EVENT #1

IFC Family Business Governance Handbook in Montenegro

Participants: CEED, IFC, University of Donja Gorica (UDG)

On the occasion of the GEW, in cooperation with IFC, Center for Entrepreneurship and Economic Development translated in Montenegrin and published IFC Family Business Governance Handbook. The Handbook is concise and practical description of essential family business corporate governance components together with suggested approaches to common family business governance dilemmas.

Family businesses are considered to be the oldest and the most common type of legal entities worldwide. In many countries, 70% of all enterprises are family businesses and they play a crucial role in the growth of the economy and employment. In Montenegro, majority of SMEs are actually family businesses, but still run by the first generation. Handbook will be presented and distributed to the target audience, aiming to raise the issues of sustainability of the family businesses in Montenegro.

EVENT #2

Presentation of the Business Climate Montenegro Survey 2009 results

Participants: CEED, GTZ, SMEDD

The business climate survey provided unique information about current business conditions as well as business constraints and consequently about business forecast. The BCS 2009 in Montenegro showed that the role of SMEs in Montenegro was crucially important for development of the economy. Furthermore, the survey revealed that entrepreneurship had been strongly impacted by the global economic crisis. At the time of the survey implementation, business standings were not so bright and the expectations of general businesses were even worse then today. On the other hand, importers were the first who faced demand contractions, but according to their expectations and general public opinion, they are thought to be the first to perceive signs of recovery. In general, entrepreneurs pointed out that hampered access to financial sources and issue of payment of claims were the most serious constraints for their business development. Beside significant improvements in administration procedures, municipal and national taxes and levies are still perceived as the biggest barriers to business development. Survey has been conducted by the Centre for Entrepreneurship and Economic Development in cooperation with GTZ (German Technical Cooperation) in Montenegro and SMEDD (Small and Medium Enterprises Development Directorate).