About SME Compass
SME Compass is a platform designed to analyze the competitiveness of the domestic SME economy in Serbia.
The platform aims to enable various stakeholders to quickly find useful answers about the structure, performance, and development needs of the economy as a whole, or by segment. Data for the platform has been collected over several years, organized through the following modules:
• SME Compass Index, for monitoring the competitiveness of the SME sector through survey and financial indicators.
• ESG Readiness Monitor, for monitoring companies' readiness for ESG requirements from markets, banks, and supply chains.
• Compass BizMap, for business-financial benchmarking of the economy based on APR (Business Registers Agency) data.
The first version of SME Compass was launched in 2023 during the SME100 Expo Conference. Our intention is for SME Compass to be used by policymakers, financial institutions, the donor community, entrepreneurs, academics, and the general public as an important resource for understanding the importance and development of the SME sector. SME Compass has clear policy and programming implications, pinpointing key challenges and opportunities across topics, sectors, and regions.
SME Compass Index places its nine pillars of competitiveness at the core of SME sector development prospects, where the sector’s diversity, resilience, and flexibility strongly influence how development occurs. SME Compass combines official domestic and international data sources and tailor-made questionnaires with integrated insights from CEVES’ research in a way that is easily accessible and interactive.
Portal continually evolves with new data and features to help answer questions such as:
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What is the level of Serbia’s SME competitiveness?
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How does this level of competitiveness compare to other European countries?
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What are the drivers of SME competitiveness? Which factors are propelling, and which are constraining the sector’s development?
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Which sectors are likely to emerge as frontrunners?
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How does the SME sector cope with new transformational trends, including green and digital shifts?
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What are the development prospects of a given sector or region in the coming years, based on the strength and sentiment of enterprises?
About CEVES
CEVES stands as Serbia’s prominent economic think-and-do tank, striving for the socio-economic alignment of Serbia and the Western Balkans with the European Union. It is dedicated to promoting sustainable and inclusive economic growth and sound political economy that is entrepreneurially driven and adheres to the rule of law. CEVES’ particular emphasis is on developing the private sector, especially SMEs, accountable governance and responsible green transition.
The organization continues to advocate for developmental policy shift towards empowering the domestic SMEs, positioning them as ‘hidden champions’ and key drivers of economic growth.
Recognizing the growing importance of an emerging segment of high-performing manufacturing SMEs, CEVES has influenced the strategic approaches of international partners and the developmental initiatives of the Chamber of Commerce. CEVES continues to advocate for a shift in the country’s development policy focus towards the country’s SMEs, many of which are becoming true “hidden champions” and potential growth drivers.
Data analysis is integral to CEVES’ mission, with the organization being recognized for its data-driven and empirical approach to shaping policy and its advocacy efforts. Its data analyses are characterized by its rich detail, rigorous yet practical application of economic principles, and a unique ability to identify and communicate emerging economic patterns. The organization’s commitment to and methodology for data excellence are detailed further in the Data Excellence section.
Team behind SME Compass
SME Compass is led by Nemanja Sormaz and Pavle Medic, resulting from collaborative efforts among the CEVES SME team, various researchers, industry partners, and our alumni network.
We extend our gratitude to the Research team and our Alumni, with special mentions to Vladimir Jovanovic, XYZ…

Nemanja is a lead author of two foundational and innovative studies “Serbia’s Real Sector Performance” and “Supporting and stimulating growth of competitive industries – Development Potential Index”. He led an in-depth gap analyses of 1.000 firms of Serbia’s economy, through survey and interviews, with a goal to understand critical success factors of performance and competitiveness, as well as existing constraints that block the potential of firms in Serbia’s economy.
During his career, he has also gained very significant experience and knowledge as a special adviser to Mrs. Ana Brnabic, Minister of Public Administration and Local Self-Government, and Kori Udovicki, the Deputy Prime Minister of Serbia’s Government. He led a process of rightsizing of Serbia’s general government, while creating a holistic and clear picture about its structure, functionality and performance, with a goal to enable regular monitoring and measuring of its results, as well as the international benchmarking.

He started his professional career with a summer internship at the National Bank of Serbia in the Sector for Monetary Operations in 2018, after which has been employed in CEVES. He gained substantial experience working as an independent consultant for leading international and domestic organizations – the World Bank, the International Labor Organization, UNICEF, The Social Inclusion and Poverty Reduction Unit, the Union of Employers of Serbia and similar. Since September 2021, he is engaged at the Faculty of Law, University of Belgrade, where he works as a teaching associate for the subjects Principles of Economics and Financial Markets.
He graduated in Economic Analysis and Policy at the Faculty of Economics, University of Belgrade, and is currently in the process of writing a master’s thesis in the International Masters in Quantitative Finance (IMQF) program at the same faculty. He is also completing a master’s degree at the Law and Economics Module of the Faculty of Law, University of Belgrade.

Igor Kiso

Sanja Polovina

Bojan Janković
Quality Over Quantity
Data Excellence
Use and Permissions
The SME Compass serves as an open, complimentary resource designed to enhance knowledge of the SME sector in Serbia. We invite and support the collaborative use and dissemination of insights, visualizations, and data from the SME Compass. Should you reference these materials, please cite the source as follows:
“SME Compass powered by CEVES”; “http://www.SMEcompass.rs”.
Support Our Mission
SME Compass is made possible through the support of organizations that align with our mission to advance SME growth and prosperity. If you share our vision and are interested in contributing to the success of SMEs, we welcome you to reach out for more information on how you can support our mission.
Together, we can make a difference.
Contact Us
For inquiries about specific datasets, questions regarding our data, reports of any issues, or information on collaboration opportunities, the SME Compass team is ready to assist you. Please feel free to reach out to us via email at office@ceves.org.rs, and we will be pleased to provide the support you need.



