Entrepreneurship is one of the most important categories that are now associated with small and medium-sized enterprises, employment and the creation of new jobs and new business category. Entrepreneurial behavior in finance implies a readiness to take risk and a taste for independence and self-fulfillment. It can develop in any sector of the economy and in any type of business. Through entrepreneurship strengthen personal resources - not only the material but also the motives of self-realization, freedom, independence, challenge. Large number of small and medium enterprises provide a huge range of products, and the customers or service users increased choice and lower prices. Considering that entrepreneurship represents the futurethis work is aimed to highlight the role the financial sector plays in its development. The authors suggest that the financial sector has very important role for the development of entrepreneurship, pointing to the different possibilities of cheaper funding development of guidelines for small and medium enterprises, but in other hand in some cases financial sector has negativ impact for growing through expensive sources of financing of development.

This paper aims to address key issues in maintaining financial system integration of Serbia in the European financial system, through inevitable structural changes in financial sector. The primary task of the NBS's policy in the previous years was to regulate the inflow of capital into the banking system in such a way that it supports, rather than impedes sustainable economic growth through its unchecked expansion. In the coming period supervision of financial institutions will be improved which is an important condition for stability of the financial system as a whole, and guarantee for timely and compatible integration in wider European financial system framework. Exchange rate volatility during the global financial crisis was the price Serbia had to pay for imported instability because of its new monetary framework adopted in 2006 (very similar to targeted inflation). This is in accordance with the principle of impossible trinity and general idea was the expectation that the fluctuating nominal exchange rate reinforces the adaptability and eases the effects of possible shocks. The authors` aim was to recognize effectiveness of implied measures in maintaining financial stability as guarantees for the further development of Serbian financial system and its integration in the European financial system.

This paper presents a set of measures and instruments which National Bank of Serbia has taken to prevent or at least ease the effects of global financial crisis on national financial system and support confidence in Serbian banking sector during the last two years. It describes the main drivers of global financial crisis and recognize their indirect impact on Serbian economy. Our aim was to recognize effectiveness of NBS monetary policy in maintaining financial stability as one of the potential guidelines and guarantees for the further development of Serbian banking sector. We found out that NBS activated both conventional and non-conventional measures and instruments of policy under Vienna Initiative and in relation to the arrangement with IMF. All these measures were very successful if we take in consideration that NBS was running last five years anti-cyclical policy and given that there were no serious liquidity problems and capital adequacy ratio for whole banking system is beyond required minimum even under performed stress tests.