The value of the Program is 1.6 million KM: the Ministry of Economy of the KS issued a call for technological modernization, digitization, business standardization, encouragement of female entrepreneurship and interest refunds
The Ministry of Economy of the Canton of Sarajevo published today on its website the Public Call for the second set of programs from the Annual Implementation Plan of the Small Business Development Program for the current year. The subject of the call is the submission of applications from small business entities based in Sarajevo Canton to exercise the right to incentive grant funds to subsidize part of the eligible costs.
These are interest refund programs on loans from commercial banks for loans from the previous two years, then reimbursement of costs invested in technological modernization, digitalization of business and introduction of quality standards, and subsidizing the costs of technological modernization and business standardization. In addition to these three programs, the Public Call also refers to a program to support the development of women’s entrepreneurship.
The Minister of Economy, Adnan Delić, explained that the subsidy programs – interest refunds and costs of modernization, digitization and standardization of business are aimed at stabilizing business, but also encouraging the improvement and expansion of production and business activities in the category of small businesses.
“Our goal is to encourage businessmen to work on expanding their production and business activities, and through these programs we have provided direct grant support, but also an indirect incentive for the development of our economy, through the criterion by which we finance part of the costs for the purchase of machines, tools, software… We ask that everything that can be produced or procured in Bosnia and Herzegovina be from our country. Only what is not produced or has no distributor in our country, we accept as a justified cost. This is another way to encourage the purchase and use of our domestic products”, said Minister Delić.
Subsidization – refunding the costs of technological modernization, application of quality standards and digitalization of business involves applying to the Public call for subsidies, i.e. refunding the costs of purchasing machines, equipment for the application of technical norms and quality standards, which must be documented by a contract, fiscal account or invoice.
The estimated budget for these two programs is about one million marks, and the maximum amount per business entity is up to 20,000 KM.
The program to support the development of women’s entrepreneurship includes subsidizing eligible costs incurred after the publication of the Public Call for starting new and maintaining existing production and jobs, up to 50 percent, that is, per individual application, the amount of grant funds is up to 15,000 KM. The total funds provided for this program amount to half a million KM.
The public call for these four programs will be published in the KS Official Gazette tomorrow, July 28, 2022, when the official deadline for applications will begin. It is open for 30 days from the day of publication in the Official Gazette, and the text of the call with accompanying application forms is available at the link: https://mp.ks.gov.ba/aktuelno/konkursi/javni-poziv-za-subbenzioniranje-refundiranje-troskova -small-businesses-2022
Funds cannot be used as incentives in the case of production of tobacco products and alcoholic beverages, as well as in primary agricultural production, with the exception of processing. All those engaged in production activities, especially export-oriented companies, have priority when choosing users.