Innovative potential of environmentally motivated female entrepreneurship for sustainable development in the Republic of Serbia

Abstract

The role of women is extremely important for the economic development of every country. The objective of this paper is to study and understand how important business women are for achieving sustainable economy in Serbia, and how their skills can be utilized in that respect. A descriptive research methodology was used, with the questionnaire as a survey instrument, to demonstrate the momentous role of women entrepreneurs in promoting sustainable practices in economy, social system and ecology. The research shows that women entrepreneurs in Serbia introduce ecology into their business intuitively, but it states that in addition to the ecological component, the economic and social components must be involved in the business operations, in order that the female entrepreneurs contribute to the growth of the national economy. The paper concludes that given the positive impact made by women on the economy and development in Serbia, women entrepreneurship is pivotal in promoting sustainable practices in business socially, economically and environmentally.