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

Target search & screening

Which firms exist, who owns them, and which deserve a closer look.

Context

What it answers

An acquirer or an investor entering the region needs a map of the firms worth approaching, often in niches that official statistics do not separate and where the best firms are private and little known.

  • Which firms do what we need, and how large and healthy are they?
  • Who really owns them, and are they likely to sell?
  • Which deserve a closer look, and what should be checked first?

Evidence

How we work

We agree the criteria first, then build the long list from business registers, regulators’ data, procurement records and trade data rather than from directories. Ownership is traced through court and business registers to the ultimate owners, several years of statutory accounts are set on one definition of profit, and each firm is scored on the agreed criteria. Every fact is logged with its source, and every open fact is listed with the check that would settle it. Across borders, the same method is applied country by country.

Screening criteria · long and short lists · ultimate ownership · financial profiles · scoring · approach notes

Direction

What you get

A long list and a short list, with profiles of ownership, performance, service model and clients; a scoring table the client can re-weight; and approach notes for the firms selected.

What the tool looks like

Screen

A long list, scored

Six criteria, weights the client can change

For investors · Target search & screening
Map

Firms across the region

Size by revenue, colour by role, faded where estimated

For investors · Target search & screening

Illustration with invented figures.

Examples of our work

For investorsEuropean investor2026

Acquisition search in digital infrastructure

A desk screen of firms in Serbia, Bosnia and Herzegovina and North Macedonia, drawn from business registers, regulators’ market data, routing registries and procurement records. Each firm is scored on six criteria, a top score requires a register or regulator source, and every open fact is listed with the check that would settle it.

For investorsConfidential client2026

IT services firms in Croatia and Slovenia: ownership, performance and service model

Ownership is traced through court and business registers to the ultimate owners, three years of statutory accounts are set on one definition of profit, and every entry is logged with its source.

For investorsInvestor2025

Private higher education in Serbia: the market and the options to acquire

Built from the filed accounts of every private institution, official enrolment by field and source of financing, listed tuition by programme and data on graduate outcomes.

All work

Earlier experience

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

2020–2025Co-organiser and co-author

SME100: leading domestic exporters and their agenda

Leading domestic exporters selected on set criteria from the accounts of some 17,700 firms, a dialogue with them that produced policy initiatives tracked year by year, from the investment tax credit to advance payment of support, and yearly exhibitions in regional technology parks with a barometer of the SME sector.

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 serviceDue diligence

Contact

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

nemanja@econominess.rs

Company profile, PDF · Belgrade, Serbia