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The Serbian government passed a decree that encourages entrepreneurship by subsidizing 30 percent of total investments for all those who start a business, while those who take their first entrepreneurial steps in underdeveloped areas will receive 40 percent of state aid, as Blic Business has learned.
This practically means that whoever starts his own business of, for example, three million dinars, will receive 900,000 from the state, while that amount will be 1.2 million dinars if the entrepreneur starts his business in an environment characterized by being underdeveloped.
Those who intend to invest at least 400,000 dinars up to a maximum of six million will be able to request this money. It should be noted that the control of this program will be great and if it is determined that it has been misused, the money from the subsidies must be returned.
An example with a 30 percent subsidy
loan / grant / total
280,000 / 120,000 / 400,000
4,200,000 / 1,800,000 / 6,000,000
For this purpose, 150 million dinars are foreseen in the budget, and in addition to that money, they have been provided with credit funds from the Development Fund on highly favorable terms. In other words, they will be able to get the remaining money to start a business from a loan, for five years, with a grace period of one year and an interest rate of 1 percent with bank guarantee, or two percent with other guarantees. . .
To distribute these funds as fairly as possible, a contest will be announced soon.
A source from “Blic” of the Government says that the state decided on this type of aid also this year, because it was estimated that it is the most difficult for beginners to contribute money to start a business and that the conditions are now more favorable. than in previous years.
The benefits are mainly related to the amount of interest, which has now been reduced from 1.5 to one percent with a bank guarantee, or two percent instead of the previous three with other guarantees.
Credit conditions
– 5 year amortization – 12 month grace period
– Interest rate of 1% per year with bank guarantee
– 2% interest rate with other guarantees
-This determination of the state aims to help small companies in addition to the subsidies that are given to large investors. Special care will be taken to assist young people and women, as well as beginners, and a special program has been defined for the purchase of equipment in small and medium-sized enterprises. The money for these purposes is foreseen in the budget for 2021, and its distribution will be made by the Ministry of Economy, which is also the promoter of this program – says our interlocutor.
He adds that the criteria for approving money are clearly defined within the beginner grants.
– The investments that will be subsidized refer to the expansion, that is, the reconstruction of the commercial premises, the purchase of equipment, new or used, but not older than five years, as well as the provision of permanent working capital. The government has estimated that this combined form of beginner assistance, grants, and soft loans can significantly encourage people to start their own business in crowning times, explains our source.
As he adds, it is not a small thing for someone to give you 30 or 40 percent of the total investments, especially since they are small companies.
The Government of Serbia confirmed for “Blic Biznis” that in the last session, the Government approved a decree on the determination of the program to promote the development of entrepreneurship through financial aid for beginners in 2021.
– Out of a total of two billion allocated for the support of business development projects, 150 million are planned to encourage beginners. In addition to this decree, those that define the conditions and the amount of incentives for the purchase of equipment in small and medium-sized companies, for young entrepreneurs and women, but also business development projects in 2021 were approved. For each of They have defined detailed conditions, and all those who are interested and comply with them, should contact us when the contest is announced. The program is implemented by the Ministry of Economy in cooperation with the Development Fund – say in the Government of Serbia.
Who is not entitled to grants?
- entrepreneurs engaged in primary agricultural production
- commercial activity except bakeries and pastry shops
- gambling and similar activities
- arms production and trade
- trade in petroleum and petroleum products
- production of steel and synthetic fibers and coal mining
- construction, except construction products and construction handicraft services
- transportation and traffic
- financial services, marketing and consulting services, market research and public opinion polls
- production of tobacco and tobacco products
- rental and leasing activities, except tourism
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