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Womens Entrepreneurship. About us. Vojvodina province in the Republic of Serbia located in the northern part of the Republic mostly agricultural region.

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Presentation on theme: "Womens Entrepreneurship. About us. Vojvodina province in the Republic of Serbia located in the northern part of the Republic mostly agricultural region."— Presentation transcript:

1 Womens Entrepreneurship

2 About us. Vojvodina province in the Republic of Serbia located in the northern part of the Republic mostly agricultural region 2 million citizens agricultural soil makes up 84% of whole territory surface area of 215.000 km2

3 About us Foundation: Decision of the Assembly of the Autonomous Province of Vojvodina of 18 December 2003.

4 Our Mission Aim: Guarantee Fund of the Autonomous Province of Vojvodine supports loans under favourable conditions to entrepreneurs, SMEs and farmers by providing guarantees for regular loan repayment to commercial banks.

5 Procedures of Issuing Guarantees INVITATION FOR APPLICATIONS APPLICANTS REQUEST SUBMISSION OF APPLICATION DOCUMENTATION GUARANTEE APPROVAL COMMISSION GUARANTEE FUND MANAGING BOARD GUARANTEE ISSUANCE CONTRACT GUARANTEE CONTRACT-AGREEMENT WITH COMMERCIAL BANKS LOAN

6 Application Activities until July 2010. ActionEffects Engaged guarantee potential (Euro) Number of guarantees Purchase of mineral fertilizers 20.148 tons 3.340.53542 Purchase of agricultural machinery - tractors 805 units 22.504.820712 Purchase of farming land 307 acres 441.52970 Support to womens entrepreneurship 608 new jobs 1.857.024148 Export encouragement781.000 EUR625.00012 28.768.907984

7 1. Invitation for applications for approving guarantees for loans aimed at financing START UP programmes for unemployed women in Vojvodina 2. Invitation for applications for approving guarantees for loans aimed at financing the purchase of equipment by women entrepreneurs and women founders of small enterprises in Vojvodina who have performed their activity for less than three years Supporting Womens Entrepreneurship Guarantee potential for both of the Invitations for applications is about 2 million Euro

8 INVITATION FOR APPLICATIONS START-UP for unemployed women Women entrepreneurs and women founders of small enterprises – up to 3 years Project development started at the beginning of 2006 Invitations for applications in Banat region were launched at the end of 2006 First gurantee was issued in April 2007 Invitations for applications in the whole of Vojvodina were expended in the middle of 2007 dProject development

9 General reasons At the end of May 2007, 52,08% of all unemployed people were women According to the labour force questionnaire conducted by the Republic Bureau of Statistics, there were 22,7 % of self- employed women in Vojvodina Women made up only 15% of property owners in Vojvodina - Due to the collateral lack, women have additional difficulties to start and develop their own business Reasons for Starting the Project

10 Specific reason Programme for Banat financed by the European Agency for Reconstruction Purpose of the programme was womens education and training for entrepreneurship

11 Project Partners Banca Intesa Secretariat of Labour, Employment and Gender Equality Regional Agency for SME Development- MSP ALMA MONS Novi Sad Regional Center for Socio-economic Development - Banat Women's Entrepreneurship Academy Kikinda Educational Centar Zrenjanin Chamber of Commerce of Vojvodina (Committee for Womens Entrepreneurship) Regional Chamber of Commerce Novi Sad

12 Financing of START-UP programmes Invitations for applications for approving loan guarantees aimed at financing START-UP programmes in Vojvodina – Guarantee potential - 120.000.000,00 RSD (1.500.000 Euro) Loans for unemployed women for the purchase of equipment 70 percent for working capital 30 percent

13 Financing of Development Programmes Invitation for applications for approving guarantees for loans aimed at financing women entrepreneurs and women founders of small enterprises in Vojvodina who have performed their activity for less than three years - Guarantee potential - 80.000.000,00 RSD (1.000.000 Euro) women entrepreneurs women founders of small enterprises Owners – co-owners with minimum 50% ownership share who are employed in the company Who have performed their activities for less than three years Total amount to be used for purchase of equipment

14 Credit Conditions Economic activities: Manufacture and processing Tourism Handicrafts – old crafts Production services

15 Credit Conditions Maximum loans for start-ups in the amount of up to 10.000 Euro. The loans are mostly intended for financing the purchase of equipment but 30 % of the loan can be used for working capital Maximum loans for women entrepreneurs who have performed their activities for up to three years in the amount of up to 20.000 Euro.Total amount of the loan can be used for the purchase of equipment Fixed nominal rate 6,95 % Loan repayment period up to 6 years with grace period of 1 year Monthly annuities General Credit Conditions

16 Credit Conditions Bonds, Creditworthy co-signer, legal entity or Real estate in favour of the Fund or Agricultural land in favour of the Fund Collateral securities

17 Project Effects 150 women's projects supported Engaged guarantee potential is 1.9 million Euro 618 jobs created

18 Monitoring – visiting applicants at the spot, familiarizing with the project, assisting applicants in completing the application Following the project within the period of six years - assistance provided Family business support Invitations for applications have been continuously open since 2006 and will be open until the guarantee potential has been fully exhausted Participation of Women`s Entrepreneurs in the Investment Value is not necessary Project Characteristics

19 Manufacture of pastry goods, Manufacture of cakes, Organisation of events, Manufacture of wooden souvenirs, Manufacture of EU palettes, Photocopying services, Manufacture of furniture, Accommodation in private houses Different projects Manufacture of textile, Accommodation services, Childrens club, Manufacture of dietetic products, herbal and honey based products Fast food, Processing of meat Weaving, Manufacture of cash register rolls, Hairdressers and other beauty treatments We have supported different projects

20 Approved projects

21 Prize of the Regions The Autonomous Province of Vojvodina was awarded 2008 Prize of the Regions of the Council of Europe Congress for the project Supporting Womens Entrepreneurship by Guarantee Fund of AP Vojvodine

22 2008 Prize of the Regions Laureate.

23 Womens Entrepreneurship Upon the initiative of the Guarnatee fund of the AP Vojvodina, Business Women Association awarded a woman entrepreneur as The best model of employing women– self- employment for the project supported by Guarantee Fund of the Autonomous Province of Vojvodina

24 Our Applicants in the Future

25 Serbia, 21000 Novi Sad, Hajduk Veljkova 11 Phone: (021) 489-3700 Fax: (021) 489-3700 e-mail: garfondapv@neobee.net www.garfondapv.org.rs ALL RIGHTS RESERVED Any part of this presentation may not be reproduced or transmitted in any form without the prior written permission of the copyright owner. Photo: © 2006. JupiterImages Corp.


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