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European Funds Financial Management Mario Borisic

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  • 1. WELCOME EUROPEAN FUNDS FINAN CIAL MANAGEMENT Tr ainer : Mario Borišić Contact: [email_address]
  • 2. Introduction
    • Briefing
    • O n topic and its significance :
    • - Getting information on financial sources and available European Funds for entrepreneurs
    • - Introducing the European Funds budget structure and financial reporting
    • - Role and development of entrepreneurship , activities related to application submission to pre-accession European Funds
    • Working mode : theoretical base , pra ctical experience, drills, guests
    • Working rules : informa tional base and practical experiences
  • 3. Objectives
    • Train the participants to :
      • OBJECTIVE 1: Provide the participants with basic knowledge of the EU pre-accession support instruments
      • OBJECTIVE 2: Which programmes – The way the company succeeded with the EU Funds assistance
      • OBJECTIVE 3: How to apply for the programmes in future / EU Funds
      • OBJECTIVE 4: Which funds / competitions for the concerned entrepreneurs in transition
      • OBJECTIVE 5: Tr aining devoted to the future marketing company promotion ?
  • 4. Daily Topics Daily activities DA Y 1. Give brief review of the programme / EU Funds ( IPA programmes, what are they . , Capacity building , office for technical support and information exchange, twinning and partnership , community programmes CIP and etc . DA Y 2. Mi crofinancial support, pre-accession assistance services (f unds )- examples of marketing promotion of the company , catalogues , fairs DA Y 3. Preparation of documentation for the application to the call DA Y 4. Available resources of EU for S erbia in the period 2007- 2013 DA Y 5. How to apply my for EU Fund ( examples of best practice , what can I get , advices )
  • 5. Your Trainer
    • MARIO BORIŠIĆ
    • Education : Faculty of Economics , course of studies: Finances and Accountancy , graduated in the field of Financial reports revision , number of trainings in the country and abroad
    • Profes sional experience : Finan cial management and business , Bank ing , Finan cies of EU Funds , consulting
    • Current employment : Regional Agency for Economic Development of Šumadij a and Pomoravlj e Kragujevac
    • Po sition : Financial consultant
  • 6. Day 1
    • OBJECTIVES :
    • * Introduction with European Funds and the possibilities to apply for the assets
    • Support programmes EU – IPA Funds
    • Irrevocable assets
  • 7. Da y 1
    • Significance and objectives of European integrations
    • Economy system and entrepreneurship development and European Standards
    • SME sector and Development projects
  • 8. Da y 1
    • Significance and accessibility of European Funds
    • Program mes of European Funds
    • Entrepreneurship development by European Funds
  • 9. Da y 1
    • IPA F UNDS (Instrument for Pre-Accession Assistance – IPA 2007-2013)
    • IPA Funds are Development funds
    • Established by the European Commission with an aim of external support provision in the budget period 2007-2013
    • Finan cial value of the IPA Funds for the defined period is 11,468 billion €
    • Advantages of IPA Funds
    • Beneficiaries of IPA Funds
  • 10. Da y 1
    • IPA Funds components for the period 2007-2013:
    • Transition support and institution building
    • Trans border cooperation
    • Regional development
    • Human resources development
    • Rural development
  • 11. Da y 1 European Commission approved the potential candidate countries the use of the first and second IPA component in the period 2007-201 3, while the project types and activities from the components 3,4,5 are to be supported within the component 1 . S erbia uses the first two components . Purpose of the IPA Funds assets is primarily to support the reforms and development, EU standards and regulations application and further approach of Serbia to European Union .
  • 12. Da y 1 COMPONENT 1: ASSISTANCE IN TRANSITION AND INSTITUTION BUILDING IN TRANSITION encompasses 3 subcomponents : A – Politi cal requirements : stable, modern, democratic and open society based on the rule of law support B – Socio – economic requirements : support to economy and society development , employment increase , education , health system , programmes of competitiveness , small and medium enterprises, rural development C – E uropean standards : integra tion and building all socio-economic capacities aimed at further development
  • 13. Da y 1
    • COMPONENT 2: TRANSBORDER COOPERATION
    • Trans-border cooperation support to be established between Serbia and neighboring EU member countries, candidate countries and potential candidate countries.
