Small and Medium-Sized Enterprises (SMEs) have been described as ‘the backbone' of the economy of the Western Balkans.Indeed, with SMEs making up 99% of Serbian companies, employing 53% of the working population, this is certainly true for Serbia. A significant amount of companies is still state-owned, but privatisation is anticipated for the majority of these companies in the years to come. Both private and state-owned companies experience corruption, though of different kinds.

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