Small and medium enterprises in Serbia in crisis circumstances

Abstract

In the period of transition (2000-2009) Serbia mainly established institutions and developed legal framework for SME support. Number of SME increased from year to year and, more important, number of new working places became in excess to those disappeared in companies in restructuring. Global economic crisis influenced Serbian economy negatively and SME sector, as well. Set of measures were introduced by Government and National bank of Serbia in order to curb recession, but were partially late and slightly weak. The point regarding SME support is now to introduce measures especially for fast growing small companies and gazelles, in an aim to overcome recession and make whole economy more competitive on international market