    • Bi l lateral program mes
  • 14. Da y 1
      • CIP PROGRAM ME
      • - ENTREPRENEURSHIP AND INNOVATIVNESS PROGRAMME (EIP)
      • Access to finances and SME cooperation and information exchange
      • Entrepreneurship and innovation culture
      • Entrepreneurship reforms and new trends
      • Business making support
  • 15. Da y 1
    • TWINNING Program me : cooperation of member countries with concrete institutions of the candidate countries for the EU membership , aimed at national administration and law system support
    • CARDS Program me : Program mes of stabilization and accession of countries to EU, related to reconstruction, development and stabilization of economic reforms and social development
    • TAIEX Program me : short-term assistance to new EU member countries, candidate countries for the membership and the countries of Western Balkan
  • 16. Da y 1
    • COMPETITION FOR EUROPEAN FUNDS
    • Sources of information
    • Selection of the right call
    • General conditions for call
    • Application to call
    • Approval of the assets
    • Implementation of project activities
    • Monitoring and project activities supervision
  • 17. Da y 1
    • APPLYING FOR EUROPEAN FUNDS
    • IRREVOCABLE FINANCIAL ASSETS for SERBIAN EXPORTING ENTERPRISES – SME SE CTOR :
    • FOREIGN MARKET SURVEY
    • PARTICIPATION IN INTERNATIONAL ECONOMY FAIRS
    • D ESIGN AND NEW PACKAGES OF THE PRODUCTS
    • D ESIGN AND PROMO MATERIAL PREPARATION
    • ADVERTISING IN FOREIGN TRADE JOURNALS
    • OTHER ACTIVITIES AS IN CALL PROPOSAL
  • 18. Da y 1
    • APPLYING FOR EUROPEAN FUNDS
    • IRREVOCABLE FINANCIAL ASSETS FOR NEW INVESTMENTS IN SECTORS :
    • PRO DUCTION
    • SERVICES
    • REASEARCHING AND
    • DEVELOPMENT
    • APPROVAL OF ASSETS AND EMPLOYMENT ENHANCEMENT, PROFIT AND MARKET PARTICIPATION
  • 19. Da y 1
    • Sources of information for the European Funds Programmes :
    • Internet pre sentation :
    • seio.sr.gov.rs
    • merr.gov.rs
    • ec.europa.eu
    • ino.komora.net/eu/fondoviiprogrami
    • Technical literature, brochures, bulletins
  • 20. WELCOME FINAN CIAL MANAGEMENT OF E UROPEAN FUNDS T rainer : Mario Borišić Contact: [email_address]
  • 21. Day 2 OBJECTIVES : * E uropean funds –M icro-financial assistance, positive practice experience and Marketing promo tion of the company
  • 22. Day 2
    • E uropean funds – Mi cro-financial assistance
    • Proje cts and fields of financing
    • Significance for entrepreneurship development
    • Proje cts : SME se ctors , clusters , associations , net development , foreign market launch , te chnology transfers , services , ...
    • Who can participate :
    • Different enterprises, institutions and individuals
  • 23. Day 2
    • E uropean Funds – Mi cro-financial assistance
    • Micro-financial assistance for enterprises :
    • Pr eparation of project proposals and programmes to be financed through donations
    • Defini ning donors and sources of financing
    • Ap plying for the European Funds assets
    • Realiza tion of arrangements and project activities
    • Supervision and monitoring of project implementation
    • Operati onal -te c hni cal assistance to enterprises in activities implementation
  • 24. Day 2 E uropean Funds – Mi cro-financial assistance A ctivities of Micro-financial assistance for enterprises : 7. Project sustainability 8. Overcoming problems of project activities and business activities synergy 9. Sinhron y za tion of business, harmonization of vision, mission and objectives of business making with donors’ assets 10. Activities, clusters linking and business cooperation of project participants
  • 25. Day 2
    • How can company can become successful by deploying the European Funds assets
    • Objectives of the company business and entrepreneurs
    • Vi sion , mis sion and business strategy
    • Marketing concept
    • Finan cial support
    • Organiza tion and coordination of all company resources aimed to profit generation
  • 26. Day 2
    • Budget of the project as applied for the European Funds assets
    • Stru cture of the budget
    • European Funds assets and co-financing
    • Procedur s and methodologies of running European Funds Budgets
    • Harmonization of operative project activities implementation and financing
  • 27. Day 2
    • Sources of financing
    • Stru cture of expenditures in the Budget
    • Human resources as key element of Project activities
    • Office o perati onal costs and its supevizion
  • 28. Day 2
    • Procurement of basics – equipment , vehicle, etc .
