Subsidies to Entrepreneurs in Underdeveloped Municipalities in South Serbia

18. October 2012.

Source: Pregled / Bujanovac – This year, the government will support the development of entrepreneurship in Bujanovac, Presevo and Medvedja with 40 million dinars. Most of the grant is intended for small businesses in Bujanovac - 17 million dinars. The owners of small businesses in the municipality of Presevo may count on the subsidies amounting to the total of 15 million dinars, and those in Medvedja to eight million dinars. The development of agricultural cooperatives in the three municipalities, as well as entrepreneurship and primary agricultural production, will be financed with 20 percent of the total sum, which amounts to eight million dinars. Most of the money is provided for the financing of small and medium-sized enterprises and entrepreneurs in this part of Serbia, that wish to expand their business operations and create new jobs.

By this program, the Government of the Republic of Serbia wants to assist with the economic development of the underdeveloped three municipalities in South Serbia: to encourage an increase and improvement in the production of small businesses and agricultural cooperatives, so that the entrepreneurship in this area could become competitive and, at the same time, enable the hiring of more employees or lessen an extremely high unemployment rate, so that a significant potential for local food production could be used, export production could be enhanced and entrepreneurship and cooperatives from South Serbia could come onto the national and international market.

This program is implemented by the Coordination Body of the Government of the Republic of Serbia for the Municipalities of Presevo, Bujanovac and Medvedja, in cooperation with local self-governments of the three above-mentioned municipalities.

Small and medium-sized private enterprises, cooperatives and entrepreneurs that want to increase their breeding stock, buy the equipment to modernize their farms and produce more meat or milk, expand their orchards and purchase agricultural machinery may apply for the government’s subsidies, the open competition for which was recently announced. The grant funds may also be used for the purchase of the equipment for launching new and expanding the existing production, achieving quality production and getting into new markets. The owners of small businesses will finance the subsided projects with 30 or 40 per cent of the funding.