Capital market for small and medium-sized companies in Croatia
Progress is a new trading platform organized by the Zagreb Stock Exchange.
Its goal is to facilitate small and medium-sized enterprises („SME“) to raise new capital for business growth and new investment financing. SME companies are currently only funded by banks and are often facing financing terms that are less favourable when compared to large companies, such as higher interest rates, shorter repayment periods, larger collateral requirements.
Furthermore, with the acquisition of new capital, it is also possible to enter into technical trading in order to facilitate a simpler transfer of ownership.
The role of the Zagreb Stock Exchange, inter alia, include:
- education and assistance in choosing advisors on the transaction,
- ensuring fair transaction costs,
- advice during the financing process,
- assistance in access to additional funds with development banks, agencies and state institutions.
The launch of the trade platform Progress is expected in the first quarter of 2018.
According to the first announcements, several SME entrepreneurs are expected to be listed annually on the Progress platform - roughly between 3 and 10 entrepreneurs.