Favourable loans for self-employment, starting up businesses and job creation

Skopje, 4th October 2016 (MIA) – Starting today, all unemployed persons who want to start up their business and to employ up to three persons in small businesses or up to five persons in medium-scale businesses, or the existing companies which want to increase the number of their employees, may apply to the Employment Agency, in the next two weeks, for a favourable loan, with 1% interest annually, one-year grace period and three-year repayment period.

As for the first self-employment measure, each unemployed person can use a loan up to EUR 3,000 for self-employment and additional EUR 3,000 for each of up to 3 employments in small business, and EUR 5,000 for self-employment and additional EUR 3,000 for each of up to 5 employments in medium-scale businesses.

The measure – crediting of companies for creating jobs envisages for creating of up to three jobs, i.e. total of EUR 9,000.

- Measures presented today are the ones for self-employment crediting and for crediting companies for creating jobs. Such measures have been implemented since 2008, resulting in creation of more than 7,000 jobs and 3.200 newly established companies. As regards this year, EUR 724,000 is provided for both measures, offering favourable conditions for doing business, Alternate Deputy Minister of Labour and Social Policy, Dime Spasov, said at today’s press conference.

He also said that these measures, the announcements thereof being published, had several positive aspects.

- They contribute to job creation, unemployment reduction, start up of new businesses, spurring of the Macedonian economy, providing for the existing companies to use favourable loans so as to create jobs and expand their business activity, Spasov said.

Minister of Finance, Kiril Minoski, underlined that jobs can be created only by establishing an effective system for private sector development, through micro, small- and medium enterprises.

- Both employment programs, for which announcements were published today, are aimed at underpinning the micro, the small- and the medium-sized enterprise. Under these programs, loans of up to EUR 17,000 can be provided for business development and job creation under exceptionally favourable conditions, Minoski stated.

EARM Director, Vlatko Popovski, pointed out that many of the companies having applied the measures in the past period are still operating on the labour market, looking for new employees and cheap loans and funds allocated under these measures.