Analysis of the Export Potential of Small and Medium Enterprises in the Republic of Serbia

Svetlana Trajkovic; Ljiljana Stosic Mihajlovic

doi:doi:10.11648/j.ijber.20211005.12

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Analysis of the Export Potential of Small and Medium Enterprises in the Republic of Serbia

Svetlana Trajkovic, Ljiljana Stosic Mihajlovic

Published in International Journal of Business and Economics Research (Volume 10, Issue 5)

Received: 6 September 2021 Accepted: 22 September 2021 Published: 12 October 2021

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Abstract

The long-term stagnation of Serbia's exports is a limiting factor for further economic growth. Therefore, increasing exports is seen as a development necessity. The trend of international networking and multicultural business environment represents a new type of requirement for the management of Serbian companies, both at the national and local level. Their main goal is to contribute to a more efficient integration of the domestic economy into global trade and production flows. In this way, exports become one of the most important determinants of successful and sustainable economic development. Only 30% of companies in the tradable sector of the Serbian economy are active exporters, while the remaining 70% of companies are oriented exclusively to doing business in the country. Although most small and medium-sized companies in the tradable sector are exporters, a relatively small number of micro-enterprises have managed to expand their business abroad, which has had a significant impact on the relatively low share of exporters in the total number of companies in Serbia. In general, exporters are more successful and dynamic, as well as twice as productive, as non-exporting companies. The main goal of this paper is to identify the sector of small, medium enterprises and entrepreneurs (SMEs) with development potentials to increase exports and thus create the conditions for these potentials to be used to a greater extent than before. In this way, SMEs can be helped to increase their competitiveness in the international market. This will enable SMEs to make and make a greater contribution to the development of the domestic economy, as well as to broader economic and social priorities. In addition, this paper should indicate which sectors have obvious market potential but at the same time difficulties in achieving their goals and fully realizing that potential. The results of this research should help to design various actions whose implementation would provide adequate support to the identified sectors while minimizing the constraints faced by these sectors.

Published in	International Journal of Business and Economics Research (Volume 10, Issue 5)
DOI	10.11648/j.ijber.20211005.12
Page(s)	171-177
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2021. Published by Science Publishing Group

Keywords

Small and Medium Enterprises, Exports, Market, Serbia

References

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[3]	Entrepreneurs in the Republic of Serbia, no. 117, Year LVII, Republic Statistical Office, Belgrade, 2021. https://publikacije.stat.gov.rs/G2021/Pdf/G202110117.pdf
[4]	STATISTICAL YEARBOOK (2020). Statistical Oce of the Republic of Serbia, / Belgrade, pp. 260-302.
[5]	Ministry of Economy based on SBS (2020). Belgrade 2020.
[6]	REAL SECTOR PERFORMANCE IN SERBIA (2021). Competitiveness by size, sector and region, pp. 36.
[7]	Sormaz, N., Bobić D. (2019). Center for Advanced Economic Studies, "Index of development potentials of tradable sectors in Serbia – IRP". pp. 95.
[8]	Udovicki, K., Sormaz, N., Bobic, D, Bozovic, B. (2014-2019). Center for Advanced Economic Studies, "REAL SECTOR PERFORMANCE IN SERBIA: Expressed competitiveness by size, sector and region, pp. 23-27.
[9]	Ministry of Economy National Agency for Regional Development, "Report on Small and Medium Enterprises and Entrepreneurship for 2017", pp. 18.
[10]	Center for Advanced Economic Studies (CEVES), (2015-2019). Potential and prerequisites for the growth of the SME sector in Serbia, Belgrade, pp. 16-21.
[11]	Stosic Mihajlovic, Lj. Market, costs and prices, Academy of Technical Education Vocational, Nis, pp. 136-140.
[12]	USAID Sustainable Local Development Project (SLDP), SME Competitiveness Report in Serbia.
[13]	Gagović, N. (2019). Determinants of export growth and analysis of the possibility of increasing exports of Serbia, Belgrade, pp. 16-19.
[14]	Ministry of Economy – Serbia. (2014). Strategy to support the development of SMEs, entrepreneurship and competitiveness for the period from 2015 to 2020", Belgrade, pp. 3-14.
[15]	Jevtic, P., Stosic Mihajlovic, Lj., Latin, R. (2020). Moderni krizni marketing menadžment. Ekonomski Izazovi, vol. 9, br. 18, str. 110-120.
[16]	Nikolic, I (2019). Stanogradnja u Srbiji – razvojni potencijali i ograicenja. Ekonomski institut, Beograd, ISBN: 978-86-7329-110-9, pp. 3-20.
[17]	Kamberovic, S., Mitrovic, S., Behrens, A., (2020). GAP analysis of opportunities for economic strengthening through the application of sustainable business models after the COVID-19 pandemic in the Republic of Serbia Publisher: OSCE Mission to Serbia.

