One Labin factory goes from the worrying signs of closure to contracting brand new jobs in a dramatic yet welcome turnaround.

As Poslovni Dnevnik writes on the 30th of January, 2019, back in October last year, the Syndicate of Istria, Kvarner and Dalmatia warned that after five years of successfully dealing with mobile homes for camps, there would be a possibility of shutting down the CR Abitare factory in Labin, Istria.

Instead of getting the sack from the company, which at one point looked like an unfortunate yet very likely option, the workers of the Labin-based company CR Abitare, who produce mobile homes for camps for some of the largest tourist companies in the Republic of Croatia, received a higher salary.

The reason for the rising levels of anxiety which began back in 2018 when the possibility of the factory's closure arose, was that the production hall had gradually begun to empty, and the workers, twenty of them permanently employed and thirty seasonal workers, had no information.

But the formerly enfeebled company, according to a report from Glas Istre, has continued to operate, and unlike other large companies that have made headlines lately for all the wrong reasons, its workers have been being continually paid their salaries all the time, and the amount has risen by nine percent since the 1st of January, 2019.

In November last year, several new orders for mobile homes were contracted by the Labin company, which are now in the process of production, with delivery expected over the coming days. According to reassuring employer announcements, further orders are also expected.

Although there are currently no new jobs on offer at the Labin factory as it gets back on its feet remarkably quickly, it is to be expected that an increase in the production plan will naturally create the conditions for that at some point or another.

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With more and more Croatian brands earning international respect, the founder and owner of the Croatian brand Carwiz reveals his plans to set Croatia's newest rent-a-car company on the path of the global market through franchises already agreed with five European countries.

As Marija Crnjak/Poslovni Dnevnik writes on the 28th of January, 2019, the newest car rental service in Croatia, Carwiz, is also the first to start a franchise business outside of the Republic of Croatia, with ambitious plans for the coming three years to be present on at least twenty markets across different parts of Europe, as well as in Africa and Asia.

At a recent press conference, the first five markets the Croatian brand Carwiz will take to this year were revealed, and Poslovni Dnevnik got to hear all the details of this important move and the current situation on the domestic market, which were revealed by Krešimir Dobrilović, the founder of the completely Croatian brand Carwiz, who has been in this business almost twenty years.

Which are the first markets you plan to go to with the franchise, and how have you decided on such a step?

I've been in this business for a long time and with the Carwiz project, I've been trying to apply all of my acquired knowledge, experience, and my business relationships, but also introduce an innovative approach, and the emergence of the global market is in line with such thinking.

I have significant support from the team we've gathered together for Carwiz there, and in 2018 we began to develop a franchise business in cooperation with partners who are already doing car rentals, but have the ambition to make a step forward in their business as well as increase their traffic. At this time, we have five signed franchise agreements with partners from Bosnia and Herzegovina, Greece, Serbia, Latvia, and Cyprus.

How does your model differ from those already on the market and what do you offer to your partners?

All models in Croatia are imported franchises, and our concept has been fully developed in Croatia, in cooperation with our team and our partners such as Vip Data who have developed our software. With this front desk product, the company which will be ''under our cap'' will also have a website, a main one and a local one, as well as a brand with the entire brand book and everything that goes with it, from the standard look to employee uniforms.

However, it's crucial that, with the whole philosophy of our business, we get access to our foreign partners who will fill up the reservations.

That was the key step in the preparation of this project. It was crucial to find out how much foreign partners are willing to accompany the realisation. That's why we've carried out research and received extremely positive feedback from all the partners we're working with.

Why is cooperation with foreign partners so important, and why do they need you to get that approach?

This [foreign] cooperation is very important because there are a number of good rent-a-car companies that can't make a breakthrough to the largest number of bookings, which can only be achieved in cooperation with global online partners, which makes up about 80 percent of our business. It isn't the case that just anyone can go to Rentalcars [website] and just ask them to put them on their web platform. Building trust with such partners takes a long time and is demanding.

Through all the projects I've been through, I've continued to build the relationship that we're continuing on with Carwiz, and that's the strongest asset we can offer through the franchise. Carwiz is, on the Rentalcars site and on the American website Autoeurope, recognised as the best rent-a-car in Croatia. That's what we want to convey to our franchise partners. In addition, we offer them a price strategy, a fleet strategy, plans, tracking, and so on. Moreover, at least in these close markets such as Bosnia and Herzegovina and Serbia, we'll also be able to help our partners with the purchase of vehicles.

