Multi-Context Analysis of the Environment for the Development of Entrepreneurship in Montenegro

Abstract

This chapter provides an overview of entrepreneurship in Montenegro, through various aspects of the analysis. The chapter begins with an analysis of the role and importance of the development of entrepreneurship in Montenegro, followed by an analysis of the institutional and strategic framework for supporting the development of entrepreneurship. In this sense, a significant segment of the chapter is the analysis of various strategic documents, with a special focus placed on the role of the entrepreneurship development strategy, as well as the institutions responsible for the creation and implementation of entrepreneurship policies in Montenegro. The study also includes state measures, that is, support programs for the development of entrepreneurship, and thus the overall Montenegrin economy, which belongs to the group of less developed countries. In addition, the chapter indicates the importance of entrepreneurial learning in the development of entrepreneurial activity. The analysis shows that entrepreneurship is a concept that is increasingly used in Montenegrin economic theory, but also that it is increasingly present in everyday life, which is confirmed by numerous examples from practice. Therefore, through a multi-context analysis, the study depicts the environment for entrepreneurship development in Montenegro, including an overview of the state support, the influence of various factors, as well as certain forms of entrepreneurship that are current, and those that may be promising. The chapter ends with recommendations and guidelines for the further development of entrepreneurship in this country. With this regard, the key elements for increasing entrepreneurial activity are recognized in multiple support for a greater number of people to get involved in business, as well as in the improvement of a favorable business environment through the strengthening of institutional and infrastructural support.

Citation

Melović, B. and Ćirović, D. (2023), "Multi-Context Analysis of the Environment for the Development of Entrepreneurship in Montenegro", Ramadani, V., Kjosev, S. and Sergi, B.S. (Ed.) Entrepreneurship Development in the Balkans: Perspective from Diverse Contexts (Lab for Entrepreneurship and Development), Emerald Publishing Limited, Leeds, pp. 171-195. https://doi.org/10.1108/978-1-83753-454-820231010