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APA Style

Svetlana Trajkovic, Ljiljana Stosic Mihajlovic. (2021). Analysis of the Export Potential of Small and Medium Enterprises in the Republic of Serbia. International Journal of Business and Economics Research, 10(5), 171-177. https://doi.org/10.11648/j.ijber.20211005.12

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ACS Style

Svetlana Trajkovic; Ljiljana Stosic Mihajlovic. Analysis of the Export Potential of Small and Medium Enterprises in the Republic of Serbia. Int. J. Bus. Econ. Res. 2021, 10(5), 171-177. doi: 10.11648/j.ijber.20211005.12

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AMA Style

Svetlana Trajkovic, Ljiljana Stosic Mihajlovic. Analysis of the Export Potential of Small and Medium Enterprises in the Republic of Serbia. Int J Bus Econ Res. 2021;10(5):171-177. doi: 10.11648/j.ijber.20211005.12

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@article{10.11648/j.ijber.20211005.12,
  author = {Svetlana Trajkovic and Ljiljana Stosic Mihajlovic},
  title = {Analysis of the Export Potential of Small and Medium Enterprises in the Republic of Serbia},
  journal = {International Journal of Business and Economics Research},
  volume = {10},
  number = {5},
  pages = {171-177},
  doi = {10.11648/j.ijber.20211005.12},
  url = {https://doi.org/10.11648/j.ijber.20211005.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20211005.12},
  abstract = {The long-term stagnation of Serbia's exports is a limiting factor for further economic growth. Therefore, increasing exports is seen as a development necessity. The trend of international networking and multicultural business environment represents a new type of requirement for the management of Serbian companies, both at the national and local level. Their main goal is to contribute to a more efficient integration of the domestic economy into global trade and production flows. In this way, exports become one of the most important determinants of successful and sustainable economic development. Only 30% of companies in the tradable sector of the Serbian economy are active exporters, while the remaining 70% of companies are oriented exclusively to doing business in the country. Although most small and medium-sized companies in the tradable sector are exporters, a relatively small number of micro-enterprises have managed to expand their business abroad, which has had a significant impact on the relatively low share of exporters in the total number of companies in Serbia. In general, exporters are more successful and dynamic, as well as twice as productive, as non-exporting companies. The main goal of this paper is to identify the sector of small, medium enterprises and entrepreneurs (SMEs) with development potentials to increase exports and thus create the conditions for these potentials to be used to a greater extent than before. In this way, SMEs can be helped to increase their competitiveness in the international market. This will enable SMEs to make and make a greater contribution to the development of the domestic economy, as well as to broader economic and social priorities. In addition, this paper should indicate which sectors have obvious market potential but at the same time difficulties in achieving their goals and fully realizing that potential. The results of this research should help to design various actions whose implementation would provide adequate support to the identified sectors while minimizing the constraints faced by these sectors.},
 year = {2021}
}

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TY  - JOUR
T1  - Analysis of the Export Potential of Small and Medium Enterprises in the Republic of Serbia
AU  - Svetlana Trajkovic
AU  - Ljiljana Stosic Mihajlovic
Y1  - 2021/10/12
PY  - 2021
N1  - https://doi.org/10.11648/j.ijber.20211005.12
DO  - 10.11648/j.ijber.20211005.12
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
SP  - 171
EP  - 177
PB  - Science Publishing Group
SN  - 2328-756X
UR  - https://doi.org/10.11648/j.ijber.20211005.12
AB  - The long-term stagnation of Serbia's exports is a limiting factor for further economic growth. Therefore, increasing exports is seen as a development necessity. The trend of international networking and multicultural business environment represents a new type of requirement for the management of Serbian companies, both at the national and local level. Their main goal is to contribute to a more efficient integration of the domestic economy into global trade and production flows. In this way, exports become one of the most important determinants of successful and sustainable economic development. Only 30% of companies in the tradable sector of the Serbian economy are active exporters, while the remaining 70% of companies are oriented exclusively to doing business in the country. Although most small and medium-sized companies in the tradable sector are exporters, a relatively small number of micro-enterprises have managed to expand their business abroad, which has had a significant impact on the relatively low share of exporters in the total number of companies in Serbia. In general, exporters are more successful and dynamic, as well as twice as productive, as non-exporting companies. The main goal of this paper is to identify the sector of small, medium enterprises and entrepreneurs (SMEs) with development potentials to increase exports and thus create the conditions for these potentials to be used to a greater extent than before. In this way, SMEs can be helped to increase their competitiveness in the international market. This will enable SMEs to make and make a greater contribution to the development of the domestic economy, as well as to broader economic and social priorities. In addition, this paper should indicate which sectors have obvious market potential but at the same time difficulties in achieving their goals and fully realizing that potential. The results of this research should help to design various actions whose implementation would provide adequate support to the identified sectors while minimizing the constraints faced by these sectors.
VL  - 10
IS  - 5
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Author Information

Svetlana Trajkovic

Nis Department, Academy of Technical and Educational Vocational Studies, Vranje, Serbia
Ljiljana Stosic Mihajlovic

