Lack of employees and unpredictable business expenses main barriers for development of IT sector

In a survey conducted as a part of international “CITED” (Creating IT Environment for Development) program, managers of 66 IT companies in Serbia, predominantly micro enterprises and startups, listed 10 main business risks as a challenge for further development of their companies in in Serbia.

1. Increased lack of skilled employees
2. Unpredictable fiscal, parafiscal and administrative business expenses
3. Growing competition on global level, causing IT experts to leave Serbia
4. Lack of affordable sources of finance for long-term project
5. State interventionism in IT sector and favouring IT foreign investors
6. Lack of communication of IT industry with other sectors in the country
7. High losses and barriers in foreign currency exchange rates when doing business abroad
8. Political instability and breach of international trade agreements
9. Profit reduction per client or user of IT services, forcing an increase in client base and raising development costs of commercial sector
10. Reduced capabilities for reaching profitability levels requested by foreign partners and investors in development of new IT solutions

This survey is conducted biannually in 42 countries with developed IT sector. This is the first time it has included Serbia.