    • Tax treatment regarding the European Funds assets use and tax, custom’s fees exemption
    • Criteria of procurement and methodology. Tenders and procurement
  • 29. Day 2
    • Finan cial reporting
    • Types of financial reports and evidence
    • Intern al and external beneficiaries of financial reports
    • Pre sentation of financial reports
  • 30. Day 2
    • DRILL :
    • SELECT ACTIVITY AND FIELD OF BUSINESS
    • INVEST MENTS AND IRREVOCABLE ASSETS
    • BUDGET PREPARATION AND BUDGET ITEMS DEFINING
    • PROJECT ACTIVITIES PLAN AND IMPLEMENTATION MONITORING
  • 31. Day 2
    • Role and function of Department of Finances and Accountancy in management European funds finances
    • Knowledge and respect of legal requirements, International accountancy standards, International Revision standards, Law on Accountancy, and other legal regulations
    • Finan cial advising and c ons u lting
    • Preparation of financial reports and Budget realization monitoring
  • 32. Day 2
    • Princip e of Sustainability of the Projects financed by European Funds
    • Project Visibility – procedure s and examples from the practice of donors in European Funds projects
  • 33. Day 2
    • Consultants role in the project
    • Experts engagement from the fields of specific company’s business
    • Types of consulting services
    • Best practice and experience exchange , benchmarking
    • Meetings of experts
    • Work teams and work groups
  • 34. Day 2
    • European Funds Donors business assistance :
    • Services of informing on EU legal system and politics
    • Informi ng on financing and investments possibilities
    • Partner search for business-technical cooperation or technology transfer assistance
    • Business Interna tionalization
    • Innovativeness and competitiveness enhancement
    • Business problem solving assistance, cause analysis and defining the guideline for problems overcoming
  • 35. Day 2
    • KEY FACTORS OF THE COMPANY FOR PROJECT IMPLEMENTATION :
    • Plan ning , organiz ing , and project activities leading and implementation
    • Coordination and interaction of employees and company sectors
    • Corporative organizational culture and climate
    • Consideration of all possibilities . Weaknesses, advantages, opportunities
    • Objectives, vision, mission, company strategy, orientation
    • Monitoring of significant business indicators : Income increase , Increase of employment , Profit increase , Development of product, services and their market launch, Investments and ventures
  • 36. WELCOME EUROPEAN FUNDS FINAN CIAL MANAGEMENT Tr ainer : Mario Borišić Contact: [email_address]
  • 37. Day 3 OBJECTIVES : * Selection of most relevant programme and Application documentation preparation
  • 38. Day 3
    • Identifi cation of needs for some of the European Funds Programmes
    • Informi ng on donors’ proposals and funds availability, analysis of available potentials for participation in the call
    • Informi ng on applying conditions e
    • Selection of fund
    • Pr eparation of documentation for the Call
    • Participation in the call
  • 39. Day 3
    • E uropean Funds – How to participate in the Call :
    • Grant s for projects – public calls
    • Memorandums of Understanding for studies preparation and other services – call for proposal
    • Finan cial instruments – through financial banks intermediary or specialized funds
  • 40. Day 3
    • General documentation for participation :
    • Application format
    • Project description, the assistance is required for
    • Project proposal entity data
    • Project participants data
    • Cooperation agreement on project activities
    • Project Budget
    • Project co-financing
    • O ther documentation as required by the Call propositions
  • 41. Day 3
    • Use of the Funds assets
    • Project activities realization
    • Project Budget and finances
    • Reporting and monitoring project implementation
    • Problem s in project activities implementation
    • Monitoring and Project control
  • 42. Day 3
    • AP PLICATION FOR IRREVOCABLE ASSETS : GENERAL CONDITIONS OF THE CALL AND CRITERIA
    • BASIC INFORMATION ON LEGAL ENTITY, BENEFICIRY OF THE ASSETS
    • VI SION , STRATE GIC ORI ENTATION AND OBJECTIVES
    • MOST IMPORTANT PRODUCTS AND SERVICES AND MARKET
    • COMMERCIAL PART OF THE PROJECT : product development strategy, planned market share, distribution, etc .