How did you find partners? Can we expect any further franchise expansion?

So far, they've mainly been finding us. We're additionally teamed up for a stronger search for new partners, but we're careful about who we give the franchise to.

We check companies and their business, so we have refused some of them. This involves different markets, from Greece, which thanks to tourism has a highly developed fleet market of about ten thousand vehicles, to Latvia which isn't as developed tourism-wise as Greece is, but offers other aspects of opportunities with significantly smaller fleet vehicles.

By the end of the first quarter of the current year, we will finalise the signing of agreements with partners in Morocco, Romania, and Kosovo, and we plan to be present with our brand in more than twenty countries over the next three years.

How realistic is the prospect of doing that?

We saw that it's very realistic last year at the WTM London Tourism Fair, where we were the first Croatian rent-a-car brand to have our own stand. We talked with potential partners from a total of nineteen countries, including Morocco, Poland, Vietnam, Bahrain, the United Arab Emirates, Turkey, Brazil... I believe that in a year's time, we could close the complete Baltic region, we also have indications for Russia.

What are your plans for this year with regard to new investments?

We concluded 2018 with 48 million kuna in revenue, with a profit of around 600,000 kuna, which would have been even bigger without the major investments [we carried out] in business development, primarily for the franchises. This step, along with the increase in the number of fleets, should increase this year's [revenue] to more than 65 million kuna, with a projected profit of about 3 million kuna.

Because of that, we want to increase the availability of our services in continental cities, our fleet is fairly large in the winter, consisting of more than 600 cars. During peak season last year we had 1,400 vehicles, and for this year we plan to have about 2,000 cars operating during the summer months. Therefore, we're planning new employment, and we expect to reach over 80 employees in the peak season.

Make sure to follow our dedicated Made in Croatia and business pages for more on Croatian products and services, Croatian companies, Croatian brands and much more.

Click here for the original article by Marija Crnjak for Poslovni Dnevnik

Concrete steps are being made to better acquaint Croatia's students with the importance of knowledge about EU projects, knowledge which will be advantageous on the labour market.

As Lucija Spiljak/Poslovni Dnevnik writes on the 27th of January, 2019, representatives of the Ministry of Regional Development and EU Funds and the Faculty of Economics of the University of Zagreb signed a cooperation agreement worth three million kuna, which will enable students to acquire skills and knowledge in the field of EU funds for professional practice.

This is a project that has been being discussed in the aforementioned ministry for a long time, and now partnerships through signing this contract have been formalised by the dean of this higher education institution, Jurica Pavičić, and Minister of Regional Development and EU Funds, Gabrijela Žalac. Another partner of the project is the Department of Economics of the University of Zadar, whose representatives will subsequently sign the same contract.

"It's a great pleasure for our students to have the opportunity to improve themselves in something that is important for them, their careers, and to their future employers. Students have recognised the importance of knowledge about EU funds and have shown great interest in this area, aware that this will be an important component when they go out to look for a job. We're glad that we've partnered with the Ministry and that the University of Zadar is ready to join in with this project,'' said the Dean.

The cooperation agreement also concerns the strengthening of the Regional Development Academy, which has been in existence for many years within the ministry and cooperates with the University of Zagreb and faculties at the project level, in the interest of enhancing cooperation on the issue of student education, which is the backbone of regional development and the management of EU structural and investment funds.

"We want to strengthen our capacities at all levels so that through the professional knowledge and mentoring of our people in the Ministry of Economics, students from Zagreb and Zadar are able to train for the labour market. Our students have a decisive role in the dynamics of fundraising and the socio-economic progress of the coming period. The aim is to build a strategic partnership with healthcare institutions in the Republic of Croatia. We've been a full member of the EU for five and a half years and I think it's now time to allow students to acquire knowledge and skills in the area of ​​EU funds management and their use,'' said the minister, adding that European structural and investment funds make up 80 percent of public investments in the Republic of Croatia.

