In the first half of 2024, Serbia registered 21,712 entrepreneurs, which marks a decrease compared to the same period in 2023, according to data from the Business Registers Agency (APR), as reported by Infostud. This is the first decline in the number of new entrepreneurs in the past four years.
In 2023, 22,486 new businesses were registered, while in 2022, there were 20,247 new entrepreneurs. In 2021, 16,387 new entrepreneurial ventures were started, and during the first half of 2020, 13,576 new businesses were established.
The majority of new entrepreneurial ventures in 2024 were concentrated in sectors such as consulting services related to business and management, restaurants and catering establishments, computer programming, road freight transport, and, in fifth place, hairdressing and beauty salons.
However, despite the establishment of new businesses, APR statistics show that around 11,000 entrepreneurial ventures are closed each half-year in Serbia. In 2023, the number of closed businesses was 11,661, while in 2022, 12,829 businesses were shut down, and in 2021, 11,243 businesses ceased operations.
The association “Protector of Entrepreneurs and Businesspeople of Serbia” warns that over 20,000 businesses are closed each year. The highest number of business closures occurs in sectors such as hospitality, hairdressing and beauty salons, and consulting services, as well as computer programming.
According to the association, the main reasons for the closure of businesses are high taxes and levies, which significantly hinder entrepreneurship. Entrepreneurs face substantial administrative costs and complex regulations that slow down their operations and discourage them, leading to reduced profits.
Additionally, unfair competition from the informal market or undeclared work creates unequal market conditions, making it harder for legitimate entrepreneurs who are registered and face higher obligations and costs.
One of the key factors contributing to business closures is the lack of financial support in the early stages of operations. Difficult access to loans and investments limits growth and sustainability, further hindering the development of entrepreneurial ventures in Serbia.
