Small and Medium-sized Enterprises (SMEs) 

This publication is an empirical study on financial information and cost of finance in Serbia.  Using the financial statement database of the Serbian Business Registers Agency (APR), we analyze the extent to which the quality of a company’s financial reporting is associated with its cost of debt. The focus of this study is small and medium enterprises (SMEs) because they represent a critical segment of the economy in most countries.

SMEs often go to their bank for a loan when it’s too late. Banks reported that many SMEs wait until they face a severe cash constraint before they come to the bank to request a loan. The company’s cash is nearly depleted, and their pockets are empty. This is too late, since banks cannot lend to companies that are nearly bankrupt.

This brochure will help you in understanding your financing needs and options.

Banks need reliable, transparent financial information when making credit decisions. A financial advisor or accountant can advise you on when it could be advantageous to seek out a bank, and help you calculate, compile, and present your information to banks.

This brochure will help you in choosing a financial advisor or accountant for your SME.

This brochure aims at helping SMEs access credit in Serbia, by providing 8 insights to help SMES how banks make lending decisions.

The bank will want a realistic picture of how much you owe to others. This is not always straightforward.

It is the first report prepared under the Accountants as Catalysts for Growth (A4G) initiative. EU-REPARIS has been designed to help and encourage the process of aligning legal frameworks in accounting and audit with the EU’s Acquis Communautaire and encourages the accounting profession to offer enterprises, especially MSMEs, effective business support services and advice on accessing finance and complying with regulatory requirements.