SME Hub marks one year of successful implementation

Local news, 10.10.2024

During the first year, over 60 domestic small and medium enterprises (SMEs) expressed an interest in SME HUB and nine businesses have already gone through the transformation process, with a total value exceeding 550,000 Swiss francs. 

SME Hub Gala dinner to mark one year of successful implementation
SME Hub Gala dinner to mark one year of successful implementation ©SME Hub

The Swiss Ambassador Anne Lugon-Moulin reflected on the importance of the project for the bilateral relations between Serbia and Switzerland, highlighting that SME HUB was designed to support SMEs in accessing financing and aligning with global standards. “Our mission is to help Serbian companies connect with global markets and seize the opportunities provided by projects like this,” said the Swiss Ambassador.

The Minister of Internal and External Trade, Tomislav Momirović, emphasized that SMEs are the backbone of the Serbian economy. “These businesses employ 64% of the population and generate 66% of total revenue, thus contributing 59% of the GDP. Our goal is to help them, through projects like SME HUB, to improve their technological capacities and more easily integrate into global supply chains,” said Momirović.

One successful example of collaboration is the connection between the Swiss company Sika and the company Marking from Užice, where this local company will begin producing an entirely new product. Additionally, MPK Trade from Valjevo continues to expand its cooperation with Zumtobel, an Austrian multinational company operating in Serbia. This type of collaboration offers Serbian SMEs the opportunity to improve their business capacities and integrate into global supply chains.

Aleksandar Goračinov, director of SME HUB, expressed satisfaction with the achievements of the first year. “The project has successfully established cooperation with more than 12 large domestic and multinational companies, including two of the five largest exporters in Serbia,” Goračinov emphasized.

In the next project year, SME HUB aims to help 15 small domestic companies go through business transformation, and in addition to financial support, it will also provide them with access to specific knowledge and modern methods that are crucial for success in the global market.

The SME HUB project, worth over CHF 7 million, is a result of a public-private partnership between the Serbian company ICT Hub and the Swiss Government, represented by the Swiss Agency for Development and Cooperation (SDC). The Swiss Government is contributing CHF 6.2 million to this intervention that will be implemented for the next five years by the ICT Hub.