Project partners(PPs) have achieved an enormous progress in developing the field of second-chance entrepreneurship all project countries.

The educational modules delivered by PPs were very well received by the entrepreneurs in all respective countries.

National and regional stakeholders showed interest in cooperating with DC2.0 PPs and contribute to the development of support instruments for re-starting entrepreneurs and entrepreneurs in crisis.

The progress achieved so far in the Danube region countries is also embraced on the European level. We were able to become visible both to European Commission and Executive Agency for Small and Medium-sized Enterprises (EASME), managed to integrate into the Europe-wide Early Warning Network.

At the same time, COVID-19 pandemic has put the whole world to a great test and has shaken the seemingly solid foundations of our society and economy. Therefore, the second chance for honest once-failed entrepreneurs is more important than ever before. The timing for testing and implementation of such a business acceleration model could not be more appropriate and reasonable.

There are very few, if any, similar supporting programs or initiatives in the Danube region and beyond, which address specifically entrepreneurs in crisis or after the bankruptcy.

A number of additional support instruments for micro and small entrepreneurs, who were influenced by the current economic crisis will be implemented based on the achieved results of DanubeChance2.0 activities:

1) Incubation program for assisting micro and small entrepreneurs, who appeared to be in crisis or drifting towards bankruptcy because of COVID restrictions by implementing business incubation and mentoring entrepreneurs on changing their business model, building new sales channels, cutting the fixed costs, introducing new products / services. In the case that entrepreneur is not capable to modify the business model, experts on bankruptcy will advise him/her on how to close down the business and make a smooth transition to employment.

2) Algorithm for analyzing financial indicators of the SMEs, which can show „red flags“and predict expected financial situation of the SME in 3 to 24 month from the current period. This kind of analytical data could be extremely important in the time of crisis, when sales are dropping, and entrepreneurs lose control over their spending and earning. We have noticed that big data existing in the disposal of Tax Authorities, Statistical Offices, invoicing systems, accounting systems is not used for predicting the crisis or possible bankruptcy of SME. This kind of analytical information is especially important for micro and small businesses, who cannot afford to have a financial manager, or external consultant helping them understand their finance and plan their cash flow.

3) Support of the project partners, who started to build a systematic approach on the national and regional level to address entrepreneurs in crisis, including Moldova, Bosnia and Hercegovina, Slovakia and Romania. Among current project partners Hungary and Slovenia national authorities have started to implement the Early Warning Mechanism according to Directive (EU) 2019/1023 „on insolvency procedures“. IFKA and PTP will be sharing experience of their national Early Warning Programmes and securing communication of the relevant stakeholders with DC2.0 PPs. IFKA as a direct implementing body will be providing consultation and guidance to Moldova and Bosnia and Hercegovina on the implementation of Early Warning and will support these 2 PPs to be accepted to the Europe-wide network on Early Warning implementing organizations.