Most Common General Questions

The Slovenian Enterprise Fund (SPS) is a specialized development-financial institution aimed at promoting the growth and development of entrepreneurship in Slovenia, modelled after the best global practices. The primary mission of SPS is to provide favourable financial resources for start-ups, rapidly growing, innovative, and other micro, small, and medium-sized enterprises in Slovenia, enabling them to achieve their planned growth and penetrate increasingly demanding and specialized markets. In addition to financial incentives, SPS also co-creates the Slovenian start-up ecosystem, connects various entrepreneurial networks and advisory institutions, and enhances financial assistance with substantive support such as professional services, information, training, and networking opportunities for businesses. This aligns with the European Commission’s goals of supporting entrepreneurship, growth, research, development, and employment. In 2019, SPS introduced a new program for Small Value Grants for micro, small, and medium-sized enterprises—known as vouchers. This program significantly simplifies access for SMEs to co-financing of individual services, helping them strengthen their competitiveness and competencies.

SPS finances micro, small, and medium-sized enterprises established in the Republic of Slovenia. It operates six main financial lines through which it provides various favourable financial incentives to companies at all stages of their development. You can view all financial lines here.

All forms of financial benefits provided by SPS (such as guarantees, lower credit approval costs, interest rate subsidies, direct subsidies for investment expenses, etc.) are considered state aid and must be following the common European rules on state aid. The primary regulation governing this is Council Regulation (EC) No. 1083/2006 of July 11, 2006, on general provisions of the European Regional Development Fund, the European Social Fund, and the Cohesion Fund, and repealing Regulation (EC) No. 1260/1999 (hereinafter: Regulation No. 1083/2006), as well as other relevant European legislation. Regulation No. 1083/2006 outlines the objectives and general rules regarding aid in its entirety.

SPS’s state aid in the form of non-repayable grants, favourable credit interest rates, and credit guarantees for various development projects is aimed at supporting projects that ensure company growth, create higher added value per employee, or replace low-value-added jobs with high-value-added ones. Consequently, the primary target group includes companies with significant market potential, which they develop through innovations and technological advancements. This also includes new innovative companies in Slovenia that facilitate the successful transfer of developmental ideas from entrepreneurial individuals into market-successful businesses.

Companies are often unaware that state aid is subject to common European rules for awarding such aid. One of these rules is that state aid must be necessary at the time of granting and cannot be applied retroactively.

An investment that is already underway and has been initiated cannot be supported and co-financed by SPS.

State aid that can be granted by SPS is intended for micro, small, and medium-sized enterprises (which are organized as business companies or sole proprietorships), unless otherwise specified in the text of a particular public call for proposals.

The criteria for defining micro, small, and medium-sized enterprises are in accordance with the definition provided in Annex I of Commission Regulation (EC) No. 800/2008 of August 6, 2008. The European definition of small and medium-sized enterprises also considers ownership structures. This area is often misunderstood by companies. Additionally, companies sometimes fail to strictly adhere to eligible costs.

With state aid, the investment must also produce observable effects in the environment. This means that the investment should result in increased added value per employee, expansion of market share, and the creation of new jobs.

The effects are monitored based on the intended use of loans and specific incentives for projects that are just beginning. Project control is conducted on-site during the acquisition of technical equipment, which means that the actual state of the investment and the intended use of funds are verified. After the investment is completed and the funds are disbursed, the obligations of the entrepreneur do not end. Recipients of state aid from SPS are required, in accordance with the contract for the awarded state aid, to report to SPS on the achievement of the objectives set in the contract.

Reporting, which takes place annually (no later than April 30 of the current year), for the investment year and for 3 years after receiving the decision on state aid, includes data on:

• Sales revenue
• Profit
• Creation of new jobs
• Number of employees
• Added value per employee
• Other contractually specified categories

SPS, through established direct connections with public databases such as AJPES – Agency of the Republic of Slovenia for Public Legal Records and Services, IPRS – Business Register of Slovenia for sole proprietors, ZZZS – Health Insurance Institute of Slovenia, InfoBON database, and others, accesses or ensures necessary monitoring of the mentioned financial data on business operations and the number of employees within each state aid recipient.

