The Entrepreneurial Fund for Youth awarded funds for launching businesses owned by four young people in the Municipality Centar Sarajevo. Grant agreements were signed, amounting to a total of 48,500 BAM and this type of support is expected to contribute to developing sustainable businesses and creating jobs for youth. The contracts were signed by the Mayor Nedžad Ajnadžić, on behalf of the Municipality, and Director of the Institute for Youth Development KULT, Jasmin Bešić, on behalf of the Institute.
The Director of the Institute pointed out that the Centar Municipality is one of eight local self-government units included in this initiative, and that the Institute has a special methodology for cooperating with youth who are awarded funds for launching their businesses – so signing contracts is only the beginning, and financial support isn’t the only thing they’re getting. This initiative provides young entrepreneurs with access to practical advice, support and help with promoting their business. The process of justifying funds will teach them a lot about preparing reports and justifying expenditures. The Institute and the relevant municipal services are available to answer any questions the young entrepreneurs may have.
“We’re glad to see young people applying with old crafts, and providing a modern version of their parent’s businesses, by staying in step with world trends, showing that our country isn’t lagging behind others when it comes to design, event management and 3D printing. We believe that we will have more good projects with the Municipality in the future”, said Bešić.
The Mayor of Centar Municipality wished the participants a lot of luck in launching their businesses and making their dreams come true. He noted that the Centar Municipality as a local community is not competent for employment issues, but is looking for partners in coming up with a model to help youth find jobs.
“Thanks to the budget of Centar Municipality, we are able to allocate some funds for this purpose, and we have thus far invested a substantial amount in young people’s start-ups”, said Ajnadžić.
Contracts were signed by Nihad Čaušević, who has an MA in product design, for a furniture designing project, focused on designing and creating prototypes of furniture; Adi Hadžić, who will open a pastry shop and continue his family tradition; Elma Imamović, who will open a promotional marketing agency, and Alen Komarica, who will start a business focused on architecture, 3D printing and virtual reality.
The Entrepreneurial Fund for Youth uses joint funds of the local self-government units and the Institute for Youth Development KULT, with the support of the Kingdom of Sweden, to support the development of entrepreneurship and employment of young people from 8 municipalities and cities. The total amount of funds in the Entrepreneurial Fund for Youth is 400,000 BAM, which will be used to support 50-100 youth-owned businesses. So far, the Fund has supported businesses in the Municipality Stari Grad Sarajevo, Municipality Jajce, Municipality Novi Travnik, Municipality Centar Sarajevo, Municipality Modriča, City of Cazin and City of Trebinje.