An entrepreneurial spirit and innovative projects exist in Macedonia, however it is necessary to motivate and encourage people in an attempt to implement their ideas and create their own businesses.

This was stressed Thursday at an event marking the 10^th European Day of the Entrepreneur and the European Week of Small and Medium-sized Enterprises, organized by the European Business Association.

Of 101,600 companies that are registered in Macedonia, 98,000 are small and medium-sized companies, which are considered an integral segment of Macedonia’s economy.

“These are companies with ideas and dynamics ready to take on bigger challenges and risks. Hopefully in the future, when we would be celebrating the 20^th jubilee, these companies could grow into becoming large-size companies, which the Macedonian economy will rely on,” stated Gligor Bishev, president of the European Business Association.

Entrepreneurs are a vital segment of the economy of a country in the long-run, according to Deputy PM Vladimir Pesevski.

“The government of Macedonia for years through its policies and programs has undertaken activities in a bid to champion entrepreneurship by financing those willing to found start-up companies or by developing programs for support, including the one providing a line of credits through the European Investment Bank (EIB),” Pesevski said.

Recently, he added, EUR 25 million were allocated through the self-employment program and 7,600 companies were established. Furthermore, over 1,600 companies were supported through the EIB credit lines and more than 6,600 jobs were created.

“I urge young people and all those who have ideas to find the courage and ask for assistance in the many programs being offered for launching a business,” the Deputy PM noted.

The European Day of the Entrepreneurs and the European Week of Small and Medium-sized Enterprises is also supported by the City of Skopje.

As part of the activities marking the Day of the Entrepreneur, nearly dozen innovative projects will be presented with the top two qualifying for a regional competition in Sofia.