EU funded project of support to SMEs helped in creation of more than 110 new jobs

Created: 30. 05. 2016.

The Final Conference of the EU funded project "Support to development of fast growing small and medium enterprises (SMEs) and local business environment- FGSMEs" was held today  in Sarajevo. Results of the project were presented at the conference, with special emphasis on the development methods and tools developed within the project, which can be used by other local communities and relevant institutions. The project is unique in the identification of fast growing SMEs and defining the high potential of employment in certain sectors of small and medium entrepreneurship.

The project has supported 35 SMEs and helped in creation of more than 110 new jobs. Among its most significant achievements were the establishment of the Business Boost Centre (BBC), Business Accelerator, launch of the project website with the database of all SMEs at the BiH level (;, providing grant and consulting support for 11 fast growing SMEs, consulting services for 4 companies of Sarajevo macro region, mentoring program for 20 start-ups. Furthermore, the project developed Action plans for the three partner municipalities, Guidelines for the preparation of action plans for the development of SMEs, Brochure on business performance of SMEs in the municipalities of Sarajevo macro region for the period from 2012 to 2014, Export catalogue of SMEs, etc.

The project also worked on strengthening the export potential of SMEs through the visit to the Hannover Messe 2016, and was awarded with the international recognition "Creators of the Century" for its contribution to the development of entrepreneurship in Central and Eastern Europe in 2015.

Conference was attended by representatives of SMEs, the EU Delegation to Bosnia and Herzegovina, Mayors of Novi Grad Sarajevo, Ilijaš and Vogošća, and other representatives of public and private institutions.

The total project value is EUR 520,670.00 of which EUR 441,470.00 was financed by the EU from IPA 2011.The project was implemented in the past 30 months by Sarajevo Economic Region Development Agency SERDA in cooperation with local partners: Municipalities Ilijaš, Vogošća and Novi Grad Sarajevo and The association of Business Consultants -LESPNet. 

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