You can obtain information:

• From bank advisors for business loans at banks that cooperate with SPS
• From local chambers of commerce and industry
• From local and regional business centres
• From technology parks
• From university or business incubators

• State aid is allocated through public calls for proposals.
• Public calls are published in the Official Gazette of the Republic of Slovenia, in public notices, and on the SPS website: podjetniskisklad.si.

When dealing with public calls for proposals, you should check the following conditions:

• What constitutes state aid? (e.g., guarantee for securing a bank loan, interest rate subsidy, subsidy for eligible costs, etc.)
• Which companies are eligible to apply? (eligible applicants)
• Which investments are eligible for state aid? (eligible costs)
• Which companies are excluded from applying due to state aid rules?
• When can eligible costs be incurred? (eligibility period of the investment)

For public calls related to granting guarantees for securing bank investment loans with simultaneous interest rate subsidies, banks that sign annual cooperation agreements with SPS also participate.

Therefore, interested companies must also find a participating bank for these calls and apply for an investment loan through that bank.

The application documentation for SPS public calls is available on the website www.podjetniskisklad.si.

Companies can apply for a specific SPS product by applying to the published public call for that particular product.

A company interested in applying, which meets the conditions of the specific call, should submit its application via the official electronic submission portal (ePortal). The application must be prepared in accordance with the conditions specified in the published public call, thereby making the company the applicant.

The applicant is responsible for preparing and submitting the application, meaning the company itself.

Each call specifies the content required for the application. The basic components typically include:

• The application form (available for each call-in electronic format via ePortal)
• A business plan

Additional official documents may need to be provided, but companies generally do not face significant bureaucratic challenges in preparing the application. SPS requires only the essential documents related to the proper use of national and European funds for the entrepreneurial sector.

If a company meets the conditions specified in the public call for the particular product, it should apply by officially submitting its application electronically via ePortal.

The application must minimally include:

• The application form (ePortal)
• All other required documents prepared/acquired and uploaded to ePortal (if requested by the specific call), such as:
  • Business plan with balance sheet and income statement
  • Positive bank decision
  • Creditworthiness evidence
  • Statement on the number of employees

A complete list of required documents for a complete application is detailed in each specific call.

To simplify and clarify the application process for public calls, SPS has developed several tools that are available on the website www.podjetniskisklad.si under the section for application preparation tools:

1. ePortal – Allows for quick, easy, and electronic submission of the entire application to SPS.
2. Business Plan Preparation Tool – Provides guidance specifically for business companies and for sole proprietors.
3. Depreciation Plan Preparation Tool – Offers an informative display for the repayment of investment loans.

You can find the tools for preparing the application here.

All useful information that entrepreneurs need to know can be found here.

Applicants decide on their own whether to prepare the application themselves or to use external assistance.

If choosing to use external help, applicants voluntarily and based on market conditions select a consulting firm or business advisor and enter a business relationship with them. SPS does not participate in this relationship.

Important Note – There are no consulting firms or business advisors authorized specifically for preparing applications for SPS public calls.

Companies should not be misled by any claims or explanations suggesting that only applications prepared by certain consulting firms or advisors with special authorizations will be supported. It is essential to emphasize that while some consulting firms or advisors may be more skilled in preparing applications than others, this will be something entrepreneurs can evaluate and verify themselves in the market when deciding on external assistance.

When preparing a business plan for an investment, use the Business Plan software tool available on the website www.podjetniskisklad.si.

Under the “Application Preparation Tools” section, follow the business plan template, which is differentiated for sole proprietors and business companies.

For both types, follow these steps:

1. General Instructions for Uploading and Using the Tool
2. Preparation of the Business Plan (Textual Part)
3. Preparation of the Business Plan (Financial Part)

For the textual part of the business plan, practical writing instructions are provided as notes for each section. In the financial appendix of the business plan, the first worksheet includes detailed instructions on how to fill out and simplify the financial section. For any additional questions related to filling out the business plan, SPS has experts available to assist with professional advice.

Before using the tool for the first time, carefully read the instructions in detail. Based on long-term experience with the tool, especially with the Business Plan (financial part), we have found that most issues arise from a superficial understanding of the instructions rather than from errors in the software, which is typically the initial assumption of most users.

If you still encounter difficulties while preparing the business plan, you can get additional information by calling (02) 234 12 53 – Darinka Meško.