The program for encouraging the development of entrepreneurship through financial support for start-ups in business in 2020 is implemented by the Ministry of Economy in cooperation with the Development Fund of the Republic of Serbia.

The total grants available for the implementation of the program amount to 150,000,000.00 dinars. The remaining amount of investment of the business entities will be financed from the Fund’s loan.

Entrepreneurs, micro and small companies that have been registered with the Business Registers Agency for at least two years before the year of application, have the right to apply for the public call.

Business entities that meet the requirements of the Program may qualify for financial support in the form of grants of up to 30% of the investment value, or up to 40% of the investment value for the businesses belonging to the local self-governmental units that are classified in the fourth development group in accordance with Article 12 of the Law on Regional Development and the Government Act establishing a single list of the development of regions and local self – governmental units. The remaining amount of the investment will be financed from the Fund’s loan with a repayment period of up to 5 years, within which the grace period is up to one year, with an interest rate of 1% per annum, including a bank guarantee, or 2% per annum with other collateral, including the use of a currency clause.

The amount of the total funds approved on request may not be less than 400,000.00 dinars, nor more than 6,000,000.00 dinars for all economic entities.

Investments that may be funded under this Program include:

– Ongoing maintenance of business or production premises of up to 350,000.00 dinars;

– Purchase of the equipment (new or used, not older than five years);

–          Operating costs, which can account for up to 20% of the total investment structure.

Priority will be given to the requirements of business entities whose founders have undergone free training on starting a business under the Standardized Service Set Program for SMEs, which was implemented through the accredited regional development agencies.

The accurately filled in consolidated application for start-up loans and grants, along with the supporting documentation, is to be submitted to the Fund at the following addresses: Bulevar Nemanjica 14a, Nis and Knez Mihajlova 14, Belgrade.  

The public call will be open until the available funds are spent, but not later than December 31, 2020.  

The call’s documentation and information on all relevant elements and rules for participating in the public call can be downloaded from the Ministry's website:  https://privreda.gov.rs/javni_pozivi/javni-poziv-za-dodelu-bespovratnih-sredstava-u-okviru-programa-podsticanja-razvoja-preduzetnistva-kroz-finansijsku-podrsku-za-pocetnike-u-poslovanju-u-2020-godini/

Source: Ministry of Economy and Coordination Body