Entrepreneurship in Conditions of Digital Business Transformation

Abstract

Abstract: An entrepreneur is a holder of a small business. According to the number of registered, this form of business organization significantly exceeds the companies in the current active status. They represent companies of persons who, although they carry an increased business risk, have a number of dominant advantages. Different types of activities are organized as entrepreneurial activities, agencies, bureaus, and not as companies, because the legal procedure is simpler and the holder of the business is mostly one natural person, so there is no need to pool capital. A large number of entrepreneurs have been operating on the market of the Republic of Serbia for years, which indicates the fact that companies also deal with long-term business strategy. In a turbulent economic environment, entrepreneurs had to adapt to various changes. The biggest change that started in 2014 is electronic communication and business with the Tax Administration. This process was only an introduction to the period of transition of the entrepreneur in which he will have to make a decision and strategy, how to overcome and enable business that is unknown to him, and explicitly imposed as the only solution. Modernizing and adapting the corporate business to changes in business is not a big deal, but every innovation that includes digitalization and electronic communication is a great effort for most entrepreneurs to overcome it, because problems arise due to lack of trained people and financial opportunities to support adaptation to new business conditions. In this paper, I will show what problems an accounting agency in the form of an entrepreneur faces in the conditions of digital transformation, not only through its own business, but also through the business of its clients. The aim of the research is to get acquainted with the problem of long-term business of entrepreneurs in an unstable economic environment in the form of imposed digitalization of business, which necessarily entails entering the zone of the unknown, but also a large financial burden in overcoming it. Methodological procedures in the form of surveying entrepreneurs and analysis of financial indicators should provide an answer to the main problem and subject of research, which is what options and tools are available to the entrepreneur in creating a strategy of survival in market competition and overcoming imposed and legally binding tasks. The research generated a primary conclusion, which is that it is certainly an acceptable option for younger entrepreneurs to include in the modernization of business processes by applying their own technological knowledge. Older entrepreneurs are mostly considering the option of including the heir in the family business, or in the absence of it, leaving entrepreneurship, which is certainly the most unfavorable outcome for both the economy and the entrepreneur, because he can still do his primary job with greater expertise than younger beginners.