Micro enterprises suffered most during crisis – SMEs recorded highest growth

Last year, medium-sized and small companies were the most responsible for the growth in profitability of the business sector in Serbia considering that they increased their profits by a third compared to the previous year, while small companies recorded the most pronounced profitability growth of 34.2 percent – the Business Registers Agency (APR) has said.

The growth of profitability in medium-sized companies was accompanied by an increase in the number of employees (by 19,239 in total), while small companies, although achieving a better result, laid off a total of 5,144 workers.

The biggest positive net results were accomplished by large corporations, whose total profit increased by 2.2 percent compared to the previous year, and these companies also recorded the largest increase in the number of employees – by 29,101.

The consequences of the crisis have affected micro-enterprises the worst. They mostly recorded negative business results. Their cumulative loss was reduced by 16.4 percent on an annual level, while the number of employees increased by 396 compared to the previous year.

According to the APR data for 2020, there are a total of 106,111 companies in the Republic of Serbia, of which 87 percent are micro-companies, 10.9 percent are small, 1.7 percent are medium and 0.4 percent are large.

(Kamatica, 16.05.2021)



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