SME HUB supported nine SMEs in its first year of operations, with each of them going through a comprehensive support programme that included grants and expert assistance, reveals SME HUB Director Aleksandar Goračinov
This is a win-win situation, as SMEs receive opportunities for growth and development through the SME HUB project, while large companies gain concrete business benefits, strengthening their market position and supply chain, says Goračinov, who provides a detailed overview of the project.
The SME sector is among our economy’s most important segments, but it still requires additional support. Is this why the SME HUB project was launched?
— SMEs are the backbone of the domestic economy, accounting for more than 90% of all businesses in Serbia. Their contribution to employment and GDP is significant, but they also face numerous challenges, particularly in terms of business development, digitalisation, and in gaining access to other markets. The entire SME sector is vital to the development and sustainability of every economy, including ours, but it needs further support to be able to fully realise its potential. We have witnessed this potential, both as a country and as entrepreneurs, through our SME HUB project, which was launched precisely for this reason.
SME HUB is a public-private partnership project between the Government of Switzerland, represented by the Swiss Agency for Development and Cooperation (SDC), and Serbian company ICT HUB.
Our budget is seven million Swiss francs and our goal is to provide comprehensive support to small and medium-sized enterprises. The project is designed to provide Serbian manufacturers and SMEs with grants, on the one hand, and expertise and resources in the form of development, mentoring, education, business digitalisation, certification, management professionalisation and process optimisation, on the other.
The project’s financial support, ranging from between 50,000 and 100,000 Swiss francs, was tailored to the needs of each company and intended to implement transformation activities
The main objective is to prepare them to enter the supply chains of large domestic and foreign companies, or – in the case that they’re already in such chains – to further develop, expand their cooperation, employ more people and boost their revenue.
What kind of support and financial assistance were received by the nine SMEs that you supported in the project’s first year?
— Experts and consultants engaged within the project – covering areas like digitalisation, financial management and HR management – worked with the SMEs involved in the project to find solutions for their development. This is crucial to the optimisation and standardisation of their operations and the establishment of systems able to satisfy the demands of the market. The financial support, ranging from between 50,000 and 100,000 Swiss francs, was tailored to the needs of each company and intended to implement transformation activities. The scope and value of the transformation depended on the complexity and scale of services required by the SMEs.
How much interest in participating in this project exists among multinationals and large domestic companies?
— The benefits for them are clear. One of the main advantages is the diversification of their supplier portfolio, giving them more procurement options and reducing the risk of supply chain disruptions. Large companies need reliable and adequate suppliers that can standardise their operations and deliver goods at the right time, place, and price, without any risks. The SME HUB project has also allowed large companies to advance their CSR activities. By collaborating with SMEs, they strengthen these enterprises, but also the communities in which they operate and the entire ecosystem.