Barriers to innovation in SMEs in the Republic of Serbia

Small and medium-sized enterprises (SMEs) face significant constraints in their efforts to be innovative. In addition to general problems in innovation, these business entities in Serbia are faced with additional difficulties which can significantly reduce and limit their innovative strength. In short, these barriers are: personal unreadiness to innovate, underdeveloped awareness of the importance of innovation, inadequate government strategy for supporting innovativeness, limited market, insufficiency of capital, non-innovative organizational culture and insufficient incentives.