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2015, vol. 63, iss. 3-4, pp. 205-221
Development of entrepreneurial sector as the basis for strengthening competitiveness
aMinistry of Economy, Department of Regional Development and Strategic Analyses of Economy, Belgrade
bUniveristy of Niš, Faculty of Economy
Keywords: entrepreneurial sector; business environment; investment; industrial and export competitiveness; business demography; high growth enterprises; gazelles
Abstract
The entrepreneurial sector in modern countries is the driving force of the national economy, which generates new ideas, products, and technologies. As such, it is the source and the basis of sustainable economic growth and the implementation of structural changes, as necessary parts of the development process. It is the quality that the entrepreneurial sector gives to the growth of the economy that has made this sphere the subject of a number of policies, measures, and regulations, which the most advanced countries use to acquire and/or maintain a competitive advantage over other competitors on the international, global, market. Therefore, this paper will provide a critical analysis of the position of the entrepreneurial sector in Serbia during the crisis (from 2008 to the present time), point to vulnerabilities of the sector that prevent its rapid growth and development, and particularly emphasize the unfavorable position of the fastest growing companies (the so-called 'gazelles'), which should be the backbone of the development of innovative segment of the national economy. In addition, the paper analyzes indicators concerning business demography of entrepreneurial sector of Serbia, and the global entrepreneurship index, which also point to poor condition and unfavorable position of the entrepreneurial sector in Serbia, with uncertain prospects for improvement in the future.
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article language: English
document type: Original Paper
DOI: 10.5937/ekopre1504205F
published in SCIndeks: 24/06/2015