The role of women is extremely important for the economic development of every country. The objective of this paper is to study and understand how important business women are for achieving sustainable economy in Serbia, and how their skills can be utilized in that respect. A descriptive research methodology was used, with the questionnaire as a survey instrument, to demonstrate the momentous role of women entrepreneurs in promoting sustainable practices in economy, social system and ecology. The research shows that women entrepreneurs in Serbia introduce ecology into their business intuitively, but it states that in addition to the ecological component, the economic and social components must be involved in the business operations, in order that the female entrepreneurs contribute to the growth of the national economy. The paper concludes that given the positive impact made by women on the economy and development in Serbia, women entrepreneurship is pivotal in promoting sustainable practices in business socially, economically and environmentally.


Download data is not yet available.


1.Beverley, K. and Atsese, W. (2004) Female Entrepreneurs in Transitional Economies: a comparative study of businesswomen in Nigeria and China. In Proceedings Hawaii International Conference on Business, Hawaii.
2. Chamber of Commerce and Industry of Serbia – CCIS (2017). Female entrepreneurship. [in Serbian: Privredna Komora Srbije - PKS (2017). Žensko preduzetnišvo]. Retrieved from:
3. Chroneos Krasavac B. and Karamata E. (2017). Innovative Potential for Development – Environmentally Motivated Female Entrepreneurship Network in the Republic of Serbia [in Serbian: Chroneos Krasavac B. i Karamata E. (2017). Inovacioni potencijal razvoja - mreža ekološki motivisanog ženskog preduzetništva u Republici Srbiji]. NGO “Green Serbia Policy Institute”, under the co-financing contract concluded with the Ministry of Environmental Protection of the Republic of Serbia no. 401-00-328/2017-02 dated 13th October 2017.
4. Duflo, E. (2011). Women’s empowerment and economic development. Working Paper 17702. Retrieved from:
5. Essers, C. and Benschop, Y. (2009). Muslim businesswomen doing boundary work: The negotiation of Islam, gender and ethnicity within entrepreneurial contexts. Human Relations, 62(3), 403–423.
6. G20 Information Centre, (2017). G20 Leaders´ Declaration: Shaping an interconnected world. Retrieved from:
7. Kabeer, N. (2005). Gender equality and women’s empowerment: A critical analysis of the third millennium development goal 1. Gender & Development, 13(1), 13–24.
8. Kaciak, E., Memili, E., Sadoon, A.A., & Welsh, D.H.B. (2014). Saudi women entrepreneurs: A growing economic segment. Journal of Business Research, 67, 758–762
9. Lee, J. (1996). The motivation of women entrepreneurs in Singapore. Women in Management Review, 11(2), 18–29.
10. Lerner, M., Brush, C. and Hisrich R. (1997). Israeli women entrepreneurs: an examination of factors affecting performance. Journal of Business Venturing, 12, 315–339.
11. Marlow, S. (2002). Women and self-employment. A part of or apart from theoretical construct? The International Journal of Entrepreneurship and Innovation, 3(2), 83–91. doi: 10.5367/000000002101299088
12. Serbian Association of Employers –SAE (2013). Assessment of conditions for female entrepreneurship in the Republic of Serbia. Belgrade: Serbian Association of Employers.
13. Sundin, E. and Holmquist, C. (1989). Women as entrepreneurs: Invisibility, diversity, adjustment [in Swedish: Sundin, E. and Holmquist, C. (1989). Kvinnor som företagare: Osynlighet, mångfald, anpassning]. Malmö: Liber.
14. Tan J. (2008). Breaking the “Bamboo Curtain” and the ”Glass Ceiling”: The Experience of Women Entrepreneurs in High-Tech Industries in an Emerging Market. Journal of Business Ethics 80(3), 547–564.
15. United Nations (2014). Sustainable Development Goals. Retrieved from
16. United Nations Industrial Development Organization (UNIDO) (2018). UNIDO event at SPIEF 2018 to focus on increasing women’s contribution to economic growth. Retrieved from
17. Vossenberg, S. (2013). Women Entrepreneurship Promotion in Developing Countries: What explains the gender gap in entrepreneurship and how to close it? Maastricht School of Management. Working Paper No. 2013/08
18. Welsh, D.H.B., Memili, E., Kaciak, E. and Al Sadoon, A. (2014). Saudi women entrepreneurs: A growing economic segment. Journal of Business Research, 67(5), 758–762.
19. World Bank Group – WBG (2019). Annual report: The Women Entrepreneurs Finance Initiative (We-Fi). Retrieved from:
How to Cite
CHRONEOS KRASAVAC, Biljana; KARAMATA, Ema; DJORDJEVIC, Vladimir. INNOVATIVE POTENTIAL OF ENVIRONMENTALLY MOTIVATED FEMALE ENTREPRENEURSHIP FOR SUSTAINABLE DEVELOPMENT IN THE REPUBLIC OF SERBIA. Economics of Agriculture, [S.l.], v. 66, n. 3, p. 721-735, sep. 2019. ISSN 2334-8453. Available at: <>. Date accessed: 18 jan. 2021. doi:
Original scientific papers