Startups are a new model of doing business in Albania that is becoming more and more popular. Generally speaking there’s not much information about them, or even cultural background related to it. What is special about start-ups is that they are not simply about starting a new business, but first of all are about innovation and creative thinking. Until two or three years ago, “start-up” was a new term and concept in Albania. Today startups are growing in number and work in an environment that is growing more supportive to them. Capital Tirana is the main ‘incubator’ for this new model of doing business with startups operating mainly in the field of ICT, services and entertainment.

The government has taken a number of steps to support the sustainable development of MSMEs with the aim to transform the country’s economy from one depending in most part of it by remittances into a competitive one. Besides legislative incentives to stimulate growth, the government is implementing a financing scheme for startups that during 2015-2016 mounted up to LEK 14,000,000. On behalf of the Federal Ministry for Economic Cooperation and Development, the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH in cooperation with the Albanian Ministry of Economic Development, Tourism, Trade and Entrepreneurship (MEDTTE) and other institutions, namely the Albanian Investment Development Agency (AIDA) is supporting innovation and entrepreneurship development of Micro, Small and Medium Enterprises (MSMEs).

Having a good business idea is not enough. There are a number of factors to consider and certainly a number of challenges to cope with. Financial management is just an example. Besides initiative and know-how, this is one of the biggest challenges startups face, especially when the first money come in and expenditures come with it.

In the framework of the project “Increasing the competitiveness of MSMEs by promoting innovation and entrepreneurship (ProSME)” GIZ is cooperating with Deloitte Albania to help startups with financial consultancy sot that they can manage income and expenditures cautiously and safely. In the context of the ProSME project Deloitte delivers pro bono consulting in the areas of tax, legal and financial advice.

“We are aware of the multiple challenges that new businesses in Albania face. And we are very happy to collaborate with GIZ, to support best business ideas and give businesses the opportunity to grow. It is crucial that the best ideas have the initial know how and we are willing to share our expertise and experience for these ideas to prosper. In a larger perspective in helping small businesses grow and prosper we help to support economic development in general” Mr. Maksim Caslli, Country Leader of Deloitte, Albania and Kosovo.