soonix already pointed out the issue around . and .. directory traversals. You'll need to keep track of visited directories to avoid looping over them again. There's also one more path that you can look into:

$searchfile =~ /^\.svn$/;
print "$searchfile\n";
rmdir $searchfile;
if ( -d $searchfile) {
    &traversedir($searchfile);
} else {
    last;
}
[download]

Now, this is not necessarily a problem - but you are not really checking for .svn folders, merely matching and overwriting the $searchfile variable. What do you think would happen if there were no match? :-)

That said, what's wrong with just doing svn export $srcFolder $targetFolder? It doesn't look like you're doing it as an exercise (those vhdl, rtl, sim folders?) If you have svn installed, you already have this tool at your disposal. Why reinvent the wheel? :-)