Minister of Economy and Regional Development Nebojsa Ciric said yesterday that the key problem with which SMEs are faced in Serbia is access to financial resources.
Opening the 7th international conference on SMEs “Financing Innovation and SMEs”, Ciric stressed that more favourable financing sources are essential for the development of SMEs.
This is crucial for progress in a sector that envelops 99.8% of all companies in Serbia and hires two thirds of workers, the Minister observed.
He stressed that SMEs in Serbia, especially since the end of 2008, have had a hard time finding sources of financing, with new companies and innovative firms experiencing the greatest problems in obtaining funds.
The goal of this conference is to present the mechanisms and special financing programmes implemented by the Serbian government in order to support the SME sector.
Ciric voiced his expectation that at today’s workshops and panel discussions, representatives of SMEs and the financial sector will be able to speak up about the results so far and propose further improvement of the business climate.
The relevant Ministry will use the conclusions and recommendations from the conference as guidelines for the improvement of the SME development policy.
Deputy Prime Minister of Economy and Regional Development Verica Kalanovic said that access to financing sources is a key to resolving problems in this sector.
SMEs are faced with a number of difficulties, such as high interest rates, short repayment periods, guarantees and other complicated procedures, she observed.
Kalanovic concluded that SMEs in Serbia and in the majority of European countries must become the bearers of economic and overall social development.
German Ambassador to Serbia Wolfram Maas underlined the importance of SMEs for the country’s economy, adding that 85% of businesses in Germany are located in this sector.
A competitive economy is an indispensable precondition for EU accession, he added.
The official opening of the conference was also attended by EU director for the Promotion of the Competitiveness of SMEs at the DG Enterprise and Industry Joanna Drake.
Over 300 representatives from the SME sector, state organs, the banking sector and international institutions are participating in the conference.
The conference is organised by the Ministry of Economy and Regional Development, the German Organisation for International Cooperation (GIZ) and the National Agency for Regional Development (NARR).
It is organised as part of the European Commission’s initiative “European SME Week 2011.”
(Government of Serbia)
