"Second-chance business re-structuring initiative" is the pilot action of DanubeChance 2.0 project, which had been launched in autumn 2020 in Slovenia, Croatia, Germany, Romania, Moldova, Serbia, Bosnia and Herzegovina, and Hungary.
It will deliver a practical second-chance acceleration and business plan re-make program for re-starters and entrepreneurs in distress.
Our goal is to support at least 3-5 entrepreneurs per pilot country. The 3-6 month business acceleration and re-structuring services focus on business diagnostics, market re-entry of honest failed entrepreneurs, and building confidence in second-chance entrepreneurs.
Public invitations for the candidates of the pilot actions were already published in pilot countries. Currently, meetings and business diagnostics with potential participants are carried out. Participants with the highest second-chance potential will be selected during the selection procedure upon 6 carefully defined selection criteria. The tailor-made program for honest failed entrepreneurs started in November 2020 and will last until April 2021. All activities and tasks for the entrepreneurs will be defined and followed in the individual Action plans, which will be developed together with 2nd-chance entrepreneurs at the beginning of the support program.
Local feasibility studies for participating countries will be also developed to better understand the markets 2nd-entrepreneurs will re-entry. The Hands-on experience gained during the close collaboration with second-chance entrepreneurs and viable business revitalization practices and methods will be included in the Second-Chance Entrepreneurship Community Strategy for the Danube region. Last but not least, results will be channeled back into the roadmap on second-chance opportunities to create a long-term vision for our policymakers.