Clustering as an opportunity for internationalization of the SME sector in Serbia

Abstract:

The geographic concentration and regional specialization of small and medium-sized enterprises in many developed countries has significantly contributed to increasing their competitiveness in the international market and balanced regional development. Clusters, as a form of business association, are particularly important for small and medium-sized enterprises, which strive to take part in the highly competitive international market. The range of goals of internationalization is very wide—the increase of profit, risk reduction and dispersion, increasing the technological level etc. The clusters of the real sector have a significant impact on the increase and the dynamics of the country’s exports. Therefore, a new model of economic development for Serbia should be based on inter-related, export-oriented small and medium-sized enterprises of the real sector.