Enterprise Lithuania - Business Promoting Agency

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Enterprise Lithuania is a non-profit agency established by the Ministry of Economy of the Republic of Lithuania to support and promote business development in the country.
What are the main aims and objectives?

The main aims and objectives of Enterprise Lithuania are to promote entrepreneurship, support the development of small and medium-sized enterprises (SMEs), and encourage the export of Lithuanian products and services. As a non-profit agency under the Ministry of Economy and Innovation, it strives to foster the growth of competitive businesses in Lithuania by offering quality training, consultancy, market analysis, and business partner search services. Additionally, it seeks to create measurable added value for businesses, enhance innovation and efficiency as a government agency, and reduce reliance on public funding.

How does the program work?

The organization consists of several departments, including the Export Department, Small and Medium-Sized Business Department, and the Point of Single Contact for Services and Products. These departments work in tandem to provide a comprehensive range of services to Lithuanian businesses. Enterprise Lithuania offers quality training, consultancy, and market analysis to help establish and grow competitive businesses in the country. It also facilitates export activities by providing business-partner search services and fostering cooperation with international networks.

One of Enterprise Lithuania's significant initiatives is the coordination of the Startup Lithuania community, which serves as a one-stop shop for startups in the country. This platform provides resources, networking opportunities, and support for emerging businesses. Additionally, the agency organizes trade missions to promote Lithuanian businesses internationally, helping them expand their reach and explore new markets.

To further support businesses, Enterprise Lithuania maintains the Lithuanian Exporters Database, a free online platform designed for companies seeking reliable business partners in Lithuania. This resource helps connect Lithuanian businesses with potential collaborators and customers both domestically and internationally.

Enterprise Lithuania was responsible for executing the Entrepreneurship Action Plan 2014-2020. “Second chance” activities are included in the Entrepreneurship Action Plan 2014-2020. They include: awareness-raising, mentoring, training and giving “second chance” entrepreneurs access to business networks. Measures aimed at improving the public image of honestly failed entrepreneurs are also in place.

What is the overall cost?

There is no information currently available about the running costs of Enterprise Lithuania.

How was it implemented?

Enterprise Lithuania was created in November 2009 as a successor to the former Lithuanian Development Agency. The establishment of this non-profit organization was part of a broader effort by the Lithuanian government, specifically the Ministry of Economy, to enhance the country's economic development and support the growth of small and medium-sized enterprises (SMEs). The agency was designed to address the need for a structured approach to promote entrepreneurship, facilitate exports, and provide comprehensive support services to businesses operating in Lithuania.

Accompanying policy changes: Since the beginning of 2015, the courts appoint the bankruptcy administrators in bankruptcy proceedings using a computer program. The purpose of these changes is to ensure a transparent process of appointment of bankruptcy administrators and shorten bankruptcy proceedings. The bankruptcy regulation on the sale of assets by public auction in bankruptcy proceedings was modified. The amended regulation came into force in September 2015. It allows the sale of assets by electronic auctions, to make the bankruptcy procedure faster and more transparent.

What impact has been measured?

There is currently no information available on the impact of Enterprise Lithuania

What lessons can be learned?

Comprehensive Support Ecosystem

Enterprise Lithuania demonstrates the value of creating a holistic support system for businesses. This includes:

  • Providing training, consultancy, and market analysis to help establish and grow competitive businesses
  • Facilitating exports through business-partner search services and international networking
  • Coordinating initiatives like the Startup Lithuania community to nurture early-stage companies
  • Maintaining resources like the Lithuanian Exporters Database to connect businesses

Focus on Digital Platforms

The organization has leveraged online platforms effectively:

  • Launching a unified country of origin brand "Co-created in Lithuania" to promote exports
  • Developing an online platform for social enterprises to provide training, resources, and networking

Targeted Support for Key Sectors

Enterprise Lithuania has identified and supported strategic sectors:

  • Focusing on high value-added industries like biotechnology, lasers, and ICT
  • Promoting social entrepreneurship to address societal challenges

Emphasis on International Expansion

The agency prioritizes helping Lithuanian businesses expand globally:

  • Organizing trade missions and facilitating participation in international exhibitions
  • Providing support for accessing new export markets and client bases

CURATED BY

Siddharth Bannerjee

Researcher, Digital Startups
Nesta
United Kingdom