    • ASSESSMENT OF THE COMPETITION : dom estic and foreign market , SWOT anal ysis of products / services , assessment of purchasing power and providers’ capacities
  • 43. Day 3
    • AP PLICATION FOR IRREVOCABLE ASSETS : GENERAL CONDITIONS OF THE CALL AND CRITERIA
    • MARKET ANALYSIS : market growth , demand and offer , profit
    • FINAN CIAL PLAN AND BENEFICIARY PLAN
    • PROJECT ACTIVITIES EXPENDITURES
    • SOURCES OF FINANCING-ACTIVITIES :
    • Capital : dom estic and foreign
    • Bank ’s credits
    • Securities
    • Other sources of financing
  • 44. Day 3
    • AP PLICATION FOR IRREVOCABLE ASSETS : GENERAL CONDITIONS OF THE CALL AND CRITERIA
    • O PPENING NEW JOB POSITIONS AND EMPLOYMENT
    • INVESTMENTS INTO EDUCATION AND TRAINING
    • INVEST MENTS INTO NEW TECHNOLOGIES AND DEVELOPMENT : research and development activity plan, scope and time frame of investments into research and development equipment
    • ENVIRONMENT IMPACT ASSESSMENT OF PROJECT ACTIVITIES AND PROJECT IMPLEMENTATION
    • DESCRIPTION OF PLANNED ACTIVITIES
    • TIME FRAME FOR ACTIVITIES IMPLEMENTATION
  • 45. Day 3
    • AP PLICATION FOR IRREVOCABLE ASSETS : GENERAL CONDITIONS OF THE CALL AND CRITERIA
    • HUMAN RES OURCES
    • PROJECT TEAM MANAGER
    • PROJECT TEAM MEMBERS AND ORGANISATION
    • PROJECT TEAM MEMBERS REFERENCIES
    • IMPACT ON MUNICIPALITY AND LOCAL SELF-GOVERNMENTS DEVELOPMENT
    • SUPPORT OF OTHER SUBJECTS IN PROJECT ACTIVITIES REALISATION
    • INVESTMENTS SUSTAINABILITY AND INVESTMENTS IN BUSINESS CONTINUATION
  • 46. Day 3
    • RS Development Fund
    • Credit types
    • Start-up credits
    • Innovation development credits
    • Short-term and long-term credits
    • Submission of application for credit approval
    • Documentation needed
  • 47. Day 3
    • B usiness plan and its role in applying for the European and domestic funds’ assets and credits
    • Business Plan Structure
    • Finan cial elements of the business plan, state and predictions of future business parameters, incomes and expenditures of entrepreneurial company
    • Financial planning role
  • 48. Day 3
    • Budget preparation
    • Starting points
    • Stru cture and projection of budget positions
    • Sources of Financement – Project value i sufinansiranje
    • Paramet ers of budget preparation – time frame of project duration , project value , limited assets , a ctions and project activities , gross amounts of expenditures
    • Redistribution of assets – budget modification
    • Budget adoption, proposals and suggestions
  • 49. Day 3
    • Program mes and funds
    • Pre -accession funds
    • Stru ctural funds
    • O ther external aid
    • Finan cial institutions and banks
    • Program mes of natural resources preservation and protection
    • Competitiveness, growth and employment programmes
    • Citizens freedoms, safety and justice programmes
    • Education and culture development programmes
    • Trans-border cooperation programmes
  • 50. Day 3 10. Competitiveness and innovation programmes 11. Informatics society related programmes 12. Specific economy branch related programmes 13. Reforms and concrete institutions enhancement related programmes * See Review of budget funds /program mes of European Commission a vailable for the period 2007-2013, Enclosure
  • 51. WELCOME FINAN CIAL MANAGEMENT OF E UROPEAN FUNDS T rainer : Mario Borišić Contact: [email_address]
  • 52. Da y 4 Objective : Introduction with CIP- program me for entrepreneurship and innovations , Program me of support to Information and Communication Technologies and Program me of Europe Inteligent energ y
  • 53. Da y 4
    • CIP STRUCTURE – PROGRAMMES AND POLICIES:
    • ENTREPRENEURSHIP AND INNOVATIVENSS PROGRAMME
    • INTELIGENT ENERGY OF EUROPE
    • POLYTICS OF INFORMATION-COMMUNICATION TECHNOLOGIES
  • 54. Da y 4
    • CIP PROGRAMME FOR ENTREPRENEURSHIP AND INNOVATIVENESS
    • Objectives :
    • Access to finances
    • SME cooperation and information exchange
    • In novations and eko-in novations
    • Entrepreneurship i in novation culture
    • Reform s related to entrepreneurship and innovativeness
  • 55. Dan 4.
