Representatives of ten enterprises with strong social and environmental influence attended another workshop within the Program for Sustainable Businesses, this time under the topic of Financial Projections and Management. The workshop, led by financial expert and our longtime associate Sreten Vranić, was held on Wednesday, September 7th at Smart Kolektiv.
During the workshop, Sreten Vranić introduced the participants to the importance of financial management and the role of financial projections in business. He gave them instructions and helped them to analyze their financial indicators. . Also, they had an opportunity to learn about financial reporting and types of financial crises, as well as the ways in which bankers and investors look at company balance sheets when they are applying for loans or investments.
„Financial Projections and Management“ is the fifth out of six workshops which are designed with the goal that the ten enterprises further develop their business development strategies and prepare for impact investments. During the five months of the program, participants will undergo an intensive training process, and will also have the opportunity to apply for an innovative financial instrument – interest-free loans worth up to EUR 50,000.00. Their businesses contribute to solving different social problems – from environmental to employment problems of people with disabilities – Get to know them!
The Program for Sustainable Businesses is part of the Smart Impact Fund – Fund for the Development of Sustainable Economy, which will invest about half a million euros in the next five years in initiatives and companies that contribute to sustainable and positive changes in their communities. The Fund strives to provide long-term professional and financial support to social enterprises in various stages of development and thus contribute to the development of an economy with positive social impact. By 2024, the program will invest about half a million euros in initiatives and enterprises that contribute to sustainable and positive changes in their communities.
The Program for Sustainable Businesses is implemented with the support of EFSE Entrepreneurship Academy, Open Society Foundation, the Balkan Trust for Democracy of the German Marshall Fund of the United States and the Embassy of the Kingdom of Norway in Belgrade.
The Smart Impact Fund was launched by Smart Kolektiv in 2019 with support of EVPA – the European Venture Philanthropy Association and the former USAID-funded Framework for Giving project that was implemented by the Coalition for Giving led by the Ana and Vlade Divac Foundation.