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ENTREPRENEURSHIP AND SELF-EMPLOYMENT PROMOTION PROGRAM PRESENTED

21. November 2019.

Leskovac - The Entrepreneurship and Self-Employment Promotion Program, implemented by the Office for Public Investment Management, in cooperation with the Ministry of Economy and the Development Fund and with the support of the German Development Bank, was presented at the Regional Chamber of Commerce of Jablanica and Pcinj Districts. The program includes a free five-day training in preparing business plans, favorable bank loans and grants.

Newly established entrepreneurs, farms, micro and small companies that are less than two years old, as well as those interested in starting their own businesses, have a new national program at their disposal, which, as a comprehensive support, should be a strong development stimulus for the Serbian economy.

The program adopted by the Government of the Republic of Serbia is the result of the activities defined in the Memorandum of Cooperation with the German Development Bank. The idea is to provide small and microbusinesses and farmers who have not been able to get a loan so far, this kind of financial support, or to give the opportunity of start-ups to anyone whose business is beginning to operate or just about to start.

Applicants will first receive a five-day in developing a business plan at the Chamber of Commerce, which is a prerequisite for applying. They, then, report to commercial banks in which they apply for a loan and a subsidy intended for those who regularly settle their loan obligations, in the amount of 20 percent of the total investment. The grant may not exceed 360,000 dinars.

Favorable bank loans will be granted for investing in the equipment, machinery, plants, seedlings, the purchase or adaptation of production and business premises, while entrepreneurs are not restricted in their choice of the activity or branch of industry in which they will be operating. This also applies to trade or service activities. Loans can also serve as working capital, with a maximum amount of 3.6 million dinars per loan request.

Partner banks are Raiffeisen, UniCredit and Postal Savings Bank, which significantly extends the availability of support. The program is, in short, a solution for business people and beginners in business with good business ideas who have, so far, not exercised the right to loans or qualified for a different financing of their projects.

Program information and documentation required for applying can be downloaded from the websites of the Ministry of Economy and the Serbian Chamber of Commerce.  

Source: South Serbia Journal and Coordination Body