    • CIP PROGRAMME FOR ENTREPRENEURSHIP AND INNOVATIVENESS
    • Instrument s :
    • Finan cial instruments
    • Business support services
    • In novative projects : se ctors , clusters , nets , te chnology transfer , services ...
    • Anal isis , development and coordination politic
  • 56. Da y 4
    • CIP PROGRAMME FOR ENTREPRENEURSHIP AND INNOVATIVENESS
    • Objective is to facilitate competitiveness of European enterprises, SME sector primarily , as well as, support to innovations, better access to capital and services for business support , wide use of Information-Communication Technologies and Informatics society development assistance
    • Programme participants can be legal entities from public and private sector but not physical entities
    • Grant s are given for co-financing of approved project activities, not for profit generation
  • 57. Da y 4
    • CIP PROGRAMME FOR ENTREPRENEURSHIP AND INNOVATIVENESS
    • Access to finances
    • Target group – small enterprises
    • Access to finances through provision risk capital and guarantee capital for SME enterprises in the kick-off and expansion phase
    • Possibility of guarantees , debt guarantee to encourage banks to give the loan to SMEs, decreasing the bank risk
    • Assistance for capacity development of financial mediatory to invest and give loans to SME
  • 58. Da y 4
    • CIP PROGRAMME FOR ENTREPRENEURSHIP AND INNOVATIVENESS
    • 2. Services for SME business support
    • Information , advices , business cooperation , business internationalization services
    • Services related to innovations , technology and knowledge tansfer
    • Common research projects and technology initiatives
  • 59. Da y 4
    • CIP PROGRAMME FOR ENTREPRENEURSHIP AND INNOVATIVENESS
    • 3. In novation projects
    • Support to development transnational nets of innovative companies and other actors in innovation process, including benchmarking and best practice exchange
    • Ec o-in novations , pollution decrease and optimiza tion of resources use by introduction of new production processes and services or business methods that decrease expenditures and bring to positive management of polluted areas – e c olo gy clusters , pilot-proje cts , e c o-d esign of packages and etc .
  • 60. Da y 4
    • CIP PROGRAMME FOR ENTREPRENEURSHIP AND INNOVATIVENESS
    • 4. In nitiatives , development , coordination and policy improvement :
    • Participation of experts in the meetings , experience exchange, making conclusions , recommendations , knowledge transfer, anal isis of results .
    • Examples : education for entrepreneurship , women entrepreneurship , p rojects kick-off , start-up p rocedure s , internacionaliza tion and etc .
  • 61. Da y 4
    • CIP PROGRAM ME – EUROPE INTEL LIGENT ENERGY
    • Objectives :
    • Promo ting energy efficiency and rational use of resources ( e.g. Industr y , constructing )
    • Introduction with new and renewable energy sources
    • Energij y in transport
  • 62. Da y 4
    • CIP PROGRAM ME – EUROPE INTEL LIGENT ENERGY
    • Instrument s of support : pilot proje cts , projects transfer , promo tion and dissemination of projects information , repeating successful projects .
    • Executive Agenc y prepares public calls , carry out the procedure of selection , monitors implementation of approved programmes and sends feedback information to relevant EU bodies .
  • 63. Da y 4
    • CIP PROGRAM ME – COMMUNICTION-INFORMATION TECHNOLOGY POLITICS
    • Objectives :
    • Unique informative space ( wireless access , infrastru cture of large capacities , wide accessions of content and services )
    • Wide acceptance and better ICT use, especially SME sector related
    • Benefits of Information Societies of all citizens and public interest services
  • 64. Da y 4
    • CIP PROGRAM ME – COMMUNICTION-INFORMATION TECHNOLOGY POLITICS
    • Instrument s of support : pilot proje cts , best practice exchange , t hematic net ( common travel map , ICT health service , soci al integration ), anal isis of the policy and promotion activities
    • Compulsory participation of 3,4 or 6 countries in this programmes .
