Last year, Serbia witnessed a notable trend in its business landscape, as revealed by the latest data from the Agency for Economic Registers (APR). A striking 32,922 companies operated without any employees, while an additional 24,525 functioned with just one employee. These figures underscore a significant aspect of Serbia’s economic structure.
Out of the 136,602 companies active in Serbia by year-end, the APR processed financial data for 110,808. This analysis reveals that nearly 30 percent (29.7 percent) of Serbian companies operated without any employees. When combined with those employing just one person, this category constitutes a substantial 51.8 percent of the Serbian economy.
Financially, these companies demonstrated robust performance. In 2023, companies without employees generated approximately 270.5 billion dinars (2.3 billion euros) in operating income, with a net profit of about 49.6 billion dinars (420 million euros). Similarly, businesses with a single employee reported revenues of around 415.5 billion dinars, achieving a net profit of approximately 30.9 billion dinars. Together, they contributed 5.1 percent and 8.3 percent, respectively, to the total net profit of Serbia’s economy.
While specific sector data for these businesses has not been published by the APR, historical trends suggest a prevalence in consulting services, wholesale and retail trade, as well as scientific, professional, and technical activities.
Aleksandar Vasić, a tax expert from the Association of Tax Advisors of Serbia, noted that many of these entities likely engage in consulting services or trade activities, often operated by individuals who maintain other employment arrangements. This organizational approach, he explained, allows flexibility for individuals to undertake specific projects or manage supplementary business activities.
Looking ahead, these findings highlight a dynamic aspect of Serbia’s economic fabric, where a significant portion of companies operates efficiently with minimal human resources. As Serbia continues to navigate economic growth, understanding the role and impact of these businesses remains crucial for policymakers and stakeholders alike.
Overall, the report underscores the resilience and adaptability within Serbia’s business environment, affirming its sustained positive economic performance in recent years.
