This study examines success factors and motivation of entrepreneurs in the rural areas of the Eastern Serbia. The survey of the eighty entrepreneurs in the two municipalities has been conducted on the Zaječar district territory, and it included 14 villages. The weak economy, the depopulation process and the lack of financial sources are identified as problems, while the hard work and the quality of the products (services) are crucial success factors. On the other hand, political involvement had the lowest significance as the success factor. The results also indicate that the strongest motivators of the researched entrepreneurs were to be one’s own boss and to increase one’s own income.


Download data is not yet available.


1. Benzing, C., Chu, H.M., & Szabo, B. (2005). Hungarian and Romanian Entrepreneurs in Romania-Motivation, Problems and Differences. Journal of Glob. Business, 16, 77-87.
2. Bobera, D., Leković, B., & Berber, N. (2014). Comparative Analysis of Entrepreneurship Barriers: Findings from Serbia and Montenegro. Engineering Economics, 25(2), 167-176.
3. Bobera, D., Marić, S., & Leković, B. (2015). Entrepreneurship as a Consequence of External Stimuli and/or Internal Incentives. Economic Themes, 53(1), 83-101.
4. Bogdanov, N. (2008). Small Rural Households in Serbia and Rural Non-Farm Economy (2nd edition). Belgrade: United Nations Development Programme Serbia.
5. Carsrud, A., & Brannbact, M. (2011). Entrepreneurial Motivations: What Do Wee Need to Know? Journal of Small Business Management, 49(1), 9-26.
6. Chu, H.M., & Katsioloudes, M. (2001). Cultural Context in the Vietnamese American Entrepreneurial Experience. Journal of Transnational Development, 7(2), 37-46.
7. Cvijanović, D. (2012). Kako povećati konkurentnost i suficit Republike Srbije [How to increase the competitiveness and surplus of the Republic of Serbia]. Beograd: Institut za ekonomiku poljoprivrede.
8. European Commission (1997). Agenda 2000, COM (97) 2000. Luxembourg: Office for the Official Publications of the European Community.
9. Kuratko, D., Hornsby, J., & Naffziger, D. (1997). An Examination of Owners’ Goals in Sustaining Entrepreneurship. Journal of Small Business Management, 35, 24-33.
10. Labrianidis, L. (2016). Fostering Entrepreneurship as a Means to Overcome Barriers to Development of Rural Peripheral Areas in Europe. European Planning Studies, 14 (1), 1-8.
11. Leković, B. & Marić, S. (2016). Economic Crisis and the Nature of Entrepreneurial and Management Activities. Economic Themes, 54(1), 1-44.
12. Maksimović, G., Otović, S., Demirović, D., & Vermezović, T. (2016). A Review Envestigating Agrarian Female Entrepreneurship in the Republic of Serbia. Economics of Agriculture, 63(1), 29-46.
13. McMullin, J., Bagby, D.R., & Palich, L. (2008). Economic Freedom and the Motivation to Engage in Entrepreneurial Action. Entrepreneurship Theory and Practice, 32(5), 875-895.
14. Minniti, M. (2008). The Role of Government Policy on Entreprenuurial Action: Productive, Unproductive, or Destructive? Entrepreneurship Theory and Practice, 32(5), 779-790.
15. Ozsoy, O., Oksoy, D., & Kozan, K. (2001). The Characteristics of Turkish Entrepreneurs and Their Enterprise. College of Business; Alfred University. Long Island; New York.
16. Peković, D. (2017). Effects of Remittances on Rural and Regional Poverty in the Republic of Serbia. Economic Themes, 55(1), 105-120.
17. Robichaud, Y., McGraw, E., & Roger, A. (2001). Toward the Development of a Measurement for Entrepreneurial Motivation. Journal of Developmental Entreprenuership, 6, 189-202.
18. Roggof, E.G., Lee, M., & Suh, D. (2004). Who Done It? Attributes by Entrepreneurs and Experts of the Factors that Cause and Impede Small Business Success. Journal of Small Business Management, 42(4), 364-376.
19. Sajfert, Z. Lazić, J., & Janković, J.M. (2008). Struktura životnih ciljeva menadžera i preduzetnika u Srbiji [Structure of life goals of managers and entrepreneurs in Serbia], Industrija, 36(2), 33-54.
20. Schumpeter, J.A. (1934). The Theory of Economic Development. Cambridge, MA: Harvard University Press.
21. Stefanović, I., Prokić, S., & Ranković, Lj. (2010). Motivational and Success Factors of Entrepreneurs: The Evidence from a Developing Country. Zb. rad. Ekon. fak. Rij., 28(2), 251-269.
22. Stefanović, I., Prokić, S., & Ranković, Lj. (2011). Success Factors of Entrepreneurs: Empirical Evidence from Serbia. Industrija, 39(2), 15-27.
23. Yalcin, S., & Kapu, H. (2008). Entrpreneurial Dimensions in Tranzitional Economies: A Review of Relevant Literature and the case of Kyrgyzstan. Journal of Developmental Entrepreneurship, 13(2), 185-203.
24. Vukmirović, N. (2005). Modeli podrške razvoju ženskog preduzetništva [Models of support for the development of women entrepreneurship]. Industrija, 33(4), 1-18.
25. Živković, Ž., Mihajlović, I., & Prvulović, S. (2009): Developing Motivation Model as a Strategy for HRM in Small Enterprises Under Transitional Economy. Serbian Journal of Management, 4(1), 1-27.
How to Cite
VUKOVIĆ, Milovan; PRVULOVIĆ, Igor; UROŠEVIĆ, Snežana. FACTORS OF SUCCESS AND MOTIVATION OF RURAL ENTREPRENEURSHIP IN EASTERN SERBIA. Economics of Agriculture, [S.l.], v. 65, n. 3, p. 1085-1097, sep. 2018. ISSN 2334-8453. Available at: <http://ea.bg.ac.rs/index.php/EA/article/view/884>. Date accessed: 24 sep. 2020. doi: https://doi.org/10.5937/ekoPolj1803085V.