Entrepreneurship, national culture and the Republic of Serbia

In the emerging business environment and with the rapidly growing contemporary business trends, the concepts of entrepreneurship and entrepreneurs tend to adapt to the new circumstances of business practice. According to the entrepreneurship theory, entrepreneurs possess universal characteristics, but some characteristics of entrepreneurs are conditioned by the specificities of their own national culture. Also, entrepreneurship concepts vary from one country to another. The link between entrepreneurship and entrepreneurial behavior and cultural values has been defined by a framework of dimensions of national cultures first introduced by a scientist - Geert Hofstede. Numerous studies on the subject point to a strong link between entrepreneurship and national culture. The aim of this paper is to provide a theoretical overview of the most important facts regarding the connection between entrepreneurship and national culture in general, with an emphasis on the national culture of the Republic of Serbia and its entrepreneurial environment.