Research methodology
In the era of globalization, it is difficult to observe individual national economies
independently from the economy of other countries, given the modern tendency to establish
different relationships between countries at the international level. However, the economy
of a certain country is as strong as her national market participants are, which indicates a
close connection between macroeconomics and microeconomics. Accordingly, the
intention is to indicate the level of development of entrepreneurial activities in the Republic
of Serbia, and to explain resulting indicators through the prism of business environment,
using the analyses that were conducted by internationally recognized institutions, which
would in certain way indicate the aforementioned correlation and help to identify barriers
for strengthening entrepreneurship by improving the local business environment.
Serbia belongs to the group of the developing countries. Its population consists of 7.2
million inhabitants, with a GDP of 42.52 billion USD in 2013, and GDP per capita of
5,935.32 USD in the same year (World Bank, 2014). Observing the trend of these two
indicators over the previous ten years, we can come to the conclusion that in the beginning
these two indicators have increased their values noticeably, but that in the last five years
these values vary, indicating the unstable economic growth, which is partially a
consequence of the conditions in business fields, including entrepreneurial activities (figure
no. 3).