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Small and Medium Enterprise (SME) development is one of the key factors in the process of European Integration of Serbia. SMEs are significant source of business relations with other European countries and significantly help the process of integration of Serbia into the broader European economic framework. The European Union (EU) pays particular attention to the development of SMEs and the European Commission in the June 2008 adopted a special document entitled "Small Business Act for Europe"doi:10.22004/ag.econ.139505 fatcat:4ckdcmdhdvb6pegv37f7ncbbly