Analysis of the development of small and medium enterprises in the agro-food system of Serbia

Pantić, Olivera and Filimonović, Dragan (2013) Analysis of the development of small and medium enterprises in the agro-food system of Serbia. In: Economic Sciences on the Crossroad. Institute of economic sciences, Belgrade, pp. 576-585. ISBN 978-86-89465-10-5

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Abstract

The importance of agriculture to the national economy and economic stability of Serbia is great considering the fact that it makes a substantial part of the Gross domestic product. At the same time, the abundance of natural resources in Serbia, favorable geographic and climatic conditions and skilled labor force are resources which can make the local agriculture more competitive in the global market. The sector of small and medium enterprises (SMEs) stands out as an important factor in the economic growth and development of the countries in transition. Due to its numerous advantages over the large enterprises, such enterprises can accelerate the process of transition, increase the investment rate and reduce unemployment rate which is usually very high in the developing countries. Economic development of our country is based to a certain extent on the development of the SME sector which has a particularly important role in the agribusiness sector. This paper aims to provide an analysis of the SME sector in Serbia with the special focus on the agro-food system and its characteristics in the agriculture and food industry. Strengthening this sector will mean better business conditions in the Serbian economy, and the measures taken within economic and agricultural policies should be aimed at fostering innovation and competitiveness of small and medium enterprises.

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