Small businesses power the Croatian economy. But they often struggle to get finance. European Union financing is changing that

Ante Jurišić has always wanted to create the next big thing in the world of information and communication technology. In 2005, he joined SedamIT as a junior system engineer, a small company delivering information and communication technology solutions and services in Zagreb. Today, he leads the company in breaking new ground and becoming an IT industry pioneer in Croatia.

“It is a Croatian success story,” says Jurišić. “We were 50 people, and today we are 150. We are collaborating with several big public and private companies and have offices in four cities, along with three internal start-ups and one subsidiary.”

Croatia has about 180 000 small and medium-sized companies. They employ around 760 000 people, making it one the most important sources of jobs in the country. They are also engines of economic growth and social development, contributing significantly to the stability of the Croatian economy.

“We have brilliant minds in our country, cultivated by an excellent climate for innovation and many successful entrepreneurs,” says Jurišić. “We prove that even a small country like Croatia can lead the way in technological development breakthroughs in Europe and across the world.”

Some of Sedam’s financing came, ultimately, from the European Union.

The European Investment Fund, part of the EIB Group owned by the 27 EU member states, signed a €350 million deal in 2021 with Erste & Steiermärkische Bank to provide loans and leases to innovative small and medium-sized companies in Croatia. It’s just one of many investments in Croatia by the European Union’s financing arm. Last year, we invested €464 million in Croatia, which is equal to 0.6% of the entire country’s gross domestic product.

The European Union delivers. That’s why you should vote in the European Parliament elections on 9 June. Go to together.eu to stay informed.