The current world economic crisis is one of the most destructive in the last century, and as such it has a negative impact on the overall world economic system, on individual national economies and especially on transition economies, such as that of Serbia. The experience of developed countries indicates the importance of small and medium enterprises in the process of fostering economic development. The current economic crisis is having a negative effect on the transitional economy that is Serbia. The textile industry is the most vulnerable to crisis, and output must be sought in the rapid inclusion of small and medium enterprises in economic trends and in the encouragement of faster development. Modern market textile business enterprises in Serbia, especially in times of economic crisis, are characterised by negative aspects that are reflected in the poor position of textile companies in the global market scene, in reduced competitiveness as well as in the lack of technology, trained staff and standards. The textile industry as a branch of the economy is likely to increase production as well as exports and to overcome the economic crisis because small and medium enterprises in the textile industry have a mechanism to better withstand global economic crisis.

 

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Role of Small and Medium-Sized Enterprises in the Enhancement of the Serbian Textile Industry in Times of Crisis

General problems of the fibre and textile industries

Authors:

  • Urošević Snežana
    Department of Management, Technical Faculty in Bor, University of Belgrade, Bor, Serbia
  • Stamatović Milan
    Faculty of Management, Metropolitan University, Belgrade, Serbia

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Abstract:

The current world economic crisis is one of the most destructive in the last century, and as such it has a negative impact on the overall world economic system, on individual national economies and especially on transition economies, such as that of Serbia. The experience of developed countries indicates the importance of small and medium enterprises in the process of fostering economic development. The current economic crisis is having a negative effect on the transitional economy that is Serbia. The textile industry is the most vulnerable to crisis, and output must be sought in the rapid inclusion of small and medium enterprises in economic trends and in the encouragement of faster development. Modern market textile business enterprises in Serbia, especially in times of economic crisis, are characterised by negative aspects that are reflected in the poor position of textile companies in the global market scene, in reduced competitiveness as well as in the lack of technology, trained staff and standards. The textile industry as a branch of the economy is likely to increase production as well as exports and to overcome the economic crisis because small and medium enterprises in the textile industry have a mechanism to better withstand global economic crisis.

 

Tags: competitiveness, small and medium enterprises, textile and clothing industry, economic crisis

Citation: Urošević S., Stamatović M.; Role of Small and Medium-Sized Enterprises in the Enhancement of the Serbian Textile Industry in Times of Crisis. FIBRES & TEXTILES in Eastern Europe 2011, Vol. 19, No. 4 (87) pp. 14-19.

Published in issue no 4 (87) / 2011, pages 14–19.

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