Nis Department, Academy of Technical and Educational Vocational Studies, Vranje, Serbia

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APA Style

Svetlana Trajkovic, Ljiljana Stosic Mihajlovic. (2021). Analysis of the Export Potential of Small and Medium Enterprises in the Republic of Serbia. International Journal of Business and Economics Research, 10(5), 171-177. https://doi.org/10.11648/j.ijber.20211005.12

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ACS Style

Svetlana Trajkovic; Ljiljana Stosic Mihajlovic. Analysis of the Export Potential of Small and Medium Enterprises in the Republic of Serbia. Int. J. Bus. Econ. Res. 2021, 10(5), 171-177. doi: 10.11648/j.ijber.20211005.12

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AMA Style

Svetlana Trajkovic, Ljiljana Stosic Mihajlovic. Analysis of the Export Potential of Small and Medium Enterprises in the Republic of Serbia. Int J Bus Econ Res. 2021;10(5):171-177. doi: 10.11648/j.ijber.20211005.12

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@article{10.11648/j.ijber.20211005.12,
  author = {Svetlana Trajkovic and Ljiljana Stosic Mihajlovic},
  title = {Analysis of the Export Potential of Small and Medium Enterprises in the Republic of Serbia},
  journal = {International Journal of Business and Economics Research},
  volume = {10},
  number = {5},
  pages = {171-177},
  doi = {10.11648/j.ijber.20211005.12},
  url = {https://doi.org/10.11648/j.ijber.20211005.12},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20211005.12},
  abstract = {The long-term stagnation of Serbia's exports is a limiting factor for further economic growth. Therefore, increasing exports is seen as a development necessity. The trend of international networking and multicultural business environment represents a new type of requirement for the management of Serbian companies, both at the national and local level. Their main goal is to contribute to a more efficient integration of the domestic economy into global trade and production flows. In this way, exports become one of the most important determinants of successful and sustainable economic development. Only 30% of companies in the tradable sector of the Serbian economy are active exporters, while the remaining 70% of companies are oriented exclusively to doing business in the country. Although most small and medium-sized companies in the tradable sector are exporters, a relatively small number of micro-enterprises have managed to expand their business abroad, which has had a significant impact on the relatively low share of exporters in the total number of companies in Serbia. In general, exporters are more successful and dynamic, as well as twice as productive, as non-exporting companies. The main goal of this paper is to identify the sector of small, medium enterprises and entrepreneurs (SMEs) with development potentials to increase exports and thus create the conditions for these potentials to be used to a greater extent than before. In this way, SMEs can be helped to increase their competitiveness in the international market. This will enable SMEs to make and make a greater contribution to the development of the domestic economy, as well as to broader economic and social priorities. In addition, this paper should indicate which sectors have obvious market potential but at the same time difficulties in achieving their goals and fully realizing that potential. The results of this research should help to design various actions whose implementation would provide adequate support to the identified sectors while minimizing the constraints faced by these sectors.},
 year = {2021}
}

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TY  - JOUR
T1  - Analysis of the Export Potential of Small and Medium Enterprises in the Republic of Serbia
AU  - Svetlana Trajkovic
AU  - Ljiljana Stosic Mihajlovic
Y1  - 2021/10/12
PY  - 2021
N1  - https://doi.org/10.11648/j.ijber.20211005.12
DO  - 10.11648/j.ijber.20211005.12
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
SP  - 171
EP  - 177
PB  - Science Publishing Group
SN  - 2328-756X
UR  - https://doi.org/10.11648/j.ijber.20211005.12
AB  - The long-term stagnation of Serbia's exports is a limiting factor for further economic growth. Therefore, increasing exports is seen as a development necessity. The trend of international networking and multicultural business environment represents a new type of requirement for the management of Serbian companies, both at the national and local level. Their main goal is to contribute to a more efficient integration of the domestic economy into global trade and production flows. In this way, exports become one of the most important determinants of successful and sustainable economic development. Only 30% of companies in the tradable sector of the Serbian economy are active exporters, while the remaining 70% of companies are oriented exclusively to doing business in the country. Although most small and medium-sized companies in the tradable sector are exporters, a relatively small number of micro-enterprises have managed to expand their business abroad, which has had a significant impact on the relatively low share of exporters in the total number of companies in Serbia. In general, exporters are more successful and dynamic, as well as twice as productive, as non-exporting companies. The main goal of this paper is to identify the sector of small, medium enterprises and entrepreneurs (SMEs) with development potentials to increase exports and thus create the conditions for these potentials to be used to a greater extent than before. In this way, SMEs can be helped to increase their competitiveness in the international market. This will enable SMEs to make and make a greater contribution to the development of the domestic economy, as well as to broader economic and social priorities. In addition, this paper should indicate which sectors have obvious market potential but at the same time difficulties in achieving their goals and fully realizing that potential. The results of this research should help to design various actions whose implementation would provide adequate support to the identified sectors while minimizing the constraints faced by these sectors.
VL  - 10
IS  - 5
ER  -

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