"Since we're the youngest member state of the EU, we're still at the beginning. This seven-year financial period, when we'll use European funds for the very first time, will certainly be a great experience for what follows in 2021,'' said Žalac, mentioning that MRRFEU and the Central Finance and Contracting Agency for EU Programs and Projects conducted research with results which show that there are 2700 experts missing in Croatia for the field of implementing EU projects.

"Therefore, we'd like to enable our students of economic orientation to provide professional practice with the help of EU funds, to provide new useful facilities for building a business career, with additional values ​​that strengthen their competence on the labour market," added Minister Žalac before thanking everyone who participated in the implementation process of this project.

Make sure to follow our dedicated politics page for more information on EU projects and much more.

Click here for the original article by Lucija Spiljak for Poslovni Dnevnik

The Days of jobs in tourism events across three Croatian cities, both in continental Croatia and on the coast, are set to offer new employment opportunities for many seeking to enter into the world of tourism, which is by far Croatia's greatest economic asset.

While jobs in Croatia might appear to be few and far between for many of those seeking opportunities elsewhere across the territory of the European Union, tourism remains by far the strongest sector in Croatia, with numerous positions available up and down the coast, and doors opening even in the previously overlooked continental part of Croatia as more and more tourists 

As Poslovni Dnevnik writes on the 25th of January, 2019, the Days of jobs in tourism event will bring together many Croatian employers from across the tourism sector to get both currently unemployed people and those seeking a career change interested in working in Croatia's booming tourism sector this upcoming summer season.

The ''Days of jobs in tourism" event will be held for the third consecutive year this year under the official organisation of the Ministry of Labour and Pensions, the Ministry of Tourism, the Croatian Employment Service and the Croatian National Tourist Board.

The aim of this event is to enable employers and the currently unemployed to connect with each other, gain important information on employment opportunities and engage in tourism career development in one place.

According to the estimates of the event's organisers, this year, "Days of jobs in tourism" will bring together more than 120 employers and more than 17,000 visitors seeking seasonal employment from three cities - January the 18th in Osijek, January the 25th in Zagreb and February the 1st down on the coast itself in Split.

Minister of Labour Marko Pavić and Tourism Minister Gari Cappelli paid a visit to the Zagreb event which start at 10:00 today at the Zagreb Fair (Velesajam).

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As Poslovni Dnevnik writes on the 24th of January, 2019, at this stage, the Croatian production company Dilj d.o.o. is set to invest significant resources in the overhaul of the plant, and the plan is to put additional resources in the next phase to raise and expand the capacity of their brick factory.

This Vinkovci-based Croatian production company is a manufacturer of brick, tile, grout and special roof elements, which exports 70 percent of its production to both European and non-European markets. Dilj d.o.o. rescued a small brick factory from Našice, which was in the process of going into liquidation. In the very process of bankruptcy, the move saw it successfully renew its production.

In addition to saving production, they saved fifty grateful employees from certain job losses, which would have meant that nearly fifty families would have been left without income. The director of Dilja d.o.o. Dražen Ivezić recalls that the Slavko IGM Našice brick factory went into bankruptcy at the end of 2014 due to problems that were the result of the crisis, which was felt the most by the construction sector, and as material producers, they were hit hard.

As Glas Slavonije writes, at the time of bankruptcy, about fifty workers were employed at the plant, manufacturing a production line of about fifty million units of normal sized and more than ten million block bricks.

The Croatian production company asked the bankruptcy trustee to take over the factory, hire the current workers and continue on with production, and got approval from the creditor council for that step.

''On May the 18th, 2015, we signed a lease contract and continued production. After less than a month and a half, as soon as July the 1st, production continued and everything went smoothly.

Production continued over the next three years, and at the end of last year, Dilj d.o.o. proposed to the bankruptcy trustee and the creditor council to complete the bankruptcy proceedings with the creditor settlement and to take over Slavonia's IGM. After the creditors accepted the bankruptcy plan, in late 2018 Slavonia IGM formally went bankrupt, meaning the preservation of production with a long tradition, as well as the preservation of jobs in the processing industry in Slavonia, which is of particular significance,'' stated Dražen Ivezić, the director of the largest tile factory in the Republic of Croatia with a 95-year-long line tradition of production, unbroken even during various wars.

