Other sources of funding

Financial instruments based on investment in company capital are particularly important for innovative and fast-growing SMEs. Although these enterprises form a small part of the SMEs, they are crucial to ensuring long-term country competitiveness in market segments in the expansion (eg. digital technology and information and communication technologies). These financial instruments in developed countries play a very important role in financing SMEs, while they are only in the lead.

  • Accelerators are in some way a continuation of the incubator. They are business spaces that receive those who have already developed their business model, have come to the first product (come out of the incubator) and help them "accelerate" their development. This "acceleration" is mainly reduced to advanced "networking", i.e. creating relationships and contacts with larger companies, companies, and individuals who can take your business to the next level, which you would not be able to come up with at this stage of your business development.
  • Financial instruments based on investments in company capital in the developed countries are dealing with risk capital funds. Risk capital represents a special type of equity invested in economic entities in the stages of establishment, early development and expansion. Risk capital funds are most often established in the form of a limited partnership, a limited liability company or a joint-stock company, manage private equity investors and invest in the form of equity participation in the capital and / or equity capital of SMEs of high development potential in the phases of establishment, early development and expansion.
  • By investing in the capital of potentially rapidly growing enterprises, business angels also deal with individuals who invest their own private capital, knowledge and experience in young companies with high development potential in the early stages of founding and developing in exchange for their ownership stake in them (business angels). The Serbian Business Angels Network (SBAN), the Serbian Association of Private Investors in Capital Companies (SPEA), was established in the Republic of Serbia.
  • Crowdfunding (group financing) is a method of financing a project by raising funds from a large number of individuals, primarily through the online crowdfunding platform.
  • Innovation vouchers represent a simple financial incentive that enables small and medium-sized enterprises to, using the services of the scientific research sector, raise the level of innovation of their products and become more competitive on the market. At the same time, cooperation in science and economy is encouraged in this way, which is one of the prerequisites for the development of the competitiveness of the economy in Serbia.
  • Microfinance in the Republic of Serbia is poorly represented, although it is an important alternative to the economically weakest companies, which often can not meet the conditions for obtaining bank loans. Two organizations that deal with this business in the Republic of Serbia (Agroinvest, MikroFinS) receive financial support from international donors, but they can not sell the funds directly, but through commercial banks.
  • The basic concept of leasing lies in the right of the user to use the object of the lease, although not its owner. The leasing provider reserves the right to own the leased object for the duration of the contract. The two basic types of leasing are financial and operational leasing, depending on whether the purchase or use of the leased item is financed. Operating leasing is a short-term lease contract where the contract period is usually shorter than the useful economic life of the lease. Upon expiration of the lease, the subject of the lease is returned to the donor. Financial leasing implies that after the expiration of the contract, the beneficiary of the financial lease becomes the owner of the object, if so indicated in the contract.
  • Factoring is a financial service for the purchase of an existing unrecognized or future short-term cash receivable arising from a contract for the sale of goods or the provision of services in the country and abroad. The subject of factoring may be any existing short-term or future, whole or partly, short-term cash receivable arising from a contract for the sale of goods or the provision of services concluded between legal entities and entrepreneurs.