  • 65. Da y 4
    • PRE CONDITIONS OF EU FRAME PROGRAMME FOR
    • COMPTETIVENESS AND INNOVATIVENES – CIP ARE :
    • Participation of number of countries
    • Identification of adequate partner for project activities
    • Exchange of experience
    • Joining nets regarding project ideas
    • Selection of grant s based on best criteria : complete application , impact , significance of project , capacity of application and budget .
  • 66. WELCOME FINAN CIAL MANAGEMENT OF E UROPEAN FUNDS T rainer : Mario Borišić Contact: [email_address]
  • 67. Da y 5 Objective : Introduction with sources of information, presentations and possibilities of call participation for European Funds Pre sentation of new forms of joint ventures with European Funds’ assets use
  • 68. Da y 5
    • MANAGEMENT OF EUROPEAN UNION FUNDS IN SERBIA
    • MINIST RY OF FINANCES –
    • AND SE C TOR FOR EUROPEAN UNION FUNDS PROGRAMMING AND MANAGEMENT :
    • SPHERE OF ACTIONS
    • SECTOR ORGANISATION
    • DEPARTMENT FOR PROGRAMMING AND COORDINATION OF THE EU FUNDS AND DEVELOPMENT ASSITANCE :
    • G roup for coordination and EU Funds programming
    • Gr oup for strategic planning, monitoring and reporting
  • 69. Da y 5
    • MANAGEMENT OF EUROPEAN UNION FUNDS IN SERBIA
    • DEPARTMENT FOR MANAGEMENT OF TRANSBORDER, TRANSNATIONAL AND REGIONAL COOPERATION PROGRAM MES
    • Gr oup for the programmes of trans-border cooperation with EU member countries
    • Gr oup for the programmes of trans-border cooperation with EU candidate countries and potential candidates
    • Gr oup for maintenance and development information systems related to monitoring EU Funds donations and development assistance
  • 70. Da y 5
    • MANAGEMENT OF EUROPEAN UNION FUNDS IN SERBIA
    • MINIST RY OF FINANCES –
    • II SE C TOR FOR NATIONAL FUND FOR EU ASSETS MANAGEMENT
    • GR OUP FOR FINAN CIAL MANAGEMENT
    • GR OUP FOR FINANCIAL CONTROL
    • GR OUP FOR DECENTRALIZED MANAGEMENT OF EUROPEAN UNION FUNDS
  • 71. Da y 5
    • MANAGEMENT OF EUROPEAN UNION FUNDS IN SERBIA
    • MINISTR Y OF FINANCES –
    • III SE CTOR FOR CONTRACTING AND FINANCING PROGRAMMES WITH EUROPEAN UNION ASSETS
    • Gr oup for project management , financial management , control and reporting
    • Gr oup for carrying out public procurement procedures
    • Gr oup for quality control
  • 72. Da y 5
    • EUROPEAN FUNDS AND ENTREPRENEURSHIP DEVELOPMENT
    • DEVELOPMENT OF SME SECTOR OUT OF EUROPEAN FUNDS
    • SOURCES OF INFORMATION RELEVANT FOR SMEs IN SERBIA
    • INTERNATIONAL STANDARDS OF PRODUCTION AND SERVICES INTRODUCTION
    • INCREASE THE QUALITY OF BRAND NAME AND MARKET SALE STABILITY
    • RECOGNIZABILITY IN RELEVANT ECONOMY SECTOR AND “ PATTERN ” FOR OTHER COMPANIES
  • 73. Da y 5
    • EUROPEAN FUNDS AND ENTREPRENEURSHIP DEVELOPMENT
    • FINAN CIAL EFFECTS OF ENTERPRISES AND SME SECTOR PARTICIPATION IN EUROPEAN FUNDS PROGRAMMES
    • SME BUSINESS DEVELOPMENT AND KEY ECONOMIC INDICATORS
    • INVEST MENT POLICY
    • INTERNATIONAL COOPERATION
    • FORM ATION OF BRANCH ASSOCIATIONS AND CLUSTERS OF ACTIVITIES
  • 74. Da y 5
    • Introduction with Clusters
    • Clusters are groups of industry or companies mutually connected regarding the buy and sale, sharing the same client base, infrastructure, skills and whose connections enhance the competitiveness of participants .
