Čadež: Easier Access to Finance and Integration into the EU Single Market Are Key to Boosting Competitiveness of WB Companies

In Serbia, with the support of the Chamber of Commerce and Industry of Serbia (CCIS), more than 10,000 companies have used the services of the Enterprise Europe Network, and over 25,000 bilateral meetings have been held — clear indicators of the network’s importance in strengthening the competitiveness of our companies. However, access to finance remains one of the key challenges for small and medium-sized enterprises (SMEs) in the region, along with administrative barriers in doing business with the EU. Faster integration of Western Balkan companies into the EU single market and easier access to financing remain critical factors in enhancing competitiveness in the region, said Marko Čadež, President of the CCIS, at the opening of the regional conference “Open4Business: Empowering MSMEs in the Western Balkans – The Path to the EU.”

“The world has changed, but issues such as limited access to finance for SMEs are still very present, especially in our region,” said Čadež, emphasizing that financial support programs like WBIF are essential for SME development. He stressed that the approach to funding also needs to evolve from the perspective of commercial banks. “Commercial banks are increasingly participating not just as intermediaries but also as investors in equity funds, which is a positive step forward for the entire region,” he noted.

Equally important is removing regulatory barriers that restrict business operations in the Western Balkans. “Funding is important, but it’s not everything. If you have access to finance but face heavy administrative burdens, it is still difficult to grow. Money doesn’t help if you’re limited by the regulatory framework. We see what's happening globally and in the EU, which is our largest trading partner. That’s why it is crucial for companies from the region to gain full access to the EU single market even before formal membership. This very idea is reflected in the EU’s Growth Plan for the Western Balkans — to level the playing field for companies in the region with their counterparts in the EU,” emphasized Čadež.

The CCIS President reminded that the Western Balkans Chamber Investment Forum (CIF WB) was established eight years ago to open new opportunities for companies and strengthen dialogue with EU institutions. He announced that the region’s chambers of commerce will continue to develop new tools and services to keep companies informed in a timely manner about available financial support programs.

Emanuele Giaufret, Ambassador and Head of the EU Delegation to Serbia, stated that the EU is the largest trading partner for all Western Balkan countries and will continue to promote competitiveness and sustainable development in the region. He also emphasized that the EU remains the biggest supporter of the private sector.
“Many countries in the region have already accessed over €600 million in funding, with total investments reaching €7 billion,” said Giaufret. According to him, the EU supports not only the business environment but also innovation. “We have a new support package for the private sector, especially in light of the EU’s upcoming enlargement. The goal is for Western Balkan countries to move closer to the EU as much as possible by 2027,” Giaufret said. He added that the aim is to align the region’s economies with European standards and values, promote cross-border trade and a shared future, and ensure that reforms undertaken by regional governments lead to a more favorable business environment, stronger competitiveness, and the rule of law.

Adrijana Mesarović, Acting Minister of Economy, emphasized that the SME sector is the backbone of the Serbian economy, with over 110,000 active entities employing more than two-thirds of the working-age population.

“This sector is the pillar of the economy and a driver of social development. In recent years, Serbia has maintained macroeconomic stability and has been recognized as a reliable partner for long-term investments. However, global geopolitical instability also impacts local economies, and Serbia is no exception. That’s why continuous dialogue between the state and the business community is essential to jointly respond to challenges,” said Mesarović. She underlined that the European Union is a key partner in developing the SME sector and announced a new project to be launched in September, coordinated by the Faculty of Technical Sciences in Novi Sad, aimed at strengthening cooperation between businesses and the academic community.
“Entrepreneurs in the Western Balkans have shown resilience, strength, and creativity. Now is the time to support that energy through better access to finance, digital and green transformation, and internationalization,” Mesarović concluded.