VOICES September 2021

Page 7

репортажа

MSMEs (Micro, Small and Medium Entreprises) account for more than 99 percent of all firms, providing 67 percent of value added and 77 percent of employment. However, according to a study led by the International Labour Organization, Macedonia cannot realize the potential of MSMEs for creating additional jobs while the EU MSME employment grows almost 50 percent faster than total employment.

The Macedonian State offer solutions for young entrepreneurs who wish to launch a new business through the governmental agency "Invest North Macedonia". This latter was founded in 2005 with several missions such as these: attracting foreign investments, promoting the export potential of local companies to foreign markets, supporting investors, and establishing and enhancing business cooperation with local entities. In other words, when a potential investor wants to explore opportunities in Macedonia, their task consists in designing a tailor-made program to show the investor what Macedonia can offer on the current business climate, in comparison to neighboring countries. This work with investors goes from the preinvestment phase through the actual investment and beyond. It encompasses an evaluation based on the potential success of the entrepreneur’s project. With their aftercare team, Invest North Macedonia provides assistance by mediating -on the supported business’s behalf- with local authorities and the Macedonian government to support the expansion of the business as well reinvestment plans. It also helps in obtaining required permits.

There are, however, some conditions for the granting of a financial aid, according to the Law on the Financial support of Investments. The financial aid can be granted for new employments, cooperation with local supplies, research and development centers and activities, investment projects of enormous economic interest, capital investments, support for acquisition of companies that are facing difficulties or the growth of the competitiveness of companies. Yvan Barbeau Sources : PwC: Guide to Doing Business and Investing in Macedonia Invest North Macedonia: About us Invest North Macedonia: Business Operations Invest North Macedonia: Financial Aid Entrepreneurship Ecosystem in North Macedonia Market Assessment (Makedonka Dimitrova)

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