The development of small and medium-sized enterprises (SMEs) in Serbia is being significantly supported by the SME HUB, a Swiss-Serbian public-private partnership launched in 2023. According to the Republic Institute of Statistics, Serbia is home to about 16,000 SMEs, and many face challenges in areas such as management professionalization, financial management, digitization, and human capital management.
The SME HUB, a five-year initiative backed by the Swiss Agency for Development and Cooperation (SDC) and the domestic ICT HUB, aims to provide tailored expertise to these enterprises to enhance their competitiveness on the global stage. In its first year, internal analysis revealed that the most common requests for assistance came from SMEs seeking guidance on management professionalization (31%), followed by financial management (22%), digitization (18%), and human capital management (17%). The least requested expertise, at 12%, was related to certification and standardization.
The initiative’s goal is to strengthen local SMEs and transform them into competitive global suppliers. With a budget of 7 million Swiss francs, the project is focused on organizational transformation, helping SMEs become better positioned for growth and international competition.
By the end of its first year, the SME HUB attracted interest from 60 domestic companies, with nine of them entering the transformation process. These companies represent a variety of sectors, including chemicals, electronics, tire manufacturing, plastics, metalworking, woodworking, and food production. Collectively, these nine SMEs employ 654 workers and generate an annual income of 60 million euros, contributing over 5.5 million euros to the Serbian national budget.
In its second year, the SME HUB aims to support 15 SMEs, marking a 66% increase in the number of companies undergoing business transformation. By the end of the initiative in 2027, the target is for 80 SMEs to complete the transformation process.
As part of the initiative, five cycles of grants have been announced, offering up to 100,000 euros per company to improve performance and meet international standards required by large domestic or multinational corporations. Additionally, SMEs involved in the transformation process can apply for favorable loans through an exclusive credit-guarantee scheme launched by the Swiss Agency for Development and Cooperation and the Serbian Foundation for Entrepreneurship. The scheme, worth 4 million euros, offers liquidity and investment loans of up to 250,000 euros on flexible terms.
The next cycle of non-reimbursable financial support for SMEs in Serbia is set to open in February, with interested companies invited to apply through the SME HUB website’s “Become a Supplier” section.
Through the SME HUB initiative, Serbian small and medium-sized enterprises are being equipped with the knowledge, resources, and financial support necessary for sustainable growth, ultimately strengthening their position in the global market.
