Within the project “Establishment of the Regional Entrepreneurship Centre in Herzegovina” which was financed by the EU, a new facility has been established in Trebinje as a part of the Business Incubators in BiH program. The project value is  €337,120 out of which EU provided 88%of the total amount. The project was implemented by the Mostar Business Association LiNK  in cooperation with the partner and co-financers,  municipalities Trebinje and Jablanica.

The Business Incubator will be used by recently registered companies or by people who intend to  start a private business.  In the context of the current financial crisis and in time when it is hard to get a loan, the key goal of this incubator is to support small and medium enterprises, especially start-up companies by reducing initial costs of setting up a business.

The Head of Operations in the Delegation of the European Commission to BiH, Boris Iarochevitch, speaking at the opening Ceremony, noted that the EU fund for regional economic growth, which is financed this project, was founded in 2003 with the aim to finance projects that promote economic growth across BiH. The total amount of financed projects so far is 60, ranging in value from €25.000 to €300.000, which comes to a total of more than €10 million.

Small and medium enterprises are the main generators of business in BiH and it is necessary to take all possible measures to support existing companies and encourage establishment of new ones. Further support by the government is also necessary on all levels to loosen administrative obligations for companies and reduce the restrictions that make establishment of businesses more difficult, Iarochevitch said. He added that the second important achievement of this project is fostering a network of incubators in Herzegovina and working together on, what should ideally be recognised as a single economic space. This is necessary to reduce the costs and time required to set up a company and start doing business.

Boris Iarochevitch concluded his speech with the promise that the EU will continue to support small and medium enterprises in BiH with a range of ways. There are many available EU funds and programs for BiH, which can be activated if certain steps are taken. He emphasised that there are issues of importance that need to be resolved at the state, entity and municipality level in order to increase partnership among private companies and improve competitiveness in BiH.

The Mayor of Trebinje Municipality, Dr. Dobroslav Cuk, listed the main technical data of this project in the municipality, emphasising that for the needs of this project, a facility with 15 business areas had been reconstructed and adapted. The facility takes up 570 square meters and is equipped with all necessary infrastructure.   Activities on implementation  of the project began in October 2007. The value of construction works on  adaptation of the Business Incubator in Trebinje is BAM 222,990.53, and Trebinje Municipality contributed BAM 29,337.45.

Dr. Cuk said the services that the business incubator will provide will be diverse and available under very good conditions:  in obtaining business premises  under best possible conditions, in providing assistance in selection and analysis of business ideas, registration and partnerships, in linking potential business partners and in facilitating business initiatives. The business incubator will offer possibilities for development of new businesses and application of modern technology as well as new business, technical, organisational and marketing structures and methods.

The President of the Association LiNK Mostar, Tomislav Majic said they managed to fulfill three of four goals in the implementation of this project. All infrastructural preparations have been made, for the accomplishment of the fourth goal of the project, which is the opening of the regional entrepreneurship centre in Mostar but in agreement with EC the centre will not be opened until September this year. He added that this project in Jablanica and Trebinje has served as an example because the municipalities of Stolac, Capljina, Prozor-Rama and Posusje have already expressed interest for assistance in development of their local instruments for support to entrepreneurship.

It is also important to note that public announcement for allocation of the business incubator was published on 12.5.2009 and will remain open until all premises are taken.