SME Development
SMEs, particularly those in economically-marginalised areas of the Western Balkans, often lack the necessary skills to develop the business plans required to secure access to capital investment. Accordingly, TransConflict intends to launch a series of Business Plan Competitions (BPC), primarily in areas of multi-ethnic diversity, that aim to identify, promote and reward innovative business initiatives developed by SMEs and aspiring entrepreneurs.
By providing a platform for showcasing and nurturing business talent, BPCs will assist SMEs and aspiring entrepreneurs in the process of creating, evaluating and pursuing new business ventures; thereby helping to stimulate entrepreneurship and investment, whilst providing the necessary knowledge and skills to help build competitive and sustainable SMEs. All interested participants will receive business plan guides and templates, plus the opportunity to attend seminars on business plan development. The received business plans will be reviewed by a panel of experts from the local business and academic community, who will evaluate the applications according to a criteria that emphasises both the innovation and viability of the proposal, the quality of the market analysis undertaken and the likelihood of the proposal being successfully pursued and the overall impact of the business initiative.
Those successful applicants will receive intensive business development assistance and seed financing in order to help them either start or expand their existing activities, whilst other selected applicants will have access to micro-credit on favourable terms and will also receive business development assistance. Aside from the chance to be rewarded for innovative proposals, all participants will receive invaluable feedback on their business plans, thereby strengthening their capacity to develop and pursue business ventures in the future. The BPC will also provide networking opportunities that allow SMEs and entrepreneurs to present their ideas to other interested parties, particularly potential investors and business partners from throughout the region. Furthermore, by promoting the values and virtues of entrepreneurship, the BPC is an ideal mechanism for promoting local economic development at local level throughout the Western Balkans.