He added that after the winter renovation phase, the plan for Slavonia's IGM is to be at full capacity by the end of this year, and they are planning to sell everything they produce.

Stay up to date with everything you need to know about doing business in Croatia, the economy, the job situation and the investment climate by following our dedicated business page.

To briefly recall, Gredelj's bankruptcy began back on October the 1st, 2012, and an encouraging letter of intent from an Austrian railway company is a possible path to its end. Could an Austrian acquisition be the end of Gredelj's long list of problems?

As Poslovni Dnevnik/Suzana Varosanec writes on the 23rd of January, 2019, the Austrian company OBB-Technische Services GmbH operating in the Austrian Federal Railways has provided a letter of intent on expressing an interest in the possible purchase of Croatia's TŽV Gredelj d.o.o., which is in bankruptcy.

This information has now been officially confirmed, as have the decisions made by Gredelj following it, the company promptly authorised bankruptcy trustee Tomislav Đurić to initiate some preliminary talks. As the Austrians are, at least formally, the only interested party, perhaps this is the way for Gredelj to finally claw its way out of the dark tunnel of bankruptcy. Despite its issues, it wouldn't be right to exclude its importance, or that other interested investors, including those which are already familiar with the situation won't pop up at the last minute, the same can be said for the potential of Russian capital suddenly knocking at the door.

The first meeting between the aforementioned Austrian railway company and Gredelj's bankruptcy trustee should be held this month, but the final position on this possibility, which has suddenly been opened up as a possible solution to Gredelj's acquisition, will still have to be waited on for a certain period. This delay is key to assessing the viability of investing in TŽV Gredelj, but is also the determining factor on how to complete the bankruptcy proceedings which commenced back on the 1st of October 2012, Most importantly, this order of things needs to take place because of which the process which is being conducted - the plan to settle the company's bankruptcy and provide a final resolution to its creditors.

This manufacturing company and ex-component of Croatian Railways will not be sold below the asking price, but will also not be liquidated through the sale of large tangible assets. "TŽV Gredelj, with its 410 employees, is the only company in the region that can carry out all [types of] repairs on locomotives and wagons, both those that are simpler and those which are more complex," stated Đurić, dismissing the worrying Gredelj liquidation scenario.

Several meetings with representatives of the Austrian railway company are expected to be organised. Other important aspects, such as all the data on Gredelj's technological and production capabilities, first became known to the Austrians on the basis of their recent collaboration with LocoTech.

Just how things will proceed between the currently interested Austrian railway company and Gredelj is yet to be seen and the enfeebled Croatian company is far from out of the woods it entered back in 2012 yet. However, a concrete expression of interest from the Austrians, who are typically very serious in such matters, is a step in the right direction.

Make sure to stay up to date with our dedicated business page for much more.

Click here for the original article by Suzana Varosanec on Poslovni Dnevnik

The Varaždin-based Croatian company Varteks has been producing dresses, coats, jackets and other clothing for specialised purposes, including uniforms for the Croatian Army, the police and the like for 101 years now.

As Poslovni Dnevnik writes on the 23rd of January, 2019, in three production plants in a complex of red brick buildings in the centre of Varaždin, several hundred workers are working daily in one shift on quality garment collections. In Varaždin's Varteks, 24sata journalists were welcomed and hosted by Nenad Bakić, president of Varteks' administration. He took them through all three production facilities. That day, designers who came to Varteks presented Bakić and his associates the new women's collection - business elegance.

''First, we do prototypes of the clothing, then after consultations they go off for additional finishing should that be necessary. After that, we make a collector's sample, a hand-made version that is produced in a small number of copies. If there are no more changes to be made, we make and launch the product,'' explained Bakić. Currently, Varteks is launching its latest elegant collection made with younger people in mind, called Varteks Young.

''We can split production into several phases. Everything begins with the tailor, from the threading and onwards. There, the machine cutter does almost everything itself according to the instructions on the screen. After that, sewing begins. All the parts from the cutter are picked up and people connect them in smaller segments. Then everything is shifted into the assembly, the middle part of production, where some segments are assembled and come to the end with finishing and the final ironing. After that, what's most important to us is quality control. If everything is fine, the goods are sent to the warehouse and are made ready for shipping, to our stores or to our customers,'' explained Miljenko Vidaček, production manager at Varteks. He adds that it takes about four hours to make a suit.

