SARAJEVO, JULY 29 (ONASA) – The Federal Ministry of Development, Entrepreneurship and Crafts in the Budget of the Federation of BiH for 2024 provided funds in the total amount of 25,893,253 KM for seven projects intended for the development of entrepreneurship and crafts in the Federation of BiH.
After the public competition, which was implemented this year for the first time through an online platform, the Federal Ministry approved financial incentives for 481 beneficiaries.
These are the projects “Incentive for newly established small business entities”, “Incentive for the development of trades and related activities”, “Incentive for organizing business fairs”, “Improving institutional entrepreneurial infrastructure”, “Strengthening the competitiveness of SMEs”, “Building entrepreneurial zones”, and the project that is being implemented for the first time “Support for SMEs in the IT sector”.
This year’s most significant project is “Strengthening the competitiveness of SMEs”, for which almost 16.4 million KM has been provided, and it refers to support for 193 entrepreneurs. The funds are intended to strengthen competitiveness and encourage the growth of innovative and export-oriented small and medium-sized enterprises, through the technological modernization of business processes, the introduction of quality standards and the improvement of energy efficiency in accordance with the transition to a green and digital economy.
For the first time this year, the project “Support to SMEs in the IT sector” is being implemented, for which 1,169,709 KM has been provided. The funds are intended to strengthen competitiveness and stimulate the growth of small and medium-sized enterprises in the IT sector, through the technological modernization of business processes, and the promotion and stimulation of investments in research and development.
The goal of the financial incentives for these projects is to support the organization of the most important business fairs in the Federation of BiH, which promote and encourage the development of entrepreneurship and crafts, as well as the provision of development-research and technical-technological services, as well as the provision of knowledge about digital trends and guidance in preparing for the digital transformation of entrepreneurs. . Also, the support is aimed at attracting investments, networking and market expansion, as well as the development of entrepreneurial support institutions, raising the competitiveness of entrepreneurs, as well as co-financing approved EU projects that support the development of entrepreneurship.
The funds will also be directed to the construction of new and improvement of existing infrastructure, as well as the improvement of services in business zones, as a prerequisite for economic growth and employment at the local level in FBiH. The costs of purchasing equipment necessary for expanding and modernizing businesses, as well as improving craftsmanship and increasing product quality and employment growth, will be co-financed. The goal is also to increase the number of newly established small business entities.
Support to the Federal Ministry in the implementation of these programs is provided by UNDP, through the program “Translation of the framework for the realization of sustainable development goals, as a basis for sustainable and inclusive growth in BiH”, a joint initiative financed by Sweden, implemented by UNDP in partnership with UNICEF and UN Women, as part of the UN’s support to the authorities in Bosnia and Herzegovina in the implementation of the Framework for the realization of sustainable development goals.
The Federal Ministry of Development, Entrepreneurship and Crafts in the next two days, at the headquarters of the Government of the Federation of Bosnia and Herzegovina in Sarajevo, will organize the signing of a contract on the allocation of financial incentives for the development of entrepreneurship and crafts in the Federation of Bosnia and Herzegovina with 481 beneficiaries. (end)