The Sarajevo Canton Session: Incentives for the Start Up Companies as a Chance for Young Entrepreneurs


At its session yesterday, the Sarajevo Canton Government adopted the Annual Plan for the Implementation of the Youth Employment Program in the Sarajevo Canton for 2018 on the basis of the Sarajevo Canton Development Strategy and the Small Business Development Incentive Act.
The "Job Support Project for youth - “START-UP" was implemented in the frame of this plan. It presents the development and promotion of entrepreneurial spirit and the encouragement of youth entrepreneurship as well as the improvement of efficiency and institutional support for business and development of small business subjects " Start up ".
The support program encompassed: the training implementation, the grants granting and the mentoring of future entrepreneurs. The target group and the right to participate in the implemented project had included young people who did not have a job, but have a good business idea for self-employment and self-initiated business.
The Sarajevo Canton Ministry of Economy and the Sarajevo Canton Chamber of Commerce announced a Public Call for Implementation of this Project, and 51 persons applied.
For the implementation of Phase II of the Project - Business Startup Training - more than 60 hours, prof. Almir Peštek, PhD, Senior lecturer Amila Pilav-Velić and Prof. Mugdim Pašić, PhD were trainers of applicants through six training modules.
At Chamber of Commerce, at the beginning of November, business ideas and business plans were presented to all project participants, as well as in front of Commission for Evaluation and Selection of the Beneficiary Project for Start-ups in the Sarajevo Canton for 2018. year.
All individually presented projects were evaluated based on the business plan, new employment, share of own investments, justification and sustainability of the investment in the development of the new business entity and alignment with the goals and priorities of the Sarajevo Canton Development Strategy.
Based on the established number of points, the Commission made a list of best business ideas, business plans and established proposals of the amount of incentive grant for their realization. The Commission has proposed 17 business plans for young applicants who, from the point of view of the justification and viability of the investment, meet all the conditions for getting funds for their realization.
Providing of grants in the amount of 297.313,00 KM for the selected 17 business plans - in accordance with the Sarajevo Canton Government Decision, obliges the selected applicants to provide, in addition to the allocated incentive funds, their own participation of 20 percent of the funds for the realization of the business idea and the viability of Start-up business, carry out registration of trades, and operate for at least three years.
Their obligation is to employ at least one other person besides self-employment. The Ministry of Economy and the Sarajevo Canton Chamber of Commerce are have committed themselves to provide mentoring and monitoring services over the next three years.