During May, Smart Kolektiv conducted a new research on the impact of the COVID-19 crisis on businesses and entrepreneurs in Serbia, this time in cooperation with the European Fund for Southeast Europe (EFSE).

During March and April, Smart Kolektiv conducted an initial research on the consequences of the COVID crisis on the MSME sector. After more than a month since then, a lot has changed. Many businesses had to turn to an alternative type of business or to suspend activities altogether. The Government of the Republic of Serbia has come out with its package of measures to help the economy, after which other actors developed their strategies to support the economy, especially micro and small enterprises, which are the most vital pillar of the economy.One of such actors is one of the largest development funds in the world, the European Fund for Southeast Europe (EFSE), which aims to encourage economic development and prosperity in this part of Europe by investing in the development of micro and small businesses, as well as improving living conditions for private households. Based on its already active activities and contributions in Serbia, the EFSE Development Fund will, using the results of this research and with the help of local partners, strive to develop an adequate strategy to support the domestic entrepreneurial ecosystem. This research was intended for all entrepreneurs, agricultural farms, owners of micro and small enterprises in Serbia, regardless of whether they are registered or not. The research had an international character, we joined forces with our partners from Foundation 787 and AdVision Finance, in order to get a better and more accurate picture of the current situation in entrepreneurial communities in four countries – Bosnia and Herzegovina, Serbia, Turkey and Georgia.