Old Town Municipality and Institute for Youth Development KULT to finance seven youth business plans

SARAJevo, (Patria) - Seven business plans proposed by young people from the Old Town municipality will be realized in the coming months thanks to funding from the Old Town Municipality and the Institute for Youth Development KULT. Thanks to non-refundable funds for their start-up businesses, trades such as auto mechanic, auto painter, photographer, hairdresser will be launched, as well as the creation of video games and 3D printing, and a veterinary pharmacy will be opened.

The Municipality and KULT announced a public call for the promotion of entrepreneurship and self-employment of youth from the Old Town area from October 14 to December 14, through co-financing the costs of starting and developing their own businesses. Unemployed young people up to 35 years of age, residing in the area of this municipality for at least two consecutive years, could apply, along with a certified statement confirming that upon approval of their business idea, they will register and develop their own business in the Old Town Sarajevo municipality.

The submitted business plans and ideas were reviewed by the Commission for the Implementation of the Procedure for Granting Non-Refundable Funds for Start-up Businesses, which selected the seven most successful out of 19 received.

According to information from the competent Department for Local Development, this year the most interesting business plans were offered. "The Commission selected the seven best business plans, including a project for the creation of unique gifts made using 3D technology: ancient ornaments, home decor, vases, glasses, bowls... according to the client's wishes. Also noteworthy is the business idea of opening a veterinary pharmacy in the Old Town to enable pet owners to have services in their municipality, offering medicines, vitamins, supplements, and more for pets," the Department stated.

Young people from the Old Town also want to engage in auto mechanics and auto painting trades, as well as hairdressing, while at the same time being interested in strengthening the video game industry in Bosnia and Herzegovina. "One of the business plans to be financed is the provision of software and video game development and design services for foreign and domestic clients. The goal of this project is to strengthen the video game industry in Bosnia and Herzegovina through the development of its own video games," added the Department for Local Development.

Contracts with beneficiaries are currently being signed, after which they have a period of 12 months to implement their business plans.

The total amount allocated for the financing of these projects is 40,000 KM, with funds provided in equal proportions by the Old Town Municipality and the Institute for Youth Development KULT.

In the previous two years, the Old Town Municipality allocated 30,000 KM for the financing of young people's business ideas, thanks to which six business plans were launched in this municipality.