• citations in SCIndeks: [1]
  • citations in CrossRef:[1]
  • citations in Google Scholar:[]
  • visits in previous 30 days:10
  • full-text downloads in 30 days:5


article: 5 from 9  
Back back to result list
2017, vol. 45, iss. 4, pp. 93-112
Financial and business advisory services for small and medium enterprises and entrepreneurs in agribusiness in Serbia
aSchool of Business, Novi Sad
bODS EPS Distribucija, Novi Sad
Keywords: SMEE; agribusiness; financing; loans; business advisory services
Small and Medium-sized Enterprises and Entrepreneurs (SMEE), as a Sector, can take on a major role in agricultural development of the Republic of Serbia. However, in order to develop these enterprises, it is necessary to provide financial resources for their establishment and development, as well as appropriate business advisory support. This paper analyzes the issues regarding agribusiness companies financing, and interprets the use of advisory services. The aim of this analysis is to prove that small and medium-sized enterprises, entrepreneurs and farmers in particular, have limited access to financing and advisory services compared to larger companies. A survey that included 119 companies was conducted during this project. The obtained responses were stratified according to company size into three groups: entrepreneurs and farmers, small and medium-sized enterprises and large enterprises. The results showed that there were statistically significant differences between entrepreneurs and farmers, small, medium and large enterprises in most of the monitored parameters.
*** (2010) Law on performing advisory and extension activities in agriculture. Official Gazette of RS, 30
*** (2015) Support strategy for SMEE development and competitiveness for 2015 to 2020 period. Official Gazette of RS, 35
Ayyagari, M., Demirgüç-Kunt, A., Maksimovic, V. (2008) How Important Are Financing Constraints? The Role of Finance in the Business Environment. World Bank Economic Review, 22(3): 483-516
Bygrave, W., Zacharakis, A. (2004) The portable MBA in Entrepreneurship. USA: John Wiley & Sons, Inc, 3rd ed
Cassar, G., Holmes, S. (2003) Capital structure and financing of SMEs: Australian evidence. Accounting and Finance, 43(2): 123-147
Cassu, B., Girardone, C., Molyneux, P. (2006) Introduction to banking. England: Pearson Education Limited
Ciaian, P., Pokrivcak, J., Szegenyova, K. (2011) Do agricultural subsidies crowdout or stimulate rural credit market institutions?. in: The Case of CAP Payments: AAEA and NAREA Joint Annual Meeting, Pittsburgh, USA, 1-27, available at:
Ciaian, P., Fałkowski, J., Kancs, d`Artis (2012) Access to credit, factor allocation and farm productivity. Agricultural Finance Review, 72(1): 22-47
Cvijanović, J.M., Rodica, B., Vojnović, B., Živković, M. (2013) The research on people's enterprise skills in Serbia. Industrija, vol. 41, br. 1, str. 131-140
Filipović, S., Petrović, P. (2017) How to improve entrepreneurship in the Republic of Serbia?. in: Improving Micro and Macro Competitiveness - problems and possible solutions: Thematic collection of papers of international significance, University of Niš, Faculty of Economics, 67-85
Hoflich, P. (2011) Banks at Risk, Global Best Practices in an Age of Turbulence. Singapore: John Wiley & Sons
Ljumović, I., Jakšić, K. (2015) Dostupnost finansijskih resursa preduzećima na severu Kosova. Zbornik Matice srpske za društvene nauke, br. 152, str. 557-569
Maletić, R., Ceranić, S., Popović, B. (2011) Mala i srednja preduzeća kao činioci smanjenja siromaštva u ruralnim zajednicama Srbije. Ekonomika poljoprivrede, vol. 58, br. 1, str. 121-131
Malhotra, M., Chen, Y., Criscuolo, A., Fan, Q., Hamel, I.I., Savchenko, Y. (2006) Expanding Access to Finance: Good Practices and Policies for Micro, Small, and Medium Enterprises. Washington, USA: World Bank, doi: 10.1596/978-0-8213-7177-0
Miljković, M., Filipović, S., Tanasković, S. (2013) Profitability of Serbian banking sector during global economic crisis. Industrija, vol. 41, br. 4, str. 39-57
Ministry of Economy of Republic of Serbia, Ministry of Regional Development and Local Government of Republic of Serbia, National Agency for Region Development of Republic of Serbia (2013) The report on SMEs for year 2012. Belgrade
National Agency for Regional Development (2013) Report on conditions, needs and problems of SMEs in Serbia in 2013
Popović, B. (2009) Contribution of small and medium sized enterprises in development of agribusiness of Serbian Republic. Journal of Agricultural Sciences, vol. 54, br. 1, str. 63-80
Reuvid, J. (2011) Start up & run your own business, The essential guide to planning, funding and growing your new enterprise. UK: Kogan page, 8th ed
Scarborough, N. (2012) Effective Small Business Management, An Entrepreneurial Approach. USA: Pearson Education Limited, 10th ed
Stokes, D., Wilson, N. (2010) Small Business Management and Entrepreneurship. Hampshire, England: Cengage Learning EMEA
USAID (2012) Financing the growth of small and medium enterprises: Business enabling project. Belgrade, Serbia
van Horne, J., Wachowicz, J.J.R. (2007) Osnovi finansijskog menadžmenta. Beograd, Srbija: Data status
Veselinović, B., Drobnjaković, M. (2014) Qualitative and quantitative analysis of micro and macro aspects of agricultural finance. Ekonomika poljoprivrede, vol. 61, br. 3, str. 771-787
Walraven, N., Barry, P.J. (2004) Bank risk ratings and the pricing of agricultural loans. Agricultural Finance Review, 64(2): 107-118; doi: 10.1108/00214660480001157
World Bank Group (2017) Doing business report., 25.09.2017
World Economic Forum (2017) The global competitiveness report 2016/2017., 25.09.2017


article language: English
document type: Original Scientific Paper
DOI: 10.5937/industrija45-15252
published in SCIndeks: 22/01/2018
peer review method: double-blind
Creative Commons License 4.0