SME HUB provides support to local firms to strengthen their positions as global suppliers. Launched in 2023, this initiative will run until 2027 with a fund of 7 million Swiss francs.
The goal is to help small and medium-sized enterprises (SMEs) undergo organizational transformation and enhance their potential to further develop and become more competitive players on the global market.
In its first year, 60 local companies expressed interest in SME HUB, with nine entering the process of organizational transformation. These nine SMEs collectively contribute more than €5.5 million annually to Serbia’s state budget.
To date, SME HUB has launched five cycles of grants, offering up to €100,000 in non-repayable funds per company. These grants are designed to improve business performance and achieve standards necessary for the global market and collaboration with large domestic and multinational companies. Additionally, SMEs participating in the transformation process can apply for favorable loans through a credit-guarantee scheme exclusively available to SME HUB participants.
The credit-guarantee scheme, valued at €4 million, was initiated by the Swiss Agency for Development and Cooperation and the Serbian Entrepreneurship Foundation. It allows companies to apply for loans of up to €250,000 for liquidity and investments, under more flexible conditions.
The next cycle for awarding non-repayable financial support for the business transformation of SMEs in Serbia is planned for February. Interested companies can apply through the SME HUB website under the “Become a Supplier” section.
Photo: DDM Metaling