A new support program in Serbia is offering financial assistance and training to aspiring entrepreneurs, aiming to foster small business development across the country. This initiative, implemented by the Serbian Chamber of Commerce in collaboration with the Serbian Foundation for Entrepreneurship, is supported by the German government and the KfW Development Bank. The program targets newly established entrepreneurs, micro and small enterprises up to 36 months old, and individuals who are planning to start their own businesses.
The program provides a comprehensive package that includes free professional training, advisory assistance, loans up to 30,000 euros, and grants up to 3,000 euros. Participants are enrolled in a five-day training course designed to help them create a viable business plan. This training covers essential business skills such as market research, financial projections, and the use of strategic tools like PESTEL analysis, SWOT analysis, and the Business Model Canvas.
Since its inception, the program has conducted 13 training sessions, benefiting 130 participants. These sessions are crucial in helping participants not only secure funding but also develop the necessary skills to sustain their businesses. After completing the training, participants are eligible for loans through six participating banks, including Halkbank, ProCredit Bank, 3Bank, Erste Bank, NLB Komercijalna banka, and OTP Banka. These loans can be used for various business needs such as purchasing equipment, adapting business premises, or covering operational costs.
Success stories from participants highlight the program’s impact. Bojan Bojović from Auto Servis Bojs emphasized the significant financial support and the value of the business plan training he received. He praised the professionalism and accessibility of the trainers, noting that the guidance provided was instrumental in advancing his business. Similarly, Zorica Vukić from Pure d.o.o. Beograd found the practical approach of the training particularly beneficial, enabling her to independently create a business plan and prepare for discussions with banks.
The program also offers additional incentives for successful loan repayments. Participants who repay their loans are eligible for non-repayable funds amounting to up to 20% of their total investment, capped at 3,000 euros. This incentive aims to encourage responsible financial management and further investment in their businesses.
Mirjana Cvetković, owner of Proizvodnja torti i kolača Mika, shared her experience, highlighting the importance of the training in realizing her business idea. She appreciated the detailed explanations provided by the trainers and the opportunity to have her questions addressed comprehensively. Marko Đumić, owner of Serendipity Bridal House, also benefited from the program, particularly valuing the knowledge gained for effective business management.
While the program presents significant opportunities for aspiring entrepreneurs, its long-term effectiveness in ensuring business success remains to be fully assessed. The initiative builds on previous efforts in Serbia to support entrepreneurship and small business growth, reflecting the country’s ongoing commitment to economic development through innovation and enterprise support. However, the ultimate success of the program will depend on various factors, including the broader economic environment and the participants’ ability to apply the skills and knowledge acquired through the training.
