Serbian Entrepreneurship Foundation

Commissioned by: German Federal Ministry for Economic Cooperation and Development (BMZ)

Partners: Chamber of Commerce and Industry of Serbia , Serbian partner banks (Halk Bank, Procredit  Bank, Erste Bank, 3 Bank, NLB Komercijalna Banka, OTP Bank  )

Project period: 2019 – 20

• The banking sector restrains granting loans to beginners in the business
• Limited access to finance is the main constraint for further development of entrepreneurship
• Beginners in business lack financial literacy in doing their business
• Without continuous support of experts, beginners in business have small chances of surviving.

Poboljšanje pristupa startap kompanija, mikro malih i srednjih preduzeća (MSP), preduzetnika i registrovanih poljoprivrednika adekvatnim finansijskim proizvodima, podsticanjem banaka i nebankarskih finansijskih institucija da pružaju finansijske i nefinansijske usluge ovom segmentu klijenata.

Ova inicijativa bi zauzvrat trebalo da generiše i/ili poveća zaposlenost, poboljša životni standard i ublaži siromaštvo i time doprinese održivom rastu Republike Srbije. Najnovija opštinska kreditna linija fokusirana je na promociju opštinskih investicija u energetsku efikasnost i mere zaštite životne sredine.

Da bi ostvarila svoje ciljeve, Fondacija obavlja razne aktivnosti, uključujući, ali ne ograničavajući se na sledeće:

• Osiguravanje bankarskih garancija finansijskim institucijama
• Osiguravanje obuka i tehničke pomoći bankama i nebankarskim finansijskim institucijama, drugim pružaocima usluga i subjektima za razvoj poslovanja, kao i podrška partnerima u implementaciji, uzimajući u obzir cilj Fondaciji
• Uspostavljanje saradnje sa drugim sličnim organizacijama u Srbiji i inostranstvu
• Pokretanje projekata u cilju promocije preduzetništva i samozapošljavanja

Improving the access of start-ups, micro small and medium enterprises (MSMEs), entrepreneurs and registered farmers to adequate financial products, by encouraging banks and non-bank financial institutions to provide financial and non-financial services to this client segment.

This initiative should in turn generate and/or increase employment, improve the standards of living and alleviate poverty and thereby contribute to the sustainable growth of the Republic of Serbia. The latest municipal credit line focuses on the promotion of municipal investments in energy efficiency and environmental protection measures.

To achieve its objectives, the Foundation, performs various activities including, but not limited to the following:

• Providing bank guarantees to financial institutions
• Providing trainings and technical assistance to banks and non-bank financial institutions, other service providers and business development entities, as well as support to implementing partners, taking the objective of the Foundation into account
• Establishing cooperation with other similar organizations in Serbia and abroad
• Initiating projects with the purpose of promotion of entrepreneurship and self-employment

• SEF started three programs funded by KfW on behalf of the German Government: the Start-up Facility and special window for the most effected MSMEs by Covid 19 (finished), and Guarantee scheme for MSMEs in Rural areas
• 2,700 start-ups and ca. 850 of the most Covid effected MSMEs have been supported through this project.