Sectors

Five markets we know from both sides.

HealthHow the same money could deliver more and better care.Where demand outgrows supply, and how a provider stands out.EducationHow the system could reach every child and teach each one better.Where families look for more, and how a private school or faculty earns its premium.ICT & digital infrastructureHow support could follow skills and adoption at home, not headcount.Where the market moves from hours to solutions, and which firms are worth backing.Manufacturing & exportersHow support could help domestic firms grow, not only bring new plants.Where domestic manufacturers can sell more, and what it takes to get there.Agri-foodHow farm support could raise what a hectare earns.Where land earns most, and who can capture the value.All sectorsOverview

Topics

Five questions that cut across every market.

SMEs & entrepreneurshipHow support could reach the small and mid-sized firms able to grow.Where domestic know-how sits, and which firms are worth backing.Competitiveness & investmentHow support could raise productivity, not only jobs.Where firms have underinvested, and what it takes to catch up.Public financeHow each dinar could be tied to a purpose, and pay to the value of work.Where the state will spend, and how to compete for it.Green & digital transitionHow carbon revenue and support could help firms measure and cut, not only pay.Where clean power and carbon data open a market, and who can serve it.Skills & labour marketsHow adults in work and out of it could keep learning what the economy needs.Where to find the people a plan needs, and how to train and keep them.All topicsOverview

Services

Economic analysis for governments, donors and international organisations: we diagnose sectors and public spending, design and cost programmes, and evaluate what they changed.Economic analysis for companies and investors: we size markets and plan entry, find and assess firms to buy, and model what a business is worth.

Sector & value-chain diagnosticsWhere a sector creates value, who leads it, and what holds it back.Public expenditure & functional reviewsWhere public money goes, what it achieves, and how the same budget could do more.Policy & programme designWhom a programme should reach, with what instrument, and how it will be judged.Cost-benefit & fiscal impactWhat a policy or project will cost, year by year, and what it returns.EvaluationWhat a programme changed, for whom, and what would have happened anyway.Market entry studiesHow large the market is, who buys, who competes and what it takes to win.Policy, regulatory & public-demand riskHow incentives, licences, rules and public spending move a business case.Market-entry programmesFrom a study to an operation on the ground: set-up, people, partners and first customers.Business plansA plan a board can approve and a lender or investor can fund.Target search & screeningWhich firms exist, who owns them, and which deserve a closer look.Due diligenceWhat a target’s business, clients and earnings really are, before the price is set.Financial models & valuationWhat a business or an investment is worth, and how it pays back under different scenarios.Surveys & primary dataThe evidence that does not exist yet, collected so that it can be trusted.Custom analytical & performance toolsModels, dashboards and indices, used every time a decision comes back.All servicesOverview

Service · For companies and investors · What to buy

Due diligence

What a target’s business, clients and earnings really are, before the price is set.

Context

What it answers

Before a price is agreed, a buyer needs to know whether the business is what the seller presents: whether its market and position are as described, whether its clients and contracts will stay, and how much of its profit will repeat.

  • Are the market and the target’s position in it what the seller presents?
  • How concentrated and durable are its clients and contracts?
  • How much of the reported profit will repeat, and what does the business need in working capital and investment?

Evidence

How we work

Commercial due diligence tests the market, the competitors and the target’s position against independent evidence, including the filed accounts of its competitors and, where the process allows, interviews with clients and partners. Financial due diligence rebuilds the target’s accounts over as many years as are available, reconciles management figures with the books, analyses revenue by client and type of work, and bridges reported profit to recurring profit, with working capital, net debt and one-off items. Red flags are listed with their effect on value and the questions for the seller. Legal and tax due diligence is the work of lawyers and tax advisers; we coordinate with them and bring their findings into the case.

Commercial due diligence · financial due diligence · quality of earnings · client concentration · working capital and net debt · red flags

Direction

What you get

A due diligence report with the findings, red flags and questions for the seller, a bridge to recurring profit, and the inputs for the valuation and the terms of the deal.

What the tool looks like

Diligence

Revenue by client

How much rests on the largest

For investors · Due diligence

Illustration with invented figures.

Examples of our work

For investorsProspective buyer2026

Due diligence of a software company in Serbia: business model, clients and quality of earnings

Ten years of statutory accounts, the company’s own management model reconciled with the books, revenue by client and type of work, and a bridge from reported to recurring profit, ending in a valuation range against regional deal multiples and a price split between a fixed and a deferred part.

For investorsStrategic investor2025–26

Investment cases for acquisition targets in private healthcare

Integrated models rebuild a target’s audited accounts into service lines, volumes, prices and staff. They value it on discounted cash flows checked against regional deal multiples, and test each improvement or add-on as its own business case under three scenarios.

All work
Talk to Nemanja Šormaz

The other side

Market entry, business plans, due diligence and valuation for companies and investors.Diagnostics, programme design, cost-benefit analysis and evaluation for institutions.

Read this as an investorRead this as an institution
Next serviceFinancial models & valuation

Contact

Tell us the decision in front of you, and when you need it.

nemanja@econominess.rs

Company profile, PDF · Belgrade, Serbia