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Visoka škola ,, Dositej,, , Laktaši , Bosnia and Herzegovina
Visoka škola za poslovnu ekonomiju i preduzetništvo , Belgrade , Serbia
We can say that small and medium enterprises are prime-movers of economic development of every country. The fact is that in most countries small and medium enterprises make 99% of the total number of registered enterprises. Also, the fact that points at the importance of small and medium enterprises is that these enterprises participate in all economic indicators (number of enterprises, import and export of economy of Serbia, contribution in total turnover etc.). Since small and medium enterprises are the most sensitive to changes in surroundings, the global economic crises had influence on their growth and development during the last years. The influence of the crisis had a negative impact not only on economic subjects in Serbia which are in an early phase of business, but also on existing firms. This work points at the importance of small and medium enterprises in economic development of Serbia, problems which they deal with as well as consequences on their business which have been caused by economic crises.
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