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 institutions and donors · Evaluate

Evaluation

What a programme changed, for whom, and what would have happened anyway.

Context

What it answers

Donors and ministries are asked what their programmes achieved, and most monitoring can say only what was delivered: grants paid, people trained, equipment installed. An evaluation asks whether anything changed for the firms or people reached, whether it lasted, and whether it would have happened anyway.

  • Did the programme change what it set out to change, and for whom?
  • Which parts worked, which did not, and why?
  • What should the next phase keep, change or drop?

Evidence

How we work

Each evaluation starts from the programme’s theory of change and a short set of evaluation questions, across relevance, coherence, effectiveness, efficiency, impact and sustainability as the OECD DAC criteria define them, agreed in an inception report with a matrix that links every question to its evidence. Its design fits the programme and the evidence available: a baseline before support begins, yearly rounds that follow the same firms or people, comparison with those the programme did not reach, drawn from company registers where possible, and a closing evaluation that traces what changed and why. What firms report is checked against their filed accounts, each supported tool or measure is checked for whether it is still in use, and interviews with owners, staff and partners explain the numbers. Results are read against prices, markets and shocks, and where the evidence cannot yet attribute an effect, the report says so. Results are broken down by who was reached, including women-led firms and less developed regions, where the data allow, and personal and firm data are reported anonymously.

Baseline, mid-term, final and ex-post evaluations · process evaluations · longitudinal panels · comparison groups · outcome harvesting · usage audits of supported tools · satisfaction and perception surveys

Direction

What you get

Baseline, annual, mid-term and final reports; profiles and case studies of the firms or people reached; a monitoring framework and indicators the programme can keep using; and recommendations tied to the evidence, presented to the team and the donor, with a session that turns the findings into a management response.

What the tool looks like

Panel

Firms in the panel, tool by tool

Which supported tools are still in use

For institutions · Evaluation

Illustration with invented figures.

Examples of our work

For institutionsSME Hub, Swiss development cooperation2025–26Lead consultant

Multi-year evaluation of a supplier development programme

A panel of manufacturing firms is visited on site every year, with owners and the heads of finance, production, sales and people, while the filed accounts of every firm in the programme are tracked alongside. Each co-financed tool is scored for whether it is still in use, and results are read against prices, local wages and sector employment.

For institutionsUNDP2019

Internal audit in local governments: how it is seen and used

Interviews and a survey in fourteen local governments on how internal audit is understood and used by managers, with recommendations for strengthening it.

All work

Earlier experience

Before Econominess, Nemanja Šormaz did work of this kind in the roles below.

2014–2022Project coordinator, project manager and team leader

Private-sector competitiveness programmes

A diagnostic of Serbia’s competitiveness by firm size, industry and region, built on the accounts of some 68,000 firms, trade in about 800 products and a survey of more than a thousand companies; then baselines of two private-sector programmes, and yearly assessments of a five-year value-chain programme that compared supported firms with firms it did not reach and checked what firms reported against their filed accounts.

2022–2025Project manager and co-author

SME Compass: research and monitoring for a five-year SME programme

A baseline survey of close to 900 small and mid-sized firms in two sectors, a sector analysis, yearly assessments against the sector as a whole, and an index of SME competitiveness built on an annual survey and company accounts.

2017–2024Supervising director; project manager

Work-based learning

Two rounds of an employer survey on dual vocational education, with host firms, in-company instructors and the former students they hired, and later a dialogue with leading exporting SMEs whose proposals included support for dual education, tracked each year against government action.

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 serviceSurveys & primary data

Contact

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

nemanja@econominess.rs

Company profile, PDF · Belgrade, Serbia