Start date:  July 1, 2011
End date:    June 30, 2016 
Project budget (Life of Project):  $1,979,400 
Implementer: Center for Entrepreneurship and Executive Development (CEED) 

Objectives

Enhance economic growth and increase job creation by strengthening microenterprises to maximize their contribution to the national economy. The core pool of project beneficiaries will consist of 180 microenterprises and entrepreneurs from four Macedonian regions.

Components

Practical Micro Entrepreneurial Learning Programs: CEED is adapting and expanding its existing training programs, which focus on larger enterprises, to the unique needs of micro and small enterprises and start-ups in four regions: Skopje, Polog, Southeast and Vardar. The Entrepreneurs Class program includes exchanges with more experienced entrepreneurs on topics such as access to finance, business planning, sales and marketing, as well as networking sessions. The more advanced Financial Program covers topics such as financial analysis and management, and includes a financial diagnostic of the company.

Business Support Services for Regional Growth: Project assistance enables microenterprises to expand into regional markets, improve product offerings and introduce new management practices.  It offers opportunities for finding a partner or learning about the markets in Kosovo, Albania and Serbia through the CEED offices in those countries.  The project provides technical assistance in areas such as financial management, technology implementation, quality certifications and developing business plans for expansion.

Small Equity, Quasi Equity and Angel Capital for Microenterprises: CEED established a new fund to invest capital into selected microenterprises that demonstrate a capability to expand profitably to local and regional markets.  The fund will total $800,000 and invest in approximately 10 firms with an average investment of $80,000 per firm. 

Expected Results/Impact

• At least 250 jobs created in the assisted microenterprises. 
• Business expansion of 10 firms through equity investment of $800,000.
• Increased sales by small businesses through expansion into local and regional markets.
• Increased sharing of information on business management practices among small business owners through stronger networking.

CEED, created in 2007, is a legacy institution of USAID Macedonia.  The current project’s activities are based on approaches already successfully implemented with small and medium enterprises over the past ten years with USAID support.  In the first year of this project’s implementation, 63 entrepreneurs participated in the learning program, 63 new jobs were created in the microenterprises they run, and 30 of them introduced new practices in their businesses.  As a result of the various networking opportunities, participants concluded 62 new business deals.

Contact Information