The Ministry of Economy has announced three public calls, based on which 600 million dinars of non-refundable funds will be made available to economic entities to encourage entrepreneurship through three support programs – development projects, starting a business, and supporting women entrepreneurs and young people.
Public calls for these support programs were announced on January 24, 2022. and will be open until the funds are spent.
Information and documentation for all three support programs are available on the website of the Ministry of Economy.
INCENTIVES FOR ENTREPRENEURS
Entrepreneurs, micro, small, and medium business entities and cooperatives registered with the Business Registers Agency, which have not operated in the previous two years with a loss and meet the requirements of the Program, have the right to apply for the Public Call for Grants and a loan with the Fund.
The amount of non-refundable funds may not be less than 75,000.00 dinars for entrepreneurs, 250,000.00 dinars for legal entities, nor more than 12,500,000.00 dinars for all economic entities.
The repayment period for legal entities is up to ten years, with a grace period of up to one year, and for entrepreneurs up to eight years, with a grace period of up to one year. The loan repayment period cannot be shorter than two years from the day of concluding the contract, including the grace period, in case of loan repayment within a period shorter than two years, the business entity is obliged to repay the grant.
The interest rate, with the application of the currency clause, is 1% per annum with a bank guarantee and 2% per annum with other collateral.
The public call is open until the number of requested grants exceeds the number of available funds for the implementation of the Program increased by 25%, which is the average percentage of rejected and dropped requests in previous years, and no later than December 31, 2022.
