Salary costs and inflation are troubling Serbian businessmen

Serbian Dinars / Photo: Free Press Archive

More than four-fifths of entrepreneurs said that the salary levels of their employees have the biggest impact on the growth of business costs, followed by inflation, according to data from the EU Entrepreneurial Barometer study.

106 entrepreneurs from all over Serbia participated in the formation of this study, and the goal is to gain insight into the business trends of the Serbian entrepreneurial scene in 2023.

As stated in this study, the changes in the market in recent years depended on many factors, such as the pandemic, transportation problems, military actions, inflation and business viability.

The number of entrepreneurs and their employees at the end of the fourth quarter of 2023 is 416.922, which is 17,6 percent of the total number of employees, according to the data of the Republic Institute of Statistics (RSO).

At the same time, that number is 11.934, i.e. by 2,9 percent higher than the previous year in the same period, which together with the fact that this year's participants in the research in a high percentage, i.e. 46,23 percent, indicated the conditions for entrepreneurial business in Serbia as unfavorable. What is a big change compared to previous years is that in 2023 there were 4,5 times more male entrepreneurs than women, and that ratio was 82 to 18 percent, Kamatica reports.

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