The Delegation of the European Union to Bosnia and Herzegovina and the European Bank for Reconstruction and Development (EBRD) presented this Thursday a programmes funded by the EU “Support to the small and medium sized enterprises sectors in Bosnia and Herzegovina” TurnAround (TAM) and Business Advisory Service (BAS) Programmes.

The European Union provided two million Euros to support 20 companies over a period of 30 months through TAM and 100 companies through BAS Programmes. TAM and BAS are donor-funded programmes implemented by the EBRD, aimed at fostering the development of small and medium sized private enterprises in Bosnia and Herzegovina.

“As an answer to the economic and financial crisis, we decided to dedicate special attention to Bosnia and Herzegovina in 2009, in order to help it overcome the crisis”, said Johann Hesse, Head of Operation Section for Economic Development, Natural Resources, Infrastructure at the EU Delegation to BiH.

According to him, there are two reasons for providing hep for Bosnia and Herzegovina.

“The first reason is the fulfillment of legal conditions, because BiH needs to align its laws with the legislation in the EU and fulfill it’s obligations of the SAA. This includes our policies of supporting small and medium enterprises, notably the Small Business Act. The second reason is that we want countries that are potential candidates to enhance their economic competitivness, so that, once they become EU members, their companies are able to compete in the Union”, said Hesse.

He added that this was not the only project of the EU in this field, and that the EU was investing around 10 million Euros in different projects of supporting small and medium enterprises.

Charlotte Ruhe, EBRD TAM/BAS Director, pointed out that consulting services to the small companies (BAS) are lasting for ten years now in BiH and they include grants trying to stimulate the utilisation of consulting services of business consultants.

“As far as TAM Programme, or business turning point, is concerned, it is more a long-term programme and it includes bringing foreign consultants, experts with an extraordinary experience in this field. This Programme focuses more on medium enterprises, in order to help them improve their business, make strategies, adopt new technologies, and generally  improve their management”, said Ruhe.

Giulio Moreno, Head of the EBRD Sarajevo Redsident Office, said that these Programmes were a part of overall activities of the European Bank for Reconstruction and Development. “Small and medium companies represent the foundation of economy in Bosnia and Herzegovina and we want them to be able to export their products, complete the necessary certification, introduce standards. It is a part of the crisis reaction  package that the EU has launched last year with a goal of helping Bosnia and Herzegovina”, said Moreno.

BAS exists since 2001. Since then, local consultants have been providig services in overcoming problems in management, and through TAM, foreign experts act as companies consultants over a longer period, from one year to one and a half year, in order to introduce new management culture from economically developed countries in the assisted enterprises in BiH.