Microcrediting in the service of the development of Serbian economy

Abstract

The so-called 'social economy' presents a correction and amendment to the market economy, primarily in the context of increase in employment opportunities, and consequently economy boost. An important segment of the 'social economy' is micro crediting. Similar to the united and harmonious ant colony able to build an entire metropolis, micro companies possess a potential to revive and rebuild the economy and to contribute to the gross domestic product growth. The purpose of this paper is to point to the current state of microcredit industry both in Serbia and in the world and to look at some examples of good practice. The paper takes an empirical approach, based on the comparative method.

Keywords

• micro crediting
• self-employment
• economic growth