Belgrade, 13 August 2020

The Kingdom of Norway Supports Entrepreneurs and Small Businesses in Serbia with More than Half a Million Euros

As a result of these activities, it is expected to employ at least 70 people through the improvement of the operations of existing companies and the establishment of new business entities.

The Kingdom of Norway, through the project "Norway for You - Serbia", supports 68 entrepreneurs, micro and small businesses in lesser developed municipalities in Serbia with more than 525,000 euros to improve productivity and create new jobs. As a result of these activities, it is expected to employ at least 70 people through the improvement of the operations of existing companies and the establishment of new business entities.

This support was approved within the conducted Public Call which aims to contribute to a more balanced socio-economic development through increased employment opportunities and social cohesion in lesser developed areas.

"In the coming years, Norway hopes for significant progress in Serbian society, which is in correlation with the priorities of our financial programs of support to Serbia, harmonized with Serbian priorities and the EU accession agenda. I would especially emphasize the importance of economic development, which is based on innovation, entrepreneurship, job creation and a more predictable framework for the functioning of the market," said Norwegian Ambassador to Serbia Jørn Eugene Gjelstad.

The total value of the projects implemented by 31 beginners in business is around 290,000 Euros, of which the Kingdom of Norway finances 247,000 euros, while future entrepreneurs participate with some 43,000 Euros. Support will be provided also to 37 micro and small companies in a total value of 365,000 Euros, of which the Kingdom of Norway allocates 279,000 Euros, while companies co-finance a total of 86,000 Euros.

"Support is focused on the purchase of certain equipment and machines, which is necessary for economic entities in order to improve business and hire new workers." In the upcoming period, we will work together with entrepreneurs and companies to meet the goals of the call ", said the a.i. Project Manager "Norway for You - Serbia" Milica Došenović.

Through the call that lasted from 21 May to 15 August 2019, those interested could submit a project proposal for the procurement of equipment or the introduction of services in the amount of up to 10,000 Euros, with the financial participation of the applicant. During the call, the project organized nine information sessions attended by 112 stakeholders.