    • Based on system connections
    • Geogra phically limited
    • Defined by economic, demographic, cultural and other regional characteristics .
  • 75. Da y 5
    • ADVANTAGES OF CLUSTER’S MEMBERSHIP :
    • Lower business costs : e.g. Procurement is made at cluster’s level that decrease the expenses , lower price and cheaper transport, as well as, decrease of the material stock due to establishment optimal stock system at the level of the group of companies .
    • Lower new product and services development expenses
    • Technical –technological knowledge and information exchange
    • Presence on foreign - markets
    • Prospects of larger investing and investments
    • B etter funds’ access, favorable credits and sources of financing
  • 76. Da y 5
    • MODEL OF CLUSTER ESTABLISHMENT
    • Establishment of infrastructural support for clusters development
    • Identifi cation of possibilities for cluster establishment within the territory
    • A ctivities of cluster establishment and labour force training Development and application of modern technologies and entrepreneurial ideas support
    • Establishment of organizational and managerial structure
    • Marketing enhancement
    • Investment in clusters development
  • 77. Da y 5
    • G UEST
    • T OPIC : CLUSTERS AND SME SECTOR DEVELOPMENT WITH IRREVOCABLE ASSETS; RESULTS OF FINANCING
    • PO SITIVE AND NEGATIVE EFFECTS OF FINANCING
    • INTERNATIONAL COOPERATION OF DOMESTIC ENTERPRISES WITH FOREIGN ENTERPRISES AND SME SECTOR
  • 78. Da y 5
    • USE OF EUROPEAN FUNDS ASSETS
    • FINANCIAL MANAGEMENT STRATEGY
    • FINAN CIAL POLICY
    • FINAN CIAL REPORTING
    • KNOWLEDGE OF INTERNATIONAL STANDARDS FROM THE DOMAIN OF ACCOUNTANCY, FINANCIAL OPERATIONS AND HARMONIZATION WITH LEGAL SYSTEM HERE
  • 79. Da y 5
    • INTERNATIONAL COOPEARTION OF DOMESTC ENTERPRISES AND EUROPEAN IN SME SECTOR
    • FIELDS OF COOPERATION IN SME SECTOR
    • WAYS OF COOPEARTION
    • RAISING THE LEVEL OF COMPETITIVENESS AND BUSINESS EFFICIENCY
    • JOINT VENTURES AND INVESTMENTS
  • 80. Da y 5
    • INTERNATIONAL COOPEARTION OF DOMESTIC AND EUROPEAN ENTERPRISES IN SME SECTOR
    • PR EPARATION OF ENTERPRISES FOR FOREIGN MARKET LAUNCH
    • UNDERSTANDING LEGAL, TAX AND CUSTOM REGULATIONS OF THE FOREIGN MARKET TO BE ACCESSED
    • COMMUNICATION WAYS AND BUSINESS SPECIFICITY OF RELEVANT FOREIGN MARKET
    • SME SUPPORT PROGRAMMES
    • ROLE OF CHAMBER OF ECONOMY
  • 81. Da y 5
    • CAPACITIES AND POSSIBILITIES OF THE COMPANY TO MANAGE PROJECT ACTIVITIES FINANCES
    • LIMITATIONS AND BARRIERS
    • CONSULTING AND FOLLOWING SERBIAN AND EUROPEAN REGULATIONS
    • BUSINESS ADVISING AND PROJECT ACTIVITIES IMPLEMENTATION
    • FINAN CIAL REPORTS AND MONITORING OF FINANCES EXPENDITURES APPROVED FOR CONCRETE PROJECT
  • 82. Da y 5
    • Drill :
    • Linkage of business activity and European Fund, for example: which cluster would you establish and how would you apply for the European Fund assets
    • Pr oposal of project activities, with special stress on project budget
    • Poten tial results of project activities and strategy of sustainability
    • Disbursement of assets

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