Conclusions
Despite the undeniable importance of entrepreneurship for the economic development,
academic research about this topic have emerged only in the second half, especially at the
end of the twentieth century, and most of them are based on practical consulting
experiences and studies. These researches actually observe entrepreneurship as a kind of
art, since it is basically not possible to find a pattern of behaviour that will always lead to
the desired results. The impact of numerous important factors that influence the success of
entrepreneurial ventures is different in different business environments, but it is certain that
is always expressed in some way. Accordingly, it happens that the ventures that were
followed by significant financial resources and modern technology and knowledge fail just
because they are not compatible with the business environment, as they have no
institutional or legal support that would provide proper conditions for a successful
implementation. Also, it is important to analyse other market participants, since they
influence and define markets, so appropriate business results could be gained only with the
right strategy that considers all important elements. In particular, each enterprise should
especially consider its relationships with the strong participants, whether they are
competitors, business partners or government institutions, having in mind their impact on
their own businesses, and on the creation of a business environment.
Since the market is an alive entity which is constantly changing, it offers new opportunities
but also creates new barriers that can limit entrepreneurial activities. These activities can
also be reasons for the change of the environment. When we observe all companies
operating within a certain country, it becomes possible to obtain significant indicators of
competitiveness of the country at the international level.
In this paper we observed various indicators that pointed to the fact that the level of
entrepreneurial activity in Serbia is not as good as it could be, and the reasons are primarily
in financial nature, although here should be noted the importance of corruption and
inefficient bureaucracy typical for this country. As a result, Serbia is not one of the betterranked
countries according to these indicators, so, among other things, it is necessary to
improve its local business environment in order to create the conditions for economic
development, which would be reflected on entrepreneurial ventures. Given the correlation
between these factors, both of them should pull each other, so the government and the
enterprises should consider this fact and find proper strategies that will allow them to create
and use opportunities in order to become more competitive on the local and the global
level. However, having in mind the complexity of observed correlation, the future direction
of research will actually go towards finding a model that should recognize and include
those elements that are of greatest importance, in order to provide an accurate tool which
will help in determining concrete critical factors and in finding directions for potential
actions that would lead to the desired objectives.