Analysing barriers to entrepreneurship development in Bosnia and Herzegovina

Analysing barriers to entrepreneurship development in Bosnia and Herzegovina

October 13, 2021

Results of report "Analysing barriers to entrepreneurship development in Bosnia and Herzegovina" show that, in order to remove the identified barriers, there is a strong need to facilitate easier procedures for establishing legal entities, reduce red tape at all stages of business, change tax regulations, increase awareness in all aspects of business, boost financial support, especially for new companies, and introduce specific educational programmes for the development of entrepreneurial skills. It should, however, be stressed that changes in these areas are possible only through adaptation of legislation, which is the biggest challenge in creating an improved business environment.

Although the identified barriers of this project covered a relatively limited sample of respondents, it should be stressed that these are identical to previous research done not only in Bosnia and Herzegovina, but across the region and the European Union. Therefore, the listed barriers and developed recommendations can be deemed a befitting and purposeful incentive for the development of entrepreneurship in BiH.