Varteks produces a very wide range of merchandise, its production manager emphasises the fact that Varteks is among the most flexible companies in this part of Europe as a whole.

''We were coming to the end, pre-bankruptcy. We're incredibly grateful to Mr. Bakić for the fact that we're still here,'' Varteks' grateful employees conclude.

For more information on Croatian companies, products and services, as well as doing business in Croatia and the overall business and investment climate, follow our dedicated business page.

Uljanik's woes continue as workers endure difficult times and strategic partners for the enfeebled Pula shipyard's appear to be moving cautiously and slowly. Despite that, the burdened Croatian shipyard is currently involved in completing the construction of the most expensive vessel constructed in any shipyard in the Republic of Croatia.

As Novac.hr/Barbara Ban  writes on the 18th of January, 2019, Australian Glen Moroney's Scenic Eclipse polar cruiser of the Scenic Group is currently in its final phases at Uljanik.

The outside molding of this luxurious polar vessel, which was worked on by as many as 400 to 700 people was completed, out of which about ten percent of Uljanik's employees were directly engaged. The rest of the ship has been being built by some of Uljanik's co-operatives and people from the Scenic Group itself. When finally finished, it will be part of a fleet of twenty luxury cruisers of which the aforementioned company is proud.

In addition, the vessel should be receiving its very first guests as early as this year, albeit with a great deal of delays given the fact that it was supposed to embark on its first trip at the end of August 2018. Work on the boat is now continuing without interruption, and on his first voyage, the cruiser will travel around the Mediterranean, with its first port of call being Barcelona. Booking for that trip has gone ahead, and because of the unwelcome delay the prices are somewhat less than they were originally. For all those who booked the first trip when the vessel was meant to be completed last summer, the company refunded customers their cancellation fees.

''This cruiser is one of the most complex vessels in its segment being built today on a global level and we're proud of it. We experienced significant difficulties where there was a shift in deadlines, however, Uljanik possesses the knowledge to create such a vessel in record time in relation to the circumstances. On several occasions, the owner himself emphasised that, in relation to the circumstances, the execution time was something beyond his expectations. The ship is now in its final phase,'' stated Uljanik's managing director Emil Bulić.

Otherwise, the Scenic Group commissioned another such vessel from Uljanik, and Uljanik has offered assurances that the shipowner has no intent of terminating this contract which was concluded a year ago. On the other hand, Australia's Moroney is one of the investors who is interested in Uljanik himself.

Give our business page a follow to stay up to date with Uljanik's unfolding situation and much more.

Click here for the original article by Barbara Ban for Novac.hr

WBAF Croatia will focus on facilitating access to finance for start-ups, start-ups, MSPs and fast-growing companies, and will start with international training programs for investors. Baybar Altuntaşa, a successful Turkish entrepreneur and investor is set to kickstart his very first Croatian project.

As Bernard Ivezic/Poslovni Dnevnik writes on the 19th of January, 2019, on Monday, January the 21st, in Zabok's Bračak castle, the first office of the World Investment Forum of Business Angels (WBAF) opens in the European Union. As we reported recently, the office will provide education for startups and business angels as it has been available in London. This includes elite tourism and the support of Krapina-Zagorje County. Such unusual news is otherwise an everyday thing for Baybar Altuntaşa. This prosperous Turkish entrepreneur, angel investor and entrepreneur promoter has a number of international success stories behind him.

Over in Turkey, he is also celebrated as a TV star in their version of the entrepreneurial reality show Shark Tank. He is the president of the Turkish Business Angels Network (TBAA), vice president of the European Business Angels Network (EBAN) and founder and president of WBAF. He has been coming to Croatia fairly regularly since visiting for the very first time back in 2015, and Poslovni Dnevnik talked with Altuntaş about his debut Croatian project.

You developed the QBAC program based on the WBAF program on the London Stock Exchange. You have been an advisor for this LSE program. What exactly did this program offer to LSE investors?

First of all, the WBAF wants to help increase financial engagement across the globe. We also want to help investors make good and early returns on their investment, as this generates resources for more investment in new startups. And thirdly, the WBAF wants to speed up the conversion of public money into smart money, to encourage innovation. We've designed a course to provide business angels with knowledge and tools to help them achieve their own goals as investors, which in return will contribute to achieving the WBAF's goals for the entrepreneurial ecosystem.

