International economic and business environment have experienced rapid increase of the dynamic of its development, a situation which was further supported with the technological innovation spike in the 1990s. The global economy entered an especially deepening face in its globalization process with the process of market deregulation and global liberalization which was developing as a result of the establishment of the IMF, World Bank and the General Agreement on Tariffs and Trade (later WTO). International business entered the Western Balkan economies by acquiring domestic assets, with the most common form being acquisition. Already existing companies from the former system in most attractive industries, were the ones on which companies got the most. Western Balkan region has potential to become more attractive for international business and domestic and foreign investments. But the business environment and factors supporting business need to be improved. Considering the trends of globalization, its appearance must be recognized as a challenge for the opportunities it offers to the development, growth and welfare especially in the countries in transition.