Call for Applications Announced – Finance Minister Explains Who Should Apply

The Ministry of today Economy has announced a public call within the Entrepreneurship Development Program through financial support for women's entrepreneurship

Call for Applications Announced – Finance Minister Explains Who Should Apply

The Ministry of today Economy has announced a public call within the Entrepreneurship Development Program through financial support for women's entrepreneurship

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Vice Prime Minister and Minister of Finance, Siniša Mali, who, under the authorization of the Prime Minister, carries out the role of minister, stated that the goal of the program is to provide support for the establishment and further development of women's entrepreneurship.

"For the implementation of this program, we have allocated 600 million dinars in non-repayable funds, which is six times the amount compared to the previous year," minister Mali said, reminding that the previous call for proposals for a program aimed at women and young people had allocated 100 million dinars.

He also mentioned that now the amount of non-repayable funds goes up to 50%, which is the highest percentage across all entrepreneurship support programs. "We want to empower women to venture into entrepreneurship, to start and continue developing their businesses. Through systematic support for women's entrepreneurship, we encourage the strengthening of the small and medium-sized enterprise sector, which is the backbone of our economy's development and whose progress is a priority for every economy," minister Mali said.

The support represents a combination of 40% non-repayable funds and 60% favorable loans from the Development Fund, as well as 50% non-repayable funds and favorable loans from the Development Fund for economic entities operating in less developed municipalities classified in the third or fourth group of development.

The funds are intended for the procurement of equipment, transportation assets necessary for conducting activities, ongoing maintenance, and adaptation of business and/or production space, and 25% of the funds can be used for operational expenses.

The maximum amount of credit and non-repayable funds that female entrepreneurs can apply for is six million dinars, or 12 million dinars for female entrepreneurs registered before 2021 who employ at least five employees as of December 31, 2022, and who can additionally apply for the purchase of business or production space.

The Ministry of Economy and the Development Fund have been successfully implementing women's entrepreneurship support programs since 2021.

Female entrepreneurs applying for funds can turn to accredited regional development agencies for free advisory and technical assistance regarding the call for proposals, and beginners are offered free training for starting a business (https://preduzetnistvo.gov.rs/mapa/).

The call for proposals is open until funds are exhausted, and all information and necessary documentation can be found on the entrepreneurship portal www.preduzetnistvo.gov.rs, as well as on the Ministry of Economy website www.privreda.gov.rs and the Development Fund website: www.fondzarazvoj.gov.rs.