context of EU competitiveness. Ekonomski Anali, 59(200), 61-90. https://doi.org/10.2298/EKA1400061P 

Popović-Pantić, S., Kirin, S., & Vučetić, I. (2023). The Sustainability Analysis of Women-owned Businesses Examined Through the Impact of Selected Variables on Dimensions of In­novation Capacity. Journal of Women’s Entrepreneurship and Education, Special issue “Strengthening opportunities and solutions for women entrepreneurs in Asia and Eu­rope”, 128-148. https://doi.org/10.28934/jwee23.pp128-145 

Popović-Pantić, S., Semenčenko, D., & Vasilić, N. (2020). Digital technologies and the finan­cial performance of female SMEs in Serbia: The mediating role of innovation. Ekonomski Anali, 65(224), 53-81. https://doi.org/10.2298/EKA2024053P 

Popović-Pantić, S., Semenčenko, D., & Vasilić, N. (2022). Economic Inclusion of Women Entre­preneurs During Covid-19 in Serbia, Montenegro and Bosnia and Herzegovina. In: Bart­lett, W., Uvalić, M. (Eds.) Towards Economic Inclusion in the Western Balkans. New Per­spectives on South-East Europe (pp. 249-277). Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-031-06112-7_11  

Pruett, M. (2023). Confidence and Character: The Future of Women’s Entrepreneurship Educa­tion? Journal of Women’s Entrepreneurship and Education, Special issue, 1-15. https://doi.org/10.28934/jwee23.pp1-15  

Radović Marković, M., Lindgren, C., Grozdanic, R., Markovic, D., & Salamzadeh, A. (2012, Oc­tober 8-9). Freedom, Individuality and Women’s Entrepreneurship Education [Conference presentation]. Entrepreneurship Education – A Priority for the Higher Education Institu­tions, Bucharest, Romania. https://ssrn.com/abstract=2164216 

Radović Marković, M., Nikitović, Z., Somborac, B., Penjišević, A., & Vujičić, S. (2022). Inte­gration of Gender Aspects into Development of Knowledge Management System in The Entrepreneurial Organizations in Serbia. JWEE(1-2), 154-169. https://doi.org/10.28934/jwee22.12.pp154-169 

Raman, R., Subramaniam, N., Nair, V. K., Shivdas, A., Achuthan, K., & Nedungadi, P. (2022). Women Entrepreneurship and Sustainable Development: Bibliometric Analysis and Emerging Research Trends. Sustainability, 14(15), 9160. https://doi.org/10.3390/su14159160 

SEECEL. (2014). Women Entrepreneurs Indicators: Developing 2nd generation, South East Eu­ropean Centre for Entrepreneurial Learning, Zagreb.

Skelton, C. (1993). Women and Education. Introducing Women’s Studies, 324-349. https://doi.org/10.1007/978-1-349-22595-8_14 

Stanković, S., Vujičić, S., & Radović-Marković, M. (2023). Using Structural Equation Mode­ling in the Analysis of the Relationship Between Internal and External Factors and Women Entrepreneurs’ Success. JWEE(1-2), 167-187. https://doi.org/10.28934/jwee23.12.pp167-187 

Stošić, D. (2016). Aspects of the business success important to female entrepreneurs in urban areas of the Republic of Serbia: A pilot study. Ekonomski Anali, 61(208), 121-136. https://doi.org/10.2298/eka1608121s  

Tominc, P., & Rebernik, M. (2006). Significantly different – yet alike: Male and female ear­ly-stage entrepreneurship in three European post-socialist countries. Društvena is­traživanja, 16(3), 426-443.

Tovmasyan, G. (2022). Promoting female entrepreneurship in tourism for sustainable devel­opment. Marketing and Management of Innovations, 1(1), 18-36. https://doi.org/10.21272/mmi.2022.1-02 

Vučetić, I., & Kirin, S. (2022). Innovation capacities as the key to survival – a case study in Serbia. Balkans Journal of Emerging Trends in Social Sciences, 5(2), 115-124.  https://doi.org/10.31410/Balkans.JETSS.2022.5.2.115-124