Country in the spotlight - Serbia
SMEs are the backbone of Serbia's economy, accounting for 99% of all enterprises, employing more than 64% of the labor force, and generating 56.9% of the country's gross value added. The latest OECD Financing SMEs and Entrepreneurs 2026 report also highlights continued growth in SME financing, with new bank lending to SMEs increasing by 17.7% in 2024, reflecting improved access to finance and continued confidence in the sector.
Serbia's startup ecosystem is also gaining international recognition. According to the StartupBlink Global Startup Ecosystem Report 2026, Serbia ranks 58th globally and 15th in Eastern Europe, with Belgrade remaining the country's leading startup hub. The report highlights the strength of Serbia's software and data sector, as well as a growing ecosystem supported by innovative companies, technology parks and entrepreneurial support organisations that are helping local startups scale internationally.
This dynamic business environment is also reflected in Serbia's active participation in the Erasmus for Young Entrepreneurs (EYE) programme. Within the Western Balkans, the programme has facilitated 625 business exchanges and accepted 982 entrepreneur applications, with 379 applications from Serbia. Since joining the programme in 2013, Serbia has become one of the region's most active participants, recording the highest number of established relationships involving both NEs and HEs. The infographic below highlights Serbia's achievements in the EYE programme over the years.
Serbia and the EYE programme