How will the Croatian version of QBAC, called QBAC Bootcamp Croatia, differ from those over in London?

In Croatia, we've strengthened the bootcamp with panel discussions, round tables and debates. It will be comprehensive and will involve a cultural interaction with the Croatian investment ecosystem. This will also include visits to technoparks, student meetings, and fundraising for startups.

How did you come to the assessment that for QBAC Bootcamp Croatia there is a market of 500,000 business angels, ie, potential customers?

I believe that Croatia will be a training center for European investors, through the WBAF training programs that will be implemented there. The European Business Angels Network statistics for 2017 reveal that 320,000 business angels invested 9.6 billion euros in Europe in that year. Furthermore, the Angel Capital Association (ACA) statistics show that 340,000 business angels filed 26 billion dollars in the United States last year.

As the QBAC Bootcamp Croatia is new and the only such thing in the world, it's clear that none of these thousands of business angels received a Qualified Business Angels Certificate, and most of them were not licensed by their governments as a business angel. Holding a certificate or a license, of course, isn't mandatory for somebody who wants to invest. However, it's understood that a training program which reduces risks and increases the return on investment for business angels is of great importance. Learning through work is very different from what you do after having learned something.

What are the expectations of the WBAF from the office in Croatia?

By opening this office, the WBAF provides Croatia with the opportunity to network in the investment world. It will have a co-ordination role for EU members entrusted to it, in which the WBAF has high representatives in Austria, Bulgaria, Czech Republic, Denmark, Estonia, France, Germany, Greece, Portugal, Romania, Spain, and Switzerland.

The countries you mention, which will be "covered" by the Croatian office, usually have bigger and more active communities of business angels than Croatia. What is Croatia's advantage to you, and why are you opening the first office in the EU here?

Croatia is the birthplace of Nikola Tesla, one of the most important inventors of the 19th century and the symbol of inventiveness. Today, in the 21st century, through WBAF Croatia, inventors in Croatia will be better connected with global capital markets and smart financing through business angels. The result of this convergence will be innovations that will create a major competitive advantage for the Croatian economy. The WBAF Office in Croatia means more startups, new ideas, smart financing, and innovation.

How did the office opening project in Croatia evolve? The initiative allegedly came from Krapina-Zagorje County prefect Željko Kolar?

Yes, months ago, Željko Kolar invited me to visit Zabok. We saw the castle of Bračak and learned a lot about its history. I was impressed by how the county had turned such a historic building into a modern, smart building.

Prefect Kolar told me that he wanted to turn Zagorje into a centre for entrepreneurship, startup and innovation in the EU. At the Croatian level, that county wants to strengthen the startup community throughout the country. But they're looking further and further afield. They're planning to network entrepreneurs and investor angels from around the world, and because of that they're stimulating the growth of small and medium businesses and creating new jobs. A simpler approach to financing, this beyond the framework of the usual banking system, is conducive to accelerating financial inclusion as an integral part of the strategy that should affect society at the local and at the national level. I wondered if it was possible for such a small country to become Europe's leader in innovation. Then I left Croatia with this thought in mind.

After that, what personally motivated you to open up the WBAF office in Croatia?

Croatia's success at the FIFA World Cup in 2018 encouraged me to support this project. Croatia isn't a big country and it only has four million people, but the way the Croatian national football team managed to get to the final and defeated the teams of Germany, Great Britain, Spain, Italy, Brazil, China and Turkey, that's a miracle. Then I decided to look at the Kolar's project much more seriously and I presented the idea of ​​opening the WBAF offices of Croatia to the members of the administration. All the members of the board were in the meeting and we agreed at once - It doesn't matter how big the country is! It's important how ''big'' the people are, how persistent, and passionate they are to realise their dreams.

What can startups and business angels in Croatia expect from the WBAF office?

WBAF Croatia will focus on facilitating access to finance for entrepreneurs, start-ups, small and medium-sized enterprises, and fast-growing businesses, and will start with international training programs for investors. The plan is, moreover, to promote programs for entrepreneurs who will prepare them for receiving investments, organise investment forums for startups, arrange international investors' arrivals to Croatia, and promote Croatian entrepreneurs and businesses globally.

