Development Agency of the Republic of Srpska (loc.- Razvojna agencija Republike Srpske - RARS) was established in accordance with the Law on Promotion of small and medium enterprises in September 2004 as a legal entity and a non-profit organization.
The Agency is authorised to provide professional services of support for the establishment, management and development of small and medium-sized enterprises. It also offers professional services in order to encourage investments in SMEs, support the establishment of entrepreneurial infrastructure, innovator activity, creation of new products and introducing new technologies.
It is prescribed by the Law that the Agency provides support for the improvement of employment, vocational training, retraining and upgrading of workers, participation in trade fairs at home and abroad, establishing cooperation between SMEs and the consultant network, and it also maintains a register of consultants for the needs of SMEs.
The Agency manages and maintains Entrepreneurial Portal of the Republic of Srpska, provides support to women, youth and rural entrepreneurship and other forms of social entrepreneurship, promotes entrepreneurship and enhances cooperation between authorities of the local self-government and the local, i.e. inter-municipal, agencies for SME development. RARS is authorized to conduct researches and collect data, provide analysis and reports on the situation in the field of SMEs, participate in drafting of Strategy and other development documents, as well as prepare and implement projects to achieve the objectives and introduction of measures from the Strategy. The Agency is also in charge of cooperation with international institutions and participation in the development and implementation of international and national SMEs support projects.
Mission and vision
RARS supports establishment, growth and development of small and medium-sized enterprises in cooperation with relevant institutions in order to increase their market competitiveness through provision of professional and technical aid and development of entrepreneurial infrastructure and their access to knowledge and financial resources.
The Republic of Srpska with a lot of small and medium-sized enterprises and strong entrepreneurship, enlarged number of the employed in this sector and increased participation of SME and entrepreneurship in gross domestic product.