Company Management in Serbia
Company Management in SerbiaUpdated on Friday 27th January 2023
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An operational and successful business will pretty much depend on the ways in which it is handled and managed. Every director or manager in the firm has a representative role and all sorts of tasks to take care of, in agreement and respect with the directives imposed by the owners. In this article, we present you information about the company management in Serbia and recommendations about how to run a company to the road of success. Our lawyers in Serbia are here to offer legal advice and company management solutions to all international investors looking for business in Serbia.
How can I manage a business in Serbia?
Each company registered in Serbia starts the business road with a multitude of goals and targets, and the success will depend in a large percent on the ways in which it is managed. Running a company in Serbia is not only about strict instructions and guidelines in a competitive market, it is also about the connection that it is created between the staff, the management and the owners of the company. Responsibilities must be clear right from the beginning, and entrepreneurs at the beginning of the road might want to pay attention to the following aspects when it comes to controlling a company:
- • Each company member has different tasks, starting from the simple employee, and ending with the chores of the directors.
- • A manager will not only make directives, he or she will have to supervise the entire process and make sure the responsibilities are properly understood.
- • Employees must be guided right from the beginning, in order to understand better their errands.
- • Bringing the responsibilities to a successful path will depend on the ways the managers impose their directives.
- • Communication is definitely the key to a properly managed company in Serbia.
A board of managers might represent the bridge between the staff in the firm and the owners of the company, mentioning that an open communication and high level of involvement are needed.
As short facts about the economy in Serbia, here is information about the direction of business in 2018:
- • The GDP (gross domestic product) was set at 4.2% at the end of 2018.
- • The inflation rate stood at 1.960% rate last year.
- • 3.2 million represents the active labor force in Serbia in 2018.
- • The exports in Serbia summed up approximately USD 23.1 billion.
Foreigners wanting to start a business in Serbia can get in touch with our team of attorneys in Serbia and ask for complete legal advice in matters of incorporation, taxation, management and many more.
Would you like to apply for residency in Serbia? Our local lawyers have experience in this field and can help you with the required paperwork and formalities requested by the authorities. Candidates must know that the process might take around 8 weeks, and the residence permit has a validity of 1 year with the possibility of renewal. More about the legal services we offer in this direction can be requested if you contact us online or over the phone.
What are the responsibilities of directors in a Serbian company?
Foreign investors can choose to have local managers or from abroad, depending on their business intentions and experience. However, regardless of the nationality of the company managers, one thing is for sure: they have the same responsibilities in the firm and they need to take care of the duties in a professional manner. The directors of a Serbian company will need to work closely on sending the business plan to a successful path, by taking into consideration all the directives and objectives established by the owners of the company. The characteristics of a company director are the same as for any kind of employee, meaning that communication, mutual respect, a positive attitude and professionalism are keys to a successful business management.
Are you looking for company formation in Serbia and need support from a legal point of view? Let our team of lawyers in Serbia tell you more about these aspects and about the applicable legislation for companies in Serbia.
Management guide in Serbia – What you need to know
Even though Serbia is open for business and for international investors, it is recommended to have in mind the history of the country and understand that after years of communism and difficult times, the approach in business will have to be step by step. The management of a company is not only subject to communication and mutual respect, but also on the ways in which the country is positioned in terms of business and multicultural barriers.
For instance, a formal mode in knowing the business partners and respecting the hierarchy will represent the best approach and the first steps in creating a relaxed way of doing business. As part of the management guide for companies in Serbia, it is good to know that the role of directors is in most cases quite clear, requiring precise directives when tasks are assigned to employees in the firm. All the protocols must be clearly defined and established, in order for the employees to understand better their roles in the company.
Starting a business in Serbia often requires solid level of information about the applicable laws, company formation, tax regime and many more. Even the ways in which the company management is developed is extremely important, so if you would like to know more details in this sense and if you are looking for legal advice, do not hesitate to contact our law firm in Serbia.