The WBAF office is opening under a licensed model. What are the conditions [for that]?

The office in Croatia will be managed by the Entrepreneurship Centre of Krapina-Zagorje County, which has a WBAF license. The president of the WBAF steering board in the Republic of Croatia will be Prefect Željko Kolar. By taking over this responsibility, the county will become part of the world's financial and business network, which aims to facilitate access to capital for entrepreneurs of start-ups and entrepreneurs in the intensive growth phase.

Will there be cooperation between offices in Croatia with those in Tanzania, Macedonia or future offices in Brazil and other countries?

The WBAF believes that launching an office at the national level provides a great opportunity for governments to discover the real power of startups and businesses to boost their economies through innovation, investments, business angels. and entrepreneurship. It's good to see that governments around the world realise the importance of investing, business angels, and entrepreneurship to foster the development of their economies.

Many governments, especially those in Europe, offer generous tax incentives for angel investments. To support such a system, the UK and Turkey have already adopted laws on business angels investing. Islamic economies have also begun to see the importance of the capital market at an early stage. In fact, the Islamic Development Bank has included angel investments on its list of recommended topics that should be considered at its annual conference in Jakarta.

The WBAF is inviting all governments and policy makers to use their knowledge, mentoring and networking of qualified business angels, and to turn public funding into smart financing by establishing close co-operation between public institutions and private resources. Working together across borders, with a common vision, we're in a good position to make positive changes in the global economy. I'm sure that co-operation with other WBAF offices across the world will enable a faster impact on both the Croatian and world economies.

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Click here for the original article/interview by Bernard Ivezic for Poslovni Dnevnik

As Poslovni Dnevnik writes on the 16th of January, 2019, Osijek's "IT park" business zone story is beginning to develop after a lot of back and forth on the issue, much to the satisfaction of interested parties. The City of Osijek and its numerous IT companies whose business results and success have put Osijek firmly on the map, are leading it to become a focus of the Croatian IT scene.

Glas Slavonije reported that its very last session last year, Osijek's City Council adopted a proposal for a decision on the establishment of the "IT Park" business zone with the aim of attracting investment and opening up new jobs in the IT sector. The value of the investment stands at a massive eighteen million kuna. In the IT park itself, which boasts a total area of ​​2.5 hectares, bigger companies will be able to buy plots of land for the construction of their own buildings, and the City of Osijek will deal with and construct all the necessary infrastructure and business buildings for small IT companies.

In addition to this measure, the City of Osijek has also implemented a program of incentives and breaks for the purchase of plots in this zone, which became valid after being published in the Official Gazette. Osijek's city administration has, once again, prepared a set of "different modules which contain certain measures (incentives and facilitations) aimed at attracting both domestic and foreign investors from the IT sector to long-term investments in the ''IT park'' business zone in Osijek.'' The goal of this measure is very clear, the aim is to create new jobs, reduce unemployment and ensure a high quality environment for the development and operation of the IT sector in Osijek.

Basically, companies will have the right to incentives and numerous forms of breaks if, according to the national classification law, they belong to one of the three priority groups. In the first group, there are, for example, computer programming or computer hardware and software management, in the second group lies production (electrical components, computer and peripheral equipment), in the third group comes processing and computer games.

The reduction in the price of plots of land intended for construction is 10 to 30 percent, depending on the group. If Osijek's new economic facility is built within 24 months of the conclusion of a construction contract, the land price will be reduced by as much as 40 percent. If, in the year preceding the year of the conclusion of the sales contract, a minimum of 1 million kuna is realised, the right to a price reduction of 10 percent will come into force.

Of course, the biggest reduction in the price is related to creating jobs and offering new employment possibilities. An entrepreneur who, from the moment of signing a contract on the establishment a land sale for construction maintains the existing number of employees, earns the right to a 10 percent reduction, if he or she hires up to ten workers, a 30 percent reduction follows, and if he or she hires more than 20 workers, the price reduction will stand at a massive 60 percent.

Make sure to stay up to date with everything you need to know about investment and doing business in Osijek and in Croatia as a whole by following our dedicated business page.