This program, run by the Macedonia Competitiveness Project, pairs Macedonian advisors with businesses seeking improvements, who then pay on a success-fee basis. Launched in mid-2009, the Financial Platform continues to give firms the help they need to access finance, improve management practices and invest in improved technologies. In the case of Sideros, a stove manufacturer in Macedonia's capital, the assistance has allowed them to tap the emerging green market with low-emission pellet stoves fueled with wood byproducts.

Sideros previously only constructed rough metal stove housings, shipping them to Italy for assembly. Demand was rising for a locally made final product, but the company needed financing for new machines and raw materials. The Financial Platform paired them with Point Pro Consulting, whose advisors helped them develop a sound investment strategy and calculate return on investment. Armed with the information, Sideros got working capital from one of Macedonia's leading banks and leased new equipment.

The company has added 29 employees and increased exports by $500,000, and its pellet stoves are giving Macedonians an energy-efficient heating alternative. To date, 64 companies have used the Financial Platform, helping them gain a total $8.6 million in financing, which has yielded over $14 million in new investment, 464 jobs and $7.5 million in exports.Learn more about the Financial Platform.

Published January 2010