Government prepared plan to help enterpreneurs - Take a look what Draft of the Strategy for support to development of SME sector from 2015 to 2020 brings

The plan of the Government of Serbia an is to increase the number of SMEs from current 315.000 to 350.000 by 2020, number of employees from current 768.000 to 950.000 and that they generate more than 3% gross domestic product (GDP), it was said today at the Serbian Chamber of Commerce during presentation of the Draft of Strategy for SMEs’ development support.

Namely, after months of intensive work in cooperation with the interested parties, the Ministry of trade prepared the Proposal of Strategy for support to development of SMEs’, entrepreneurship and competitiveness for the period from 2015 to 2020. The Strategy also comprises the Action plan for the entire period and the Implementation plan for 2015 with forecasts for 2016.

Upon presentation of the strategy draft, the assistant minister of trade, Katarina Obradovic Jovanovic said that this is the first, out of three documents for support of SME’s development and expressed expectation they will be adopted in early 2015.

The plan of the Ministry of trade is that Serbia per index of global competitiveness of the World Economic Forum ranks among first 60 in the world, from current 94th, she said.

The objective of the Strategy, according to her, is that SMEs sector has more available funding sources and that the index ranks it among the first 60 countries in the world compared to today’s 110th position.

The assistant minister of trade added the Strategy comprises continuous human resources growth and support to education.

The reason for the preparation of the Strategy is, among other things, alignment of EU normative, Obradovic Jovanovic said and explained that during development of the Strategy they consulted relevant institutions and vocational association of trade.

Importance of SME sector

Out of total number of legal entities in Serbian economy, today almost 99,8% are small and medium enterprises, which make 34% of GDP in Serbia, the acting president of the Serbian Chamber of Commerce, Vlatko Jovicic said.

The ministry of trade officially announced that the task of the new Strategy is to define in a consistent way a framework of measures for support of SMEs and entrepreneurship development in the mid-term and predicts the ways to implement it.

All planned measures are contained in 6 pillars of the Strategy and each one of them defines the future action plan of the Ministry. These are: business environment development, funding sources access development, continuous human resources development, strengthening of sustainably and competitiveness of SMEs and entrepreneurship, development of access to new markets and development and promotion of entrepreneurial spirit and support to women’s entrepreneurship, the youth and social entrepreneurship.

Over 40 institutions will participate in the Strategy implementation and they should provide through mutual work that by 2020 the number of SMEs and entrepreneurs in Serbia increases for over 30.000, to open 180.000 new vacancies in this segment as well as that SMEs and entrepreneurs generate business and export scope increase.

If you want to have a look the entire text of the proposed Strategy