Business Plan Competition
Since since 2008 until present BSC Bar has organized 11 cycles of competition for the best business plan. The competition which was announced by BSC Bar usually twice a year was open to all potential and established entrepreneurs and SMEs from all over Montenegro. They need to present their business ideas (for starting new business or for expanding operations) in form of a business plan and to apply. Official Election Commission has evaluated business plans in two rounds. First round was the evaluation of business plan and the second round was the evaluation of the entrepreneur's presentation of the business idea. Based on their evaluations the loans were allocated to the winners with maximum loan amounting to 10,000 euros for start up business and up to 15,000 euros for existing business. Loans were placed through NLB Montenegrobanka under the following conditions:
6% interest rate
6 months grace period
up to 4 years maturity
In addition to the credit support best business plans were receiving free registration and product-consulting, as well as the possibility of renting office space in business incubator under favorable conditions.
Until now, the BSC Bar supported over